CardioComm Solutions Issues Stock Options
20 Fevereiro 2014 - 9:00PM
Access Wire
TORONTO, ONTARIO, February 20, 2014 -
CardioComm Solutions, Inc. (TSX VENTURE:EKG)
("CardioComm Solutions" or the "Company") today announced that an
aggregate of 567,460 incentive stock options have been granted to
two directors of the Company and to a contractor of the Company.
The 417,460 options issued to the directors are exercisable at
$0.18 per share for five years from the date of grant, vest equally
over 18 months at the end of each three month period from the date
of grant and are subject to a four month hold period. The 150,000
options issued to the contractor are exercisable at $0.15 per share
for five years from the date of grant, vest equally over 18 months
at the end of each three month period from the date of grant and
are subject to a four month hold period. The grant of options is
subject to the provisions of the Company's Omnibus Share
Compensation Plan, the policies of the TSX Venture Exchange and
applicable securities laws.
The Company also
announced an amendment to its software license agreement with MD
Primer Inc., which was previously announced by the Company on
January 22, 2014. Under the amendment, if the Company elects to
repurchase the software license from MD Primer, the repurchase
price will now be payable, at MD Primer's option,
in cash or by the issuance of units of the Company
(each, a "Unit"), at a price per Unit equal to the average closing
price of the Company's shares on the 20 trading days preceding the
date the option is exercised by the Company. Each Unit will be
comprised of one Company common share and one common share purchase
warrant, with each warrant exercisable for an additional share for
two years from the date of issuance at an exercise price equal to
the price per Unit.
The Company also
announced that it has issued an aggregate of 35,610 common shares
of the Company to Simi Grosman, a director of the Company. The
shares were issued at a deemed price of $0.126 per share, for a
total value of $4,500, for services rendered to the Company in the
months of October, November and December 2013 pursuant to a
services agreement previously disclosed by the Company on March 8,
2013. The shares were issued at a 5% premium to the closing price
of the Company's shares at the end of each month in which services
were provided. The shares issued are subject
to a four month hold period which will expire on June 21,
2014.
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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