(via Thenewswire.ca)
TORONTO, ONTARIO - August 2, 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 issued an aggregate of 377,129 common shares of the Company in settlement of services provided, as previously described in the Company's press release dated July 12, 2013.
A total of 350,000 common shares were issued at a deemed price of $0.15 per share, for a total value of $52,500, to an arm's length service provider as compensation for services to be described in a subsequent press release. An additional 27,129 common shares were issued 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 were issued at a 5% premium to the closing price of the Company's shares at the end of each month and represent a scheduled payment under the services agreement that will occur once per fiscal quarter. The total value of the shares issued is $4,500.
The shares issued are subject to a four month hold period which will expire on December 1, 2013.
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.
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