MPX International Corporation announced a private placement of short-term loan for up to approximately CAD 3,800,000 on October 5, 2021. The transaction will include participation from a group of current investors. The transaction is to be drawn down in several tranches. The bridge loan will mature 6 months from the date of issuance and bear interest at a rate of 12% per annum calculated in arrears and payable in cash on the earlier of the maturity date or concurrently with the conversion of the bridge loan into the non-brokered private placement transaction of units. The company will also issue common share purchase warrants to lenders on the basis of 10 bonus warrants for each CAD 1.36 of principal. Each bonus warrant shall be exercisable for a period of sixty months from the date of issuance and enable the holder thereof to purchase one common share at an exercise price equal to CAD 0.12 per common share. In addition the company shall also grant the holder an option to acquire one unit of Salus International Management Ltd. from the company for each CAD 2 of bridge loan advanced by the holder. In connection with the closing of the loan, the company will pay an aggregate finder's fee of approximately CAD 35,768 and issue an aggregate of 263,000 compensation warrants to eligible finders. Each Compensation Warrant entitles the holder to purchase one Common Share at a price of CAD 0.12 for a period of 24 months from the applicable closing date of the Bridge Loan.

On the same day, the company received CAD 1,224,000 in its first tranche closing.