MedX Announces Intention to Seek Acceptance for Amendment to Series I Convertible Loan Notes

MedX Health Corp. (“MedX” or the “Company”) (TSX-V: MDX) is pleased to announce that it is making an Application to the TSX-V for Acceptance of the proposed amendment to the terms of the currently outstanding Convertible Loan Notes (“Series I Notes”). Following the conversion of five Series I Loan Notes during 2021, there are currently 75 Series I Loan Notes outstanding, with a face value of $3,750,000. The Series I Loan Notes, originally issued in the First Quarter of 2021, pay Interest quarterly at 6% per year, mature on December 31, 2023 (“Original Maturity Date”) and are convertible, at the option of the holder, into units (“Unit(s)”) at $0.14 per Unit; each Unit comprises one fully paid common share and one-half of a share purchase warrant (“Warrant(s)”; each whole Warrant is exercisable up until the Original Maturity Date to acquire a further common share at $0.20. Subject to, and conditional on Acceptance by the TSX-V, the Company will amend the Original Maturity Date of the Series I Notes, and the corresponding expiration date of the underlying Warrants, to December 31, 2025. The Company has already canvassed the proposed amendment with the holders of many of the Series I Notes and received positive responses, and anticipates that the majority of the holders will agree to the proposed amendment; in the case of any holders who do not agree to the proposed amendment, arrangements will be made for discharge.

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.

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Bill Mitoulas, Investor Relations
MedX Health Corp.
[email protected]
+1-416-479-9547