CardioComm Solutions, Inc.
TSX VENTURE : EKG

CardioComm Solutions, Inc.

May 05, 2009 16:00 ET

CardioComm Solutions, Inc. Announces Grant of Stock Options

VICTORIA, BRITISH COLUMBIA--(Marketwire - May 5, 2009) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm" or the "Company") today announced that it has granted an aggregate of 900,000 incentive stock options to two of its directors pursuant to its Omnibus Share Compensation Plan. The options are exercisable at $0.10 per share for five years from the date of grant, will vest equally over a period of 18 months and are subject to a four month hold period. The grant of options will be subject to the provisions of the Company's Omnibus Share Compensation Plan, the policies of the TSX Venture Exchange and applicable securities laws.

In addition, the Company announced that it has settled an aggregate of $81,250 of outstanding debt of the Company in exchange for the issuance of common shares. The debt represents accrued management fees for the first quarter of 2009. Allocations of shares are as follows: Dr. Anatoly Langer, the Company's Chairman and interim CEO, will receive 1,250,000 shares representing $37,500 of debt; Etienne Grima, the Company's CFO and Secretary, will receive 833,333 shares representing $25,000 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 625,000 shares representing $18,750 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™) and GlobalCardio™. 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.

Dr. Anatoly Langer, Chairman

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information