MedX Health Corp. Seeks Extension for $300,000 Loan Notes
MedX Health Corp. Applies for Loan Notes Extension
In a significant move, MedX Health Corp. (TSX-V: MDX) has announced its application for a further extension regarding $300,000 of its Series I Loan Notes. This follows the company’s previous communication regarding the extension of the maturity date for a portion of its Convertible Loan Notes.
Details of the Series I Loan Notes Extension
The company had previously secured TSXV Acceptance for an extension of the maturity date for $2,650,000 out of $3,700,000 of outstanding Series I Notes from December 31, 2023, to December 31, 2025. With additional holders agreeing to this extension, MedX is now pleased to apply for further acceptance for an additional $300,000 of Series I Notes. The issuance is subject to compliance with TSXV policies.
Understanding the Loan Notes Structure
The Series I Loan Notes, initially issued in early 2021, feature an interest rate that pays 6% annually, which is disbursed quarterly. Initially set to mature in December 2023, the maturity date has now been extended to 2025 for those holders who have accepted this change. Additionally, these notes offer a conversion option into units priced at $0.14 per Unit, each consisting of one fully paid common share and half of a warrant. The warrants can be exercised before the new maturity date at $0.20 for another common share, thereby adding value for the investors.
About MedX Health Corp.
Headquartered in Ontario, Canada, MedX Health Corp. is at the forefront of innovation in medical devices and software aimed at enhancing skin health. The company is renowned for its cutting-edge technology, particularly the SIAscopy® on DermSecure® telemedicine platform. This platform incorporates patented technology that allows healthcare professionals to examine moles and skin lesions through non-invasive methods, offering critical insights into potential skin issues.
Innovative Technologies
MedX's suite of products includes SIAMETRICS®, SIMSYS®, and MoleMate®, which utilize advanced light technology to visualize tissue beneath the skin's surface painlessly. This innovation not only facilitates quick evaluations but also empowers doctors to make informed decisions regarding patient care within moments. The company’s products comply with various international health regulations, including approvals from Health Canada and the U.S. FDA, ensuring their reliability and safety.
Global Impact
The reach of MedX's technology extends beyond Canada, impacting patients and healthcare across multiple countries, including the U.S., Australia, New Zealand, the EU, Brazil, and Turkey. This broad acceptance underscores the trust placed in MedX’s solutions by both healthcare practitioners and regulatory bodies. By continuously expanding its product offerings and enhancing its technologies, MedX aims to impact the global medical landscape positively.
Frequently Asked Questions
What is the purpose of the recent application made by MedX Health Corp.?
MedX Health Corp. has applied for an extension regarding an additional $300,000 of its Series I Loan Notes, building on a previously granted extension for a larger sum.
How does the Series I Loan Notes extension benefit investors?
The extension provides investors with a longer timeframe to convert their notes into shares, enhancing their investment potential as the company continues to grow.
What technology does MedX Health specialize in?
MedX Health focuses on advanced medical devices and software aimed at skin health, featuring technologies like SIAscopy® for examining skin lesions.
Which regulatory approvals has MedX Health obtained for its products?
MedX’s products are cleared by Health Canada, the U.S. FDA, and the Therapeutic Goods Administration, ensuring their safety and efficacy across several markets.
How does MedX Health support healthcare professionals?
By providing technology that enables quick and accurate evaluations, MedX Health supports healthcare professionals in diagnosing and treating skin conditions effectively.
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