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Canada's MedX Health plans C$2M private placement

MedX Health Corp. is planning to raise up to C$2 million in a private placement of up to 16,666,667 units to investors.

The Canadian medical device and software company is selling the units at 12 cents each. Each unit includes 1 fully paid common share of the company and 1 two-year warrant to buy 1 common share.

The warrants are exercisable at 20 cents per share.

Closing of the placement will take place in tranches, subject to certain conditions.

Mississauga, Ontario-based MedX develops and markets skin-related screening tools, as well as phototherapy devices for pain relief and tissue repair.