| CardioComm Solutions, Inc. Announces Private Placement Equity Financing
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Victoria, B.C., June 26, 2008 - CardioComm Solutions, Inc. (TSX-V: EKG) (“CardioComm” or the “Company”) today announced that it will be conducting a non-brokered private placement equity financing under which it will issue 3,500,000 units at a price of $0.10 per unit for gross proceeds of $350,000. The proceeds are intended to replace the funds that were expected to be received by the Company under the fourth and final tranche of the Company’s previously announced convertible note financing, which fourth tranche will not be completed. 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 $0.20. 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 proceeds from the financing will be used for general working capital of the Company. 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™) and GlobalCardio™. 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
For investor information, please contact : Ian Klassen 1-877-744-1122
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