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CELL MEDX CORP
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Cell MedX Corp. Closes the First Tranche of Its Non-Brokered Private Placement Financing, Converts Debt

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10/19/2017 | 02:05pm CET

Carson City, Nevada--(Newsfile Corp. - October 19, 2017) - Cell MedX Corp. (OTCQB: CMXC) ("Cell MedX" or the "Company"), an early development stage bio-tech company focusing on the discovery, development and commercialization of therapeutic and non-therapeutic products that promote general wellness, is pleased to announce that on October 12, 2017, the Company closed the first tranche of its non-brokered private placement offering (the "Offering") at a price of $0.25 per unit (the "Unit"), by issuing 1,480,000 Units for total gross proceeds of $370,000.

Each Unit sold under the Offering consisted of one common share of the Company and one share purchase warrant entitling the holder to purchase one additional common share for a period of three years after closing at an exercise price of $0.50 per share if exercised during the first year, $1.00 per share if exercised during the second year, and $1.50 per share if exercised during the third year.

The Units were issued pursuant to the provisions of Regulation S of the United States Securities Act of 1933, as amended (the "Act") to the persons who are not residents of the United States and are otherwise not "U.S. Persons" as that term is defined in Rule 902(k) of Regulation S of the Act.

The Company will use the proceeds from the Offering to fund its current business operations and to continue the ongoing development of its eBalance Pro Devices.

The above does not constitute an offer to sell or a solicitation of an offer to buy any of Cell MedX's securities in the United States. The securities have not been registered under the U.S. Securities Act and may not be offered or sold within the United States or to U.S. persons unless an exemption from such registration is available.

In addition to the closing of the first tranche, on October 12, 2017, the Company finalized its debt reorganization by converting a total of $459,282 the Company owed under its notes payable to non-affiliated parties and $120,254 under services payable to its director, CEO and President into 2,318,144 shares of the Company's common stock at $0.25 per share.

About Cell MedX Corp. (OTCQB: CMXC) 

Cell MedX Corp. is an early development stage company focused on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes, by developing technologies to help manage both the illness and related complications. For more information about the Company and its technology please visit our website at: www.cellmedx.com, for the Company's weekly newsletter, please go to www.cellmedx.com/media/newsletters/

On behalf of the Board of Directors of Cell MedX Corp.

Frank McEnulty
Chief Executive Officer and President.

Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects", "intends", "estimates", "projects", "anticipates", "believes", "could", and other similar words. All statements addressing product performance, events, or developments that the Company expects or anticipates will occur in the future are forward-looking statements. Because the statements are forward-looking, they should be evaluated in light of important risk factors and uncertainties, some of which are described in the Company's Quarterly, Annual and Current Reports filed with the United States Securities and Exchange Commission (the "SEC"). Should one or more of these risks or uncertainties materialize, or should any of the Company's underlying assumptions prove correct, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Company's forward-looking statements. In particular, the Company's eBalance Technology is still in development. The Company does not currently have any commercially marketable products based on the eBalance Technology, and there is no assurance that the Company will be successful in its development efforts. Except as required by law, Cell MedX Corp. disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. No stock exchange, securities commission or other regulatory body has reviewed nor accepts responsibility for the adequacy or accuracy of this release. Investors are advised to carefully review the reports and documents that Cell MedX Corp. files from time to time with the SEC, including its Annual, Quarterly and Current Reports.

SOURCE:
Cell MedX Corp.
For further information visit: www.cellmedx.com.
Or phone: 1-844-238-2692


© Newsfilecorp 2017
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NameTitle
Frank E. Mcenulty President, Chief Executive Officer & Director
Bradley Hargreaves Director, VP-Technology & Operations
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