http://www.CardioComm.com () —
CardioComm Solutions, Inc. (TSX VENTURE: EKG) ("CardioComm" or the
"Company") today announced that it has settled an aggregate of
$70,000.00 of outstanding debt of the Company in exchange for the
issuance of common shares. The debt represents fees owed by the
Company to service providers. Under debt settlement agreements between
the Company and the Creditors, the Company has agreed to issue an
aggregate of 1,400,000 common shares of the Company to the Creditors
(at a deemed price of $0.05 per share) in full and final settlement of
the debt. The debt settlement and the issuance of the common shares
are subject to the approval of the TSX Venture Exchange.
Etienne Grima, the Company's CEO, said, "We are pleased that our
service providers have chosen to provide their long-term support to
CardioComm Solutions, Inc."
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.
Dr. Anatoly Langer, Chairman
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.