MEDX Health Corp.
TSX VENTURE : MDX

MEDX Health Corp.

January 22, 2014 10:18 ET

MedX Health Corp. Announces Brokered Private Placement

MISSISSAUGA, ONTARIO--(Marketwired - Jan. 22, 2014) - MedX Health Corp. ("MedX" or the "Company") (TSX VENTURE:MDX) announces the engagement of Trapeze Capital Corp., as lead agent (the "Agent"), to raise gross proceeds of up to $2.0 million, from accredited investors, on a reasonable efforts basis through a private placement of Units, with each Unit comprised of one Common Share and one Common Share Purchase Warrant ('Warrant") (the "Offering") at $0.10 per Unit. Each Warrant will entitle the holder to purchase one Common Share during the period ending two years from the date of issue, at an exercise price of $0.20.

Closing of the Offering will be subject to receipt of subscriptions and also a number of conditions, including the receipt of all relevant regulatory and other consents and approvals, including that of the TSX Venture Exchange, as well as the negotiation and execution of certain documentation, including an agency agreement between the Agent and MedX. Closing of the Offering is expected to take place in late February.

At closing, MedX will pay the Agent a cash commission equal to 8% of the aggregate proceeds of the Units sold, and will issue broker warrants to the Agent to acquire that number of common shares equal to 8% of the number of common shares that comprise the Units sold by the agent under the Offering. Each broker warrant will be exercisable at $0.20 per share for a period of two years after closing. As well, MedX will pay the Agent's reasonable expenses incurred in connection with the Offering.

The net proceeds from sale of the Units will be used for the expansion of marketing efforts of the Company's products, and for general working capital purposes. All securities issued in conjunction with the Offering will be subject to a four-month and one day hold period under applicable securities laws and the policies of the TSX Venture Exchange.

About MedX

MedX is headquartered in Mississauga, Ontario (Toronto), and is a global leader in the design, manufacturing and distribution of quality low level laser and light therapy technologies for use in numerous medical settings, including rehab/chiropractic, dental, wound care, and veterinary medicine, providing patients with drug free and non-invasive treatment of tissue damage and pain. MedX laser and light products are FDA approved, Health Canada cleared, and CE Mark approved for use in North America as well as the European Union. MedX's products include SIMSYS™ and MoleMate™, which are approved by Health Canada, and available to Canadian physicians and dermatologists, are FDA approved for use in the USA and are currently under review for CE approval for use in Europe, the UK, and Australia, as an optical biopsy that uses patented technology featuring a hand-held scanner device designed for clinical use that utilizes light to view beneath suspicious moles or lesions in a pain free, non-invasive manner, creating images in real-time for physicians and dermatologists to evaluate all types of moles or lesions within seconds. For more information log onto: www.simsys-molemate.com. For a complete profile of MedX and its products visit www.medxhealth.com.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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