CardioComm Solutions Completes Debt Equity Issuance | 2022-02-03 | Press Releases
Toronto, Ontario–(Newsfile Corp. – February 3, 2022) – CardioComm Solutions, Inc. (TSXV: EKG) (“CardioComm“or the”Society“), a global medical provider of cardiac monitoring and medical electrocardiogram (“EKG“) software solutions, announced that it has completed an equity issuance for debt (see the Company’s press release dated December 31, 2021 for the Company’s initial announcement regarding the proposed equity issuance for the debt).
Pursuant to debt settlement agreements, the Company issued a total of 571,740 common shares of the Company (“Shares“) at a price of $0.05 per share to the directors and a former director of the Company to settle a debt in the aggregate amount of $28,587 incurred for services provided to the Company. The shares are subject to a period four-month holding period expiring June 4, 2022, in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The directors of the Company participated in the Debt Settlement Transaction, which is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 (“MI 61-101The transaction is exempt from the formal valuation and minority shareholder approval requirements of NI 61-101, as the fair market value of the transaction does not exceed 25% of the Company’s market capitalization, as determined pursuant to NI 61-101.
To learn more about CardioComm’s products and for other updates regarding HeartCheck™ ECG device integrations, please visit the company’s websites at www.cardiocommsolutions.com and www.theheartcheck.com.
About CardioComm Solutions
CardioComm Solutions’ patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for the diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a sales team based in North America. CardioComm Solutions is ISO 13485 certified, HIPAA compliant, and holds EU (CE Mark), US (FDA) and Canadian (Health Canada) clearances.
This press release may contain certain forward-looking statements and information regarding the financial condition, results of operations and businesses of CardioComm Solutions and certain of CardioComm Solutions’ plans and objectives with respect to these items. These statements and information reflect management’s current beliefs and are based on information currently available to management. By their nature, forward-looking statements and forward-looking information involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause results and Actual developments differ materially from those expressed. or implied by such forward-looking statements and forward-looking information.
When evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company undertakes no obligation to update any forward-looking statements and forward-looking information contained in this release other than as required by applicable law, including, without limitation, Section 5.8(2) of National Instrument 51-102 (Continuous disclosure obligations).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112772