CardioComm Solutions, Inc. Closes Private Placement Equity Financing
Victoria, B.C., August 11, 2008 - CardioComm Solutions, Inc. (TSX-V: EKG) ("CardioComm" or the "Company") today announced that it has closed its previously announced non-brokered private placement equity financing. Under the financing, the Company issued 3,500,000 units at a price of $0.10 per unit, with each unit comprising one common share of the Company and one common share purchase warrant exercisable for an additional share at a price of $0.20. The Company realized gross proceeds of $350,000 from the financing, which will be used for general working capital of the Company. The shares and warrants issued by the Company are subject to a four month hold period, which will expire on December 9, 2008.
About CardioComm Solutions, Inc.
CardioComm's patented and proprietary technology is used in products for the recording, viewing, analyzing and storing of electrocardiograms (EKGs), for diagnosis and management of cardiac patients. The Company's products are sold worldwide through a combination of its external distribution network and its North American based sales team. CardioComm has achieved its technical goals of improved access and communication through the development of a real-time EKG viewer. CardioComm is the first company to provide a real-time means of viewing EKGs over a network (LAN, WAN or Internet). This tool enables EKGs to be viewed and controlled live, by physicians, over a global virtual healthcare network. This technology is marketed as Global EKG Management System (GEMS(TM)) and GlobalCardio(TM). CardioComm's software products have been cleared for sale in the United States by the U.S. Food and Drug Administration. The Company has earned the latest ISO 13485 certification.
On behalf of the Board of Directors of CardioComm Solutions, Inc.
" Anatoly Langer "
Anatoly Langer, Chairman of the Board
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