Agreement is expected to expand sales of the HeartCheck™ PEN ECG device and SMART Monitoring ECG Services
TORONTO, ONTARIO – CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”) today announced that it has entered into a sales and marketing agreement for growing and managing the Company’s HeartCheck™ ECG related business in drug chains, mass retailers, club retailers, grocery retailers and distributors’ head offices in the USA.
Under the five year agreement, CardioComm Solutions will issue 375,000 common shares to the consulting group (“Consultant”) for $18,750 of services provided by Consultant between October 1, 2014 and December 31, 2014, and will issue an additional $15,000 of common shares of the Company for services to be provided from January 1, 2015 to March 31, 2015 at a price per share equal to the greater of $0.05 or the closing price of the shares on the TSX Venture Exchange on March 31, 2015, whichever is greater. Any issuances of common shares of the Company are subject to the approval of the TSX Venture Exchange and applicable securities laws. After March 31, 2015, the Consultant will be provided commission based fees generated from the sales of HeartCheck™ ECG devices and recurrent SMART Monitoring ECG services use.
The USA retail pharmacy agreement was executed following the completion of pre-set Canadian retail pharmacy milestones.
For more about the Company’s HeartCheck™ products and services and retail pharmacy sales can be seen at www.theheartcheck.com.
