(via Thenewswire.ca)
TORONTO, ONTARIO - July 12, 2013. CardioComm Solutions, Inc. ("CardioComm Solutions" or the "Company") (TSX VENTURE:EKG), a global medical provider of ECG acquisition and management software solutions, today announced that it has agreed to issue 350,000 common shares of the Company at a deemed price of $0.15 per share as compensation for $52,500 worth of services provided to the Company by an arm's length service provider. The services provided were previously described by the Company in a press release dated March 8, 2013.
In addition, CardioComm Solutions announced that it intends to issue 27,129 shares to Mr. Simi Grosman, a member of the Company's board of directors, for services rendered to the Company in the months of April, May and June of 2013 pursuant to a services agreement dated January 11, 2013. The shares will be issued at a 5% premium to the closing price of the Company's shares at the end of each month and present a scheduled payment that will occur once per fiscal quarter. The total value of the shares to be issued is $4,500.
"While this is business as usual, the larger issuance of shares represents yet another relationship with an organization that requested shares for services provided. As the deliverables are now completed, we will be reporting on the nature of this relationship in a separate press release following delivery of the required shares," reported Etienne Grima, Chief Executive Officer of the Company.
The issuances of the shares are subject to the approval of the TSX Venture Exchange.
About CardioComm Solutions
CardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms (ECGs) for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. The Company has earned the ISO 13485 certification, is HPB approved, HIPAA compliant, and has received FDA market clearance for its software devices. CardioComm Solutions, Inc. is headquartered in Toronto, Canada with offices in Victoria, B.C.
For Further Information On Cardiocomm Solutions Please Contact:
Etienne Grima, Chief Executive Officer
1-877-977-9425
egrima@cardiocommsolutions.com
www.cardiocommsolutions.com
Forward-looking statements
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of CardioComm Solutions and certain of the plans and objectives of CardioComm Solutions with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2013 TheNewswire - All rights reserved.