MedX Health Corp announced a private placement of Secured Convertible Debenture for proceeds of CAD 1,500,000 on November 18, 2022. The transaction will include participation from returning investor Forest Lane Holdings Limited. Interest will be payable at 8% per year, payable Quarterly.

The Convertible Debenture will be secured by a fixed and floating charge over all assets and undertaking of the Borrower, will have a Term of Five Years and will be subject to customary provisions in the event of default. Acceptance by the TSX Venture Exchange and any other relevant regulatory or other consents and approvals. The Debenture will be convertible into Units at the option of the Lender.

Each Unit shall comprise one common share and one share purchase Warrant. Conversion price shall be calculated at the time of Drawdown. In respect of any Drawdown that closes during the period of 45 days following the Price Reservation Date in respect of the Placement, the Conversion Price shall be CAD 0.05 per Unit, provided that if the Conversion Right is exercised after the first anniversary of the Initial Price Reservation Date then the Conversion Price applicable to Units issuable in respect the Initial Drawdown for the remainder of the Term shall be CAD 0.10.

The Exercise Price of Warrants comprised in Units issuable in respect if the Initial Drawdown shall be CAD 0.20.