Mr. Bill Mitoulas reports

MEDX ANNOUNCES INTENTION TO SEEK ACCEPTANCE FOR AMENDMENT TO SERIES I CONVERTIBLE LOAN NOTES

MedX Health Corp. is making an application to the TSX Venture Exchange 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 $3.75-million. The Series I loan notes, originally issued in the first quarter of 2021, pay interest quarterly at 6 per cent per year, mature on Dec. 31, 2023, and are convertible, at the option of the holder, into units at 14 cents per unit; each unit comprises one fully paid common share and one-half of a share purchase warrant; each whole warrant is exercisable up until the original maturity date to acquire a further common share at 20 cents. 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 Dec. 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 two millimetres 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 Conformite Europeenne for use in Canada, the United States, Australia, New Zealand, the European Union, Brazil and Turkey.

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