On May 19, 2020 MedX Health Corp. ("MedX" or the "Company") (TSX-V: MDX) reported the closing on May 13, 2020 of the final tranche of a previously announced private placement. With this closing, MedX has raised gross proceeds totalling $3,112,753 since January 30, 2020 (Press release, MedX Health, MAY 19, 2020, View Source [SID1234558288]). "This marks the successful achievement, indeed over-achievement of the target, set in January 2020 to raise $3.0 million to finance the development and expansion of MedX’s complete end-to-end telehealth solution focused on Dermatology. The funding will allow MedX to hire key sales and operational personnel required to expand into new marketplaces, in particular in Latin America and the USA where the Company is anticipating rapid growth," stated Scott Spearn, CEO of MedX.

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MedX announced that further to the Conditional Approval from the TSX Venture Exchange for a non-brokered Private Placement to accredited investors of up to 25,000,000 units at $0.12 per unit ("Unit"), to raise up to $3,000,000 that was announced on March 6, 2020, the closing of a final tranche of that placement has taken place on May 13, 2020, for a total of 4,887,466 units, raising a total of $586,496. Each Unit is comprised of One (1) fully paid common share and One (1) Share Purchase Warrant, exercisable to purchase One (1) further Common Share at the price of $0.20, exercisable for a period of two years from the date of issue. The securities issued will be restricted from trading for four months from their respective dates of issue.

In connection with this non-brokered private placement, 324,000 agent’s warrants ("Agent’s Warrant(s)"), as described below, were also issued. Each Agent’s Warrant, which is non-transferable, is exercisable to acquire one Unit at $0.12 per Unit, at any time during the period of two years following the date of issue. In connection with the May 13, 2020 Closing, total cash commissions of $78,640 were paid.