08:56 AM EDT, 10/06/2025 (MT Newswires) -- MedX Health ( MDXHF ) over the weekend said it completed the initial closing of the non-brokered private placement to accredited investors, raising cash proceeds of $527,500.

The initial closing included the issuance of around 7.03 million units.

Under the non-brokered private placement, the company plans to issue up to a maximum of around 33.33 million units at $0.075 each to raise a maximum amount of $2.5 million.

Each unit includes one fully paid common share and one-half of a share purchase warrant. Each whole share purchase warrant will be exercisable to purchase one further common share at the price of $0.10, during the period of one year commencing on the date of issue.

The company said that further closings are anticipated following the initial closing, subject to relevant regulatory acceptance and to receipt of further subscriptions and a number of other conditions.

It is expected that, subject to compliance with relevant regulatory provisions, certain insiders will participate in the placement.

MedX Health ( MDXHF ) said that funds raised in the placement will be directed toward continuing development of its leading edge SIAscopy on DermSecure telemedicine platform, building out the launch of its technology into the occupational health marketplace, and general corporate purposes.

The company further said that, subject to acceptance by the TSX-V, the ultimate closing date for the non-brokered private placement, will be extended to Nov. 7, 2025.

The company said it already received conditional acceptance for the placement from the TSX-V, but closing for the full amount of the proposed placement has been delayed.