CardioComm Solutions Closes Shares for Debt Transactions
CardioComm Solutions (TSXV: EKG), a provider of consumer heart monitoring and ECG software solutions, has completed its previously announced shares for debt transactions with four company directors. The company issued a total of 4,162,500 common shares at $0.01 per share to settle $41,625 in outstanding debt owed to directors for services provided in 2024 and early 2025.
The shares will be subject to a four-month hold period until December 1, 2025. The transactions qualify as "related party transactions" under MI 61-101 but are exempt from formal valuation and minority shareholder approval requirements as they fall below 25% of the company's market capitalization.
CardioComm Solutions (TSXV: EKG), fornitore di soluzioni software per il monitoraggio cardiaco e l'ECG rivolte ai consumatori, ha completato le operazioni di conversione azioni per debito precedentemente annunciate con quattro membri del consiglio di amministrazione. La societ脿 ha emesso un totale di 4.162.500 azioni ordinarie al prezzo di 0,01$ per azione per saldare un debito residuo di 41.625$ dovuto ai direttori per servizi forniti nel 2024 e all'inizio del 2025.
Le azioni saranno soggette a un periodo di blocco di quattro mesi fino al 1 dicembre 2025. Le operazioni sono considerate "transazioni con parti correlate" ai sensi del MI 61-101, ma sono esenti dai requisiti di valutazione formale e dall'approvazione da parte degli azionisti di minoranza, poich茅 rappresentano meno del 25% della capitalizzazione di mercato della societ脿.
CardioComm Solutions (TSXV: EKG), proveedor de soluciones de software para monitoreo card铆aco y ECG para consumidores, ha completado las transacciones de acciones por deuda previamente anunciadas con cuatro directores de la empresa. La compa帽铆a emiti贸 un total de 4,162,500 acciones ordinarias a $0.01 por acci贸n para saldar una deuda pendiente de $41,625 adeudada a los directores por servicios prestados en 2024 y principios de 2025.
Las acciones estar谩n sujetas a un per铆odo de retenci贸n de cuatro meses hasta el 1 de diciembre de 2025. Las transacciones califican como "transacciones con partes relacionadas" seg煤n MI 61-101, pero est谩n exentas de los requisitos formales de valoraci贸n y aprobaci贸n por parte de accionistas minoritarios, ya que representan menos del 25% de la capitalizaci贸n de mercado de la empresa.
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CardioComm Solutions (TSXV : EKG), fournisseur de solutions logicielles pour la surveillance cardiaque et l'ECG destin茅es aux consommateurs, a finalis茅 ses op茅rations d'茅change d'actions contre dettes pr茅c茅demment annonc茅es avec quatre administrateurs de la soci茅t茅. La soci茅t茅 a 茅mis un total de 4 162 500 actions ordinaires au prix de 0,01 $ par action pour r茅gler une dette en souffrance de 41 625 $ due aux administrateurs pour des services rendus en 2024 et d茅but 2025.
Les actions seront soumises 脿 une p茅riode de blocage de quatre mois jusqu'au 1er d茅cembre 2025. Ces transactions sont consid茅r茅es comme des "transactions avec des parties li茅es" selon la MI 61-101, mais sont exempt茅es des exigences d'茅valuation formelle et d'approbation des actionnaires minoritaires car elles repr茅sentent moins de 25 % de la capitalisation boursi猫re de la soci茅t茅.
CardioComm Solutions (TSXV: EKG), ein Anbieter von Herz眉berwachungs- und EKG-Softwarel枚sungen f眉r Verbraucher, hat die zuvor angek眉ndigten Aktientauschgesch盲fte zur Schuldenbegleichung mit vier Direktoren des Unternehmens abgeschlossen. Das Unternehmen hat insgesamt 4.162.500 Stammaktien zu 0,01 $ pro Aktie ausgegeben, um offene Schulden in H枚he von 41.625 $ zu begleichen, die den Direktoren f眉r im Jahr 2024 und Anfang 2025 erbrachte Dienstleistungen geschuldet wurden.
Die Aktien unterliegen einer viermonatigen Haltefrist bis zum 1. Dezember 2025. Die Transaktionen gelten gem盲脽 MI 61-101 als "Gesch盲fte mit nahestehenden Parteien", sind jedoch von den Anforderungen einer formellen Bewertung und der Zustimmung der Minderheitsaktion盲re ausgenommen, da sie unter 25 % der Marktkapitalisierung des Unternehmens liegen.
- None.
- Company issued shares to settle $41,625 in debt owed to directors, indicating potential cash flow constraints
- Share issuance at $0.01 per share suggests low valuation and potential dilution for existing shareholders
Toronto, Ontario--(Newsfile Corp. - August 1, 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 closed its previously announced shares for debt transactions with each of the four directors of the Company (see the Company's news release dated July 25, 2025). Pursuant to debt settlement agreements dated as of July 24, 2025 between the Company and each director, the Company has issued an aggregate of 4,162,500 common shares of the Company ("Shares") at a deemed price of
The Shares are be subject to a four month hold period expiring December 1, 2025, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Each debt settlement transaction with a director 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
To learn more about CardioComm's products and for further updates please visit the Company's websites at and .
About CardioComm Solutions
CardioComm 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 American-based sales team. CardioComm Solutions has earned the ISO 13485 and ISO 27001 certifications, is HIPAA compliant and holds medical device clearances and sales licenses from the USA (FDA) and Canada (Health Canada).
FOR FURTHER INFORMATION PLEASE CONTACT:
Etienne Grima, Chief Executive Officer
1-877-977-9425 x227
[email protected]
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 not place undue reliance on forward-looking statements and forward-looking information. The Company does not assume any obligation to update the forward-looking statements and forward-looking information contained in this release 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.
To view the source version of this press release, please visit
FAQ
How many shares did CardioComm Solutions (TSXV: EKG) issue in the debt settlement?
Who received shares in CardioComm's debt settlement transaction?
When will the hold period for CardioComm's newly issued shares expire?
Why did CardioComm Solutions issue shares to its directors?
