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.
