CardioComm Solutions Re-Prices Previously Announced Equity Financing
10 Janvier 2014 - 12:42AM
Access Wire
TORONTO, ONTARIO - CardioComm Solutions,
Inc. (TSX VENTURE:EKG) ("CardioComm
Solutions" or the "Company") today announced that it has re-priced
its previously announced equity financing. The Company will now be
conducting a private placement equity financing under which it
intends to issue 15,000,000 units at a price of $0.0675 per unit
for gross proceeds of $1,012,500. Each unit will be 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. The securities to be issued under the financing
will be subject to a four month hold period. The terms of the
financing are subject to the approval of the TSX Venture
Exchange.
The Company
previously announced the private placement on December 11, 2013 at
a price of $0.12 per unit. "When we announced
our private placement in December we did so at a discount to the
market. In response to current market prices, we have re-priced to
maintain the market price discount," said Etienne Grima, CEO of
CardioComm Solutions.
The funds to be
raised from the private placement will be used for completion and
Beta releases of the Company's Global ECG Management Solution
(GEMSTM),
GEMSTM MCT and ECG
triaging software, all with target releases in Q1 2014. The
software markets targeted will include independent diagnostic
testing facilities (IDTFs) and arrhythmia service providers.
Funding will also be used for the introduction of Bluetooth-enabled
ECG devices into the CardioComm Solutions' patent pending SMART
Monitoring ECG service under the HeartCheckTM brand, some of which already have FDA
clearances for sale in the USA.
More information
regarding the HeartCheckTM
products and SMART monitoring solutions is available
at the Company's web site www.theheartcheck.com.
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
investorrelations@cardiocommsolutions.com
www.cardiocommsolutions.com
Forward-looking statements
This release may contain certain
forward-looking statements 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. By their nature, forward-looking statements
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.
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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