TORONTO, ONTARIO--(Marketwire - July 20, 2012) - CardioComm Solutions, Inc. ("CardioComm Solutions" or the "Company") (TSX VENTURE:EKG) today announced that an aggregate of 1,450,000 incentive stock options have been granted to management and directors of the Company. The options are exercisable at $0.60 per share for five years from the date of grant, vest equally over 18 months at the end of each three month period from the date of grant and are subject to a four month hold period. The grant of options is subject to the provisions of the Company's Omnibus Share Compensation Plan, the policies of the TSX Venture Exchange and applicable securities laws.
"We are issuing these options to management and directors in recognition of their contributions towards the recent achievements of the Company and to incentivize them to continue to create shareholder value going forward," said Etienne Grima, CEO of the Company. "Our board members will be particularly active in new fundraising, clinical research and sales and marketing efforts with the aim of assisting management in realizing profitability in the HeartCheck™ and Smart Monitoring business unit of the Company."
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 and HeartCheck™ devices. CardioComm Solutions, Inc. is headquartered in Toronto, Canada, with offices in Victoria, B.C.
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.