FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
January 29, 2017
Financing allows investment by parties not able to participate in December, 2016 equity raise
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”) today announced that it is conducting a non-brokered private placement equity financing under which it intends to issue up to 3,000,000 units at a price of $0.05 per unit for gross proceeds of up to $150,000.
Each unit will be comprised of one common share and one common share purchase warrant, exercisable for one additional share at a price of $0.075 within two years of purchase. There is no minimum offering amount. 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.
This equity financing will allow parties, who were not able to participate in the Company’s December, 2016 raise, to invest in the Company. The proceeds from the financing will be used for general operations, regulatory submissions and working capital.
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, Ontario, Canada.
INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
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.