Mr. Bill Mitoulas reports

MEDX ANNOUNCES PROPOSED NON-BROKERED PRIVATE PLACEMENT TO RAISE UP TO $2,000,000 AND PROVIDES AN UPDATE ON AMENDMENT TO SERIES I CONVERTIBLE NOTES

MedX Health Corp. is proposing to raise up to $2-million by way of a non-brokered private placement of up to 28,571,428 units at seven cents per unit. A price reservation form for this proposed placement was filed with the TSX Venture Exchange on April 19, 2024. Each unit will comprise one fully paid common share and one share purchase warrant, exercisable to purchase one further common share at the price of 12 cents, exercisable for a period commencing on the date of issue and expiring on Dec. 31, 2026. Closing of the placement, which may take place in tranches, will be subject to receipt of subscriptions for a minimum of $500,000 and a number of other conditions, including, without limitation, the receipt of all relevant regulatory and stock exchange approvals or acceptances. Qualified agents may receive commissions in respect of subscriptions introduced by them by way of cash equal to 6 per cent of funds so introduced. Warrants to be issued will have a call feature, empowering the company to call the warrants for exercise at any time while they are outstanding after Jan. 1, 2026, if the average closing price of the company's common shares on the market over a period of 20 trading days in any period of 30 consecutive trading days is at or above 24 cents. The call procedure provides that the company may give notice to exercise within 30 days, after which date any unexercised warrants will become void.

Further to its press release dated Dec. 12, 2023, it obtained conditional acceptance from the TSX-V to amend the terms of the Series I convertible loan notes by extending the maturity date from Dec. 31, 2023, to Dec. 31, 2025. At this time, while the majority of the noteholders have agreed to extension of the maturity date, negotiations are continuing with a small group of holders who have not yet so agreed. The company anticipates that the outstanding issues will be resolved in the near future and, in the meantime, all interest payments on the loan notes are current. The Series I loan notes, originally issued in the first quarter of 2021, pay interest quarterly at 6 per cent per year 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 maturity date to acquire a further common share at 20 cents.

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 embedded 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.