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.
