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TORONTO, ONTARIO – CardioComm Solutions, Inc. (TSX VENTURE: EKG) (“CardioComm” or the “Company”),
a leading global medical provider of consumer heart monitoring and electrocardiogram (“ECG”) acquisition and management software solutions,
announced that it has completed an issuance of shares for debt (see the Company’s press release
dated December 31, 2021 for the Company’s initial announcement respecting the proposed shares for debt
issuance).
Under debt settlement agreements, the Company has issued an aggregate of 571,740 common shares of the
Company (“Shares“) at a price of $0.05 per Share to directors and to a former director of the Company to
settle debt in the aggregate amount of $28,587 incurred for services provided to the Company. The Shares
are subject to a four month hold period that will expire June 4, 2022, in accordance with the policies of the
TSX Venture Exchange and applicable securities laws.
Directors of the Company participated in the debt settlement transaction, which is considered to be a “related
party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101“). The transaction is exempt
from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market
value of the transaction does not exceed 25% of the market capitalization of the Company, as determined in
accordance with MI 61-101.announced that it has completed an issuance of shares for debt (see the Company’s press release
dated December 31, 2021 for the Company’s initial announcement respecting the proposed shares for debt
issuance).
To learn more about CardioComm’s products and for further updates regarding HeartCheck™ ECG device integrations, please visit the Company’s websites at
www.cardiocommsolutions.com and www.theheartcheck.com.
