FOR: CARDIOCOMM SOLUTIONS, INC.
TSX VENTURE SYMBOL: EKG
November 30, 2016
Increased investment market exposure to complement immediate and long- term financing objectives
TORONTO, ONTARIO - CardioComm Solutions, Inc. (TSX VENTURE:EKG) (“CardioComm Solutions” or the “Company”), a global medical provider of consumer heart monitoring and medical electrocardiogram (“ECG”) software solutions, today announced that it has engaged the services of FronTier Merchant Capital Group ("FronTier") to provide it with investor relations services.
FronTier is a highly experienced and recognized investor relations group, headquartered in Toronto with additional offices and IR reps across Canada and the USA. FronTier will assist the Company in increasing market awareness by facilitating corporate introductions between CardioComm Solutions and institutional brokers and investors, as well as by engaging the industry’s best retail marketing firms to assist the Company.
Under the terms of the engagement, FronTier has been retained for a fee of $6,250 (plus HST) per month. CardioComm Solutions has also issued 300,000 incentive stock options to FronTier at an exercise price of $0.075, vesting in equal quarterly installments over 12 months and expiring five years from the date of grant. FronTier and its related companies currently own a total of 2,700,000 common shares of the Company.
By engaging FronTier, the Company seeks to increase CardioComm Solutions’ awareness within the institutional investor marketplace over the next several quarters, both in Canada and the US.
FronTier’s engagement coincides with the Company’s announcement of its best three-quarter fiscal performance in 17 years. The Company also continues to address its immediate priority to retire an outstanding debt of $900,000 that is due at the end of December 2016. CardioComm Solutions will also seek to structure follow-up financing through institutional investments for use in increasing sales of CardioComm Solutions’ consumer and medical ECG management software technologies. In addition, these funds will be used to quicken medical device marketing submissions for the Company’s developing portfolio of handheld and wearable ECG monitoring devices and fee-for-service SMART Monitoring ECG services.
To learn more about CardioComm Solutions please see the Company’s websiteswww.theheartcheck.com and www.cardiocommsolutions.com or contact the Company at email@example.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, Ontario, Canada.
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 forward-looking information.
In evaluating these statements, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release 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.