MedXtractor Corp. has filed a preliminary prospectus in connection with a proposed initial public offering. The company intends to issue up to 20 million common shares at $0.10 per share for gross proceeds of up to $2 million.
MedXtractor has applied to list its shares on the Canadian Securities Exchange (CSE).
PI Financial Corp. acts as agent for the offering. Heighington Law and Burstall Winger Zammit LLP act as legal counsel to MedXtractor and the agent respectively.
MedXtractor currently has 15,000,100 common shares issued and outstanding. The newly incorporated company has raised $250,000 in two rounds of private placement financing priced at $0.02 and $0.04 per share.
Calgary based MedXtractor is engaged in the business of manufacturing and selling a range of proprietary sub/supercritical small-scale carbon dioxide-based extractors (CO2 Extractors) that are used to extract essential oils and compounds from a variety of botanical materials. The company currently manufactures CO2 Extractors of 2oz, 5oz and 16oz capacities. The company believes that demand for its SSCO2 Extractors will initially be from individual authorized growers of cannabis for medical purposes under the current ACMPR.
photo credit: MedXtractor