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FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
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 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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