FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
Agreement is expected to expand sales of the HeartCheck™ PEN ECG device and SMART Monitoring ECG Services
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”) today announced that it has entered into a sales and marketing agreement for growing and managing the Company’s HeartCheck™ ECG related business in drug chains, mass retailers, club retailers, grocery retailers and distributors’ head offices in the USA.
Under the five year agreement, CardioComm Solutions will issue 375,000 common shares to the consulting group (“Consultant”) for $18,750 of services provided by Consultant between October 1, 2014 and December 31, 2014, and will issue an additional $15,000 of common shares of the Company for services to be provided from January 1, 2015 to March 31, 2015 at a price per share equal to the greater of $0.05 or the closing price of the shares on the TSX Venture Exchange on March 31, 2015, whichever is greater. Any issuances of common shares of the Company are subject to the approval of the TSX Venture Exchange and applicable securities laws. After March 31, 2015, the Consultant will be provided commission based fees generated from the sales of HeartCheck™ ECG devices and recurrent SMART Monitoring ECG services use.
The USA retail pharmacy agreement was executed following the completion of pre-set Canadian retail pharmacy milestones.
For more about the Company’s HeartCheck™ products and services and retail pharmacy sales can be seen at www.theheartcheck.com.
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, Canada, with offices in Victoria,
INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
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
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
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