| |
FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
Funding will be used as
bridge financing to complete Q1 2014
objectives
TORONTO, ONTARIO - CardioComm
Solutions, Inc. (TSX VENTURE:EKG)
("CardioComm Solutions" or the "Company") today
announced that it has re-priced its previously
announced equity financing. The Company will now
be conducting a private placement equity
financing under which it intends to issue
15,000,000 units at a price of $0.0675 per unit
for gross proceeds of $1,012,500. Each unit will
be comprised of one common share of the Company
and one common share purchase warrant
exercisable for two years for an additional
share at a price of $0.10. The
securities to be issued under the financing will
be subject to a four month hold period. The
terms of the financing are subject to the
approval of the TSX Venture Exchange.
The Company previously announced the private
placement on December 11, 2013 at a price of
$0.12 per unit. "When we announced our private
placement in December we did so at a discount to
the market. In response to current market
prices, we have re-priced to maintain the market
price discount," said Etienne Grima, CEO of
CardioComm Solutions.
The funds to be raised from the private
placement will be used for completion and Beta
releases of the Company's Global ECG Management
Solution (GEMS™), GEMS™ MCT and ECG triaging
software, all with target releases in Q1 2014.
The software markets targeted will include
independent diagnostic testing facilities
(IDTFs) and arrhythmia service providers.
Funding will also be used for the introduction
of Bluetooth-enabled ECG devices into the
CardioComm Solutions' patent pending SMART
Monitoring ECG service under the HeartCheck™
brand, some of which already have FDA clearances
for sale in the USA.
More information regarding the HeartCheck™
products and SMART monitoring solutions is
available at the Company's web site
www.theheartcheck.com.
download pdf 
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 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
investorrelations@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.
|
|
