MedX Raises $2.7 Million in Initial Closing of Convertible Note Financing

MedX Health ( (TSE:MDX) ) has shared an update.

MedX Health Corp. has completed an initial closing of $2.7 million in a non-brokered private placement of Series IV convertible loan notes, part of a larger offering of up to $5 million maturing in 2028 and convertible into equity units with accompanying share purchase warrants. The company plans to use the proceeds to redeem remaining Series I notes, further develop its SIAscopy on DermSecure telemedicine platform, and fund the rollout of its technology into the occupational health market, potentially strengthening its balance sheet and expanding its commercial footprint in digital dermatology.

Existing Series I noteholders are being given the option to exchange into the new Series IV notes, while qualified agents will receive cash commissions and equity-linked compensation tied to subscriptions they introduce. The financing, which may include participation from insiders subject to regulatory exemptions, is expected to support MedX’s growth initiatives and enhance adoption of its cleared teledermatology solutions among healthcare and occupational health providers.

More about MedX Health

MedX Health Corp. is a Canadian data-enabled medical-technology company specializing in non-invasive skin screening and teledermatology through its proprietary SIAscopy imaging technology and DermSecure platform. It targets early detection of skin cancer and digital dermatology services for clinical, investigational, and beauty and aesthetics markets across multiple regulated jurisdictions, including Canada, the U.S., Europe, Australia, New Zealand, the U.K. and Turkey.

Average Trading Volume: 89,105

Technical Sentiment Signal: Sell

Current Market Cap: C$19.68M

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