MedX Health Corp. (TSX-V: MDX) completed a private placement of Series IV Convertible Loan Notes totaling $2.8 million, according to a company statement.

The placement included an initial closing of $2.7 million on February 27, 2026, with an additional $100,000 in subsequent subscriptions. Of the initial amount, $2.4 million came from holders of Series I Convertible Loan Notes who surrendered their existing notes for the new series, while $300,000 represented new subscriptions.

The Series IV Notes carry a 6% annual interest rate paid quarterly and mature on December 31, 2028. Note holders may convert their investment into units at $0.10 per unit before the maturity date. Each unit consists of one common share and half of a share purchase warrant, with each full warrant exercisable at $0.125 per share until maturity.

Qualified agents received $6,000 in cash commissions and 60,000 agent's warrants for the placement. No commissions were paid on the $2.4 million portion involving the surrender of Series I Notes.

The company allocated $2.4 million of the proceeds to replace the surrendered Series I Notes. The remaining funds will support development of the company's SIAscopy technology on the DermSecure telemedicine platform, expansion into occupational health markets, and general corporate purposes.

Certain company insiders participated in the placement. MedX relied on exemptions from formal valuation and minority shareholder approval requirements under securities regulations, as the insider participation did not exceed 25% of the company's market capitalization.

MedX develops medical technology for non-invasive skin screening and teledermatology through its SIAscopy imaging technology and DermSecure platform.