VICTORIA, BRITISH COLUMBIA -- 11/24/09 --
CardioComm Solutions, Inc. (TSX VENTURE: EKG) ("CardioComm" or the "Company") today announced that it has settled an aggregate of $162,500 of outstanding debt of the Company in exchange for the issuance of common shares. The debt represents accrued management fees for the second and third quarters of 2009. Allocations of shares are as follows: Dr. Anatoly Langer, the Company's Chairman and interim CEO, will receive 1,500,000 shares representing $75,000 of debt; Etienne Grima, the Company's CFO and Secretary, will receive 1,000,000 shares representing $50,000 of debt; and Healthcare Works Inc. which provides Chief Medical Officer services to the Company and is under the control or direction of Dr. Anatoly Langer, will receive 750,000 shares representing $37,500 of debt. The shares for debt transactions are being undertaken pursuant to management agreements previously approved by the TSX Venture Exchange in 2008.
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(TM)) and GlobalCardio(TM). 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.
"Anatoly Langer"
Dr. Anatoly Langer, Chairman
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
CardioComm Solutions, Inc.
Dr. Anatoly Langer
1-800-725-6585, ext. 264
www.cardiocommsolutions.com
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