MISSISSAUGA, Ontario--(BUSINESS WIRE)--MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) announces that further to its Press Release dated August 6, 2024, the TSXV issued a Final Acceptance Letter dated August 14, 2024, in respect of the Amendment to the remaining outstanding $3,700,000 of the Series I Loan Notes issued in 2021, by the Extension of the Maturity Date from December 31, 2023, to December 31, 2025, but has since withdrawn that Final Acceptance. The Company is now filing an application for a revised Final Acceptance of the Extension of the Maturity Date for the Series I Loan Notes, only in respect of $2,650,000 of Series I Loan Notes in respect of which Extension Agreements have been signed. In the event that any of the holders of Series I Loan Notes who have not yet signed Extension Agreements do decide to accept the Extension, then the Company may submit request(s) to the TSXV for Acceptance, issuance of which will be subject to applicable TSXV Policies.
Included among the holders of Series I Loan Notes who have agreed to the extension, and holding a total value of $150,000, are two related parties as such term is defined by Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). In connection with the extension of the Maturity Date on the Series I Loan Notes, the Company relies on exemptions from formal valuation and minority shareholder approval requirements set out in section 5.7(1)(a) of MI 61-101.
About MedX Health Corp.:
MedX, headquartered in Ontario, Canada, is a leading medical device and software company focused on skin health with its SIAscopy® on DermSecure® telemedicine platform, utilizing its SIAscopy® technology. SIAscopy® is also imbedded in its products SIAMETRICS®, SIMSYS®, and MoleMate®, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS®, SIMSYS®, and MoleMate® include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are cleared by Health Canada, the U.S. Food and Drug Administration, the Therapeutic Goods Administration and Conformité Européenne for use in Canada, the U.S., Australia, New Zealand, the European Union, Brazil and Turkey. Visit https://medxhealth.com.
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 release.
This Media Release may contain forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties.
