NEX COMPANY:
BULLETIN V2025-2272
VVT MED INC. ("VVTM")
[formerly, DXI Capital Corp. ("DXI.H")]
BULLETIN TYPE: Reverse Takeover-Completed, Shares for Debt, Name Change and Consolidation, Graduation from NEX to TSX Venture, Resume Trading
BULLETIN DATE: July 29, 2025
NEX Company
Reverse Takeover-Completed:
The TSX Venture Exchange (the "Exchange") has accepted for filing VVT Med Inc.'s (formerly, DXI Capital Corp.) (the "Company") filing statement dated May 15, 2025 which describes the Company's Reverse Takeover (the "Reverse Takeover"), which includes the following transactions:
Pursuant to a definitive business combination agreement dated September 30, 2024 among the Company, V.V.T. Med Ltd. ("VVT") and Exiteam Acquisition Corp. ("EAC") (the "Agreement"), the Company has acquired all shares of VVT (the "VVT Shares") and EAC (the "EAC Shares") in exchange for 53,421,462 common shares on a post-consolidation basis (described below) of the Company at a deemed price of $0.56 per share for an aggregate deemed value of approximately $29,916,018 (excluding the concurrent financing of EAC subscription receipts (the "Subscription Receipts") and VVT convertible debentures (the "Convertible Debentures")).
For further information, refer to the Company's closing news release dated July 22, 2025 and its filing statement dated May 15, 2025 filed on SEDAR+.
Pursuant to the Reverse Takeover, EAC completed a non-brokered private placement of Subscription Receipts by issuing 6,955,498 Subscription Receipts at a price of $0.56 per Subscription Receipt to raise aggregate gross proceeds of $3,895,078.76. Additionally, VVT issued Convertible Debentures with a face value of approximately $922,477 for gross proceeds of $781,761.
Each Subscription Receipt represented the right of the holder to receive, immediately prior to the closing of the Reverse Takeover, one unit of EAC (each a "Unit") with each Unit consisting of one EAC Share and one warrant to acquire an EAC Share (a "Unit Warrant"). Each Unit Warrant is exercisable into one EAC Share at an exercise price of $0.84 per EAC Share for a period of two years from the issuance date of the Unit Warrants. On closing of the Reverse Takeover, all of the Units were exchanged for equivalent securities of the Company on a one-for-one basis.
Shares for Debt:
Debt Settled: $1,150,000
Securities Issued: 2,053,571 Listed Shares
Issue Price: $0.56 per Listed Share
Warrant Exercise Terms: N/A
Disclosure: Refer to the company's news release dated July 22, 2025.
Name Change and Consolidation:
Pursuant to a director's resolution dated September 30, 2024, the Company has consolidated its share capital on a 4.67 old for one 1 new basis and the name of the Company has been changed to VVT Med Inc.
Effective at the opening on July 31, 2025, the common shares of VVT Med Inc. will be listed on the Exchange, and the common shares of DXI Capital Corp. will be delisted. The Company is classified as a Tier 2 'life sciences' company.
Capitalization: Unlimited number of common shares with no par value of which
66,640,102 Shares are issued and outstanding
Escrow: 5,299,717 common shares will be subject to Tier 2 escrow
Transfer Agent: Computershare Trust Company of Canada
Trading Symbol: VVTM (new)
CUSIP Number: 91841T108 (new)
Issuer Contact:
Issuer Address: Suite 2200, 700 W Georgia Street, Vancouver, British Columbia, V7Y 1K8, Canada
Issuer Phone Number: +972 97660480
Issuer email: info@vvtmed.com
NEX Reactivation:
The Company has met the requirements to be listed as a TSX Venture Tier 2 Company. Therefore, effective on open of trading on July 31, 2025, the Company's listing will transfer from NEX to TSX Venture, the Company's Tier classification will change from NEX to Tier 2 and the Filing and Service Office will change from NEX to Vancouver.
Resume Trading:
Effective at the opening on July 31, 2025, the trading symbol for the Company will change from "DXI.H" to "VVTM" and the Company's shares will resume trading.
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