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CardioComm Terminates Royalty Agreement and Enters into $512,000 Insider Loan Facility to Advance Gems Flex and 14-Day Holter/LTCM Platform
Toronto, Ontario--(Newsfile Corp. - November 4, 2025) - CardioComm Solutions, Inc. (TSXV: EKG) ...
About this update from Cardiocomm Solutions, Inc.
[{"type":"text","content":"CardioComm Terminates Royalty Agreement and Enters into $512,000 Insider Loan Facility to Advance Gems Flex and 14-Day Holter/LTCM PlatformToronto, Ontario--(Newsfile Corp. - November 4, 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 terminated a royalty agreement announced October 1, 2025 (the \"Royalty Agreement) and entered into a loan agreement dated November 3, 2025 (the \"Loan Agreement\") with current debt lenders to the Company (the \"Lenders\") for aggregate funding of $512,000. A copy of the Loan Agreement has been filed by the Company on SEDAR+. Use of ProceedsThe Loan Agreement provides new working capital to complete and commercialize the Company's GEMS FLEX and 14-day Holter and Event long term continuous monitoring (\"LTCM\") ECG software platform (the \"Flagship Product\"). The Flagship Product is expected to become CardioComm's principal offering and major source of revenue, providing healthcare professionals and patients with new and advanced remote monitoring and ECG analysis capabilities. This financing transaction will enable the Company to:Finalize the Flagship Product for a full market-ready release;Conduct structured user feedback reviews to refine usability and performance;Launch and market the Flagship Product to targeted healthcare markets; andProvide post-launch customer support and installation services.Corrective DisclosureThe Royalty Agreement was terminated due to additional TSX Venture Exchange review requirements that were expected to push final approval and access to capital into late Q4.At the request of Ontario Securities Commission staff in connection with a staff review, the Company has filed a copy of the terminated Royalty Agreement on SEDAR+ in accordance with Section 12.2 of National Instrument 51-102 - Continuous Disclosure Obligations.The Company is issuing this news release in accordance with OSC Staff Notice 51-711 (Revised) - Refilling's and Corrections of Errors (\"SN 51-711\") and will be placed on the public list of Refiling and Errors in accordance with SN 51-711.The Loan AgreementKey terms of the Loan Agreement are as follows:Principal - $512,000. Lenders - $350,000 in funds from Xemxija Holdings Inc. (\"X...