Toronto, ON / ACCESSWIRE / January 20, 2015 / CardioComm Solutions, Inc. (TSXV:EKG)(OTC:EKGGF)(OUGA.SG)("CardioComm Solutions" or the "Company") today announced that it has entered into a sales and marketing agreement for growing and managing the Company's HeartCheck(TM) ECG related business in drug chains, mass retailers, club retailers, grocery retailers and distributors' head offices in the USA.
Under the five year agreement, CardioComm Solutions will issue 375,000 common shares to the consulting group ("Consultant") for $18,750 of services provided by Consultant between October 1, 2014 and December 31, 2014, and will issue an additional $15,000 of common shares of the Company for services to be provided from January 1, 2015 to March 31, 2015at a price per share equal to the greater of $0.05 or the closing price of the shares on the TSX Venture Exchange on March 31, 2015, whichever is greater. Any issuances of common shares of the Company are subject to the approval of the TSX Venture Exchange and applicable securities laws. After March 31, 2015, the Consultant will be provided commission based fees generated from the sales of HeartCheck(TM) ECG devices and recurrent SMART Monitoring ECG services use.
The USA retail pharmacy agreement was executed following the completion of pre-set Canadian retail pharmacy milestones.
For more about the Company's HeartCheck(TM) products and services and retail pharmacy sales can be seen at www.theheartcheck.com.
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
[email protected]
www.cardiocommsolutions.com
Forward-looking statements
This release may contain certain forward-looking statements 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. By their nature, forward-looking statements 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.
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.
SOURCE: CardioComm Solutions, Inc.