Business
CardioComm Solutions Announces Intention to Settle Outstanding Debt with Issuance of Shares
Toronto, Ontario--(Newsfile Corp. - July 25, 2025) - CardioComm Solutions, Inc. (TSXV: EKG) (" ...
About this update from Cardiocomm Solutions, Inc.
[{"type":"text","content":"CardioComm Solutions Announces Intention to Settle Outstanding Debt with Issuance of SharesToronto, Ontario--(Newsfile Corp. - July 25, 2025) - CardioComm Solutions, Inc. (TSXV: EKG) (\"CardioComm\" or the \"Company\"), a global medical provider of consumer heart monitoring and medical electrocardiogram (\"ECG\") software solutions, announces that it has entered into debt settlement agreements with each of the directors of the Company, pursuant to which the Company will issue an aggregate of 4,162,500 common shares of the Company (\"Shares\") at a deemed price of $0.01 per Share to settle an aggregate of $41,625 in outstanding debt owed by the Company to the directors for services provided. When issued, the Shares will be subject to a four month hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The debt settlement transactions and the issuance of the Shares thereunder is subject to receipt of approval from the TSX Venture Exchange. The Company also announces that it has issued 250,000 stock options to Etienne Grima, the Company's CEO, in accordance with his employment agreement. The options are exercisable at $0.05 per share for five years from the date of grant and vest immediately. The grant is subject to the provisions of the Company's Stock Option Plan, the policies of the TSX Venture Exchange and applicable securities laws.Each debt settlement transaction with a director, and the issuance of stock options to the Company's CEO, is considered to be a \"related party transaction\" as defined under Multilateral Instrument 61-101 (\"MI 61-101\"). Each transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of each transaction does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.To learn more about CardioComm's products and for further updates please visit the Company's websites at www.cardiocommsolutions.com and www.theheartcheck.com. About CardioComm SolutionsCardioComm Solutions' patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North ...