CardioComm Solutions Closes Second Tranche of Equity Financing; Company Remains on Track to Complete $1 Million in Financing ...
31 Enero 2014 - 8:00AM
Access Wire
TORONTO, ONTARIO - CardioComm Solutions,
Inc. (TSX VENTURE:EKG) ("CardioComm
Solutions" or the "Company") announced today it has closed the second tranche of its previously announced
private placement equity financing. Under the
financing, the Company issued 2,648,000 units at a price of $0.0675
per unit, for gross proceeds of $178,740. Each unit was 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. For further information regarding the financing,
please see the Company's press release that was issued on January
9, 2014. The gross proceeds from the financing 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 expires on May 31,
2014. The Company also
confirmed that it will continue its current private placement
equity financing offer.
In addition,
CardioComm Solutions announced that it intends to issue 35,610
shares to Mr. Simi Grosman, a member of the Company's board of
directors, for services rendered to the Company in the months of
October to December of 2013 pursuant to a services agreement dated
January 11, 2013. Shares are issued at a 5% premium to the closing
price of the Company's shares at the end of each month and present
a scheduled payment that will occur once per fiscal quarter. The
shares will be issued at a deemed price of $0.126 per share, for a
total value of $4,500. The issuances of the shares are subject to
the approval of the TSX Venture Exchange.
The Company continues
to inform interested investors that a potential exists where the
January 9, 2014 price reservation of a share price offering with a
25 percent discount to a nine cent market price may need to be
re-priced with no advanced notice. Should the Company issue a press
release that causes a material change in share market price, the
Company would need to re-price the private placement offering
accordingly.
About CardioComm Solutions
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, with
offices in Victoria, B.C.
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x 227
investorrelations@cardiocommsolutions.com
www.cardiocommsolutions.com
Forward-looking statements
This release may
contain certain forward-looking statements and forward looking
information 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. Such 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 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 and forward-looking
information.
In evaluating these
statements, readers should: specifically
consider risks discussed under the heading "Risk Factors" in the
Company's Annual Information Form, available at www.sedar.com; not to place undue
reliance on forward-looking statements and forward-looking
information; be aware the Company does not assume any obligation to
update the forward-looking statements and forward-looking
information contained in this Annual Information Form other than as
required by applicable laws, including without limitation Section
5.8(2) of National Instrument 51-102 (Continuous Disclosure
Obligations).
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.
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