CardioComm Solutions, Inc.

CardioComm Solutions, Inc.

February 27, 2009 09:00 ET

CardioComm Solutions, Inc. Announces Resignation From Board of Directors

VICTORIA, BRITISH COLUMBIA--(Marketwire - Feb. 27, 2009) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm" or the "Company") today announced that it has received the unsolicited resignation of Mr. Dirk Hagge, one of the Company's non-executive directors. The resignation is effective immediately.

In addition, the Company announced that it has settled an aggregate of $325,000 of outstanding debt of the Company in exchange for the issuance of common shares of the Company. The debt represents accrued management fees for 2008. Allocations of shares are as follows: Dr. Anatoly Langer, the Company's Chairman and interim CEO, will receive 2,464,010 shares representing $150,000 of debt; Etienne Grima, the Company's CFO and Secretary, will receive 1,642,673 shares representing $100,000 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 1,232,005 shares representing $75,000 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

  • CardioComm Solutions, Inc. - Investor Information
    Dr. Anatoly Langer
    1-800-725-6585 ext. 264