CardioComm Solutions Inc. Announces Corporate Reorganization
Victoria, B.C., November 15, 2007 – CardioComm Solutions Inc. (TSX-V: CCG) (“CardioComm” or the “Company”) is pleased to report that over 90% of the votes cast at the Special General Meeting of shareholders of the Company held today were voted in favour of the business tabled at the Meeting, which business included:
- A special resolution authorizing the Company to consolidate the outstanding common shares of the Company on a one-for-five basis and to change the Company's name to “CardioComm Solutions, Inc.” The consolidation is subject to the approval of the TSX Venture Exchange. Upon receipt of Exchange approval, all outstanding warrants and stock options will be recalculated to reflect the consolidation. The Company will announce when trading is ready to begin on a post-consolidation basis under the Company's new stock symbol, ‘EKG';
- A special resolution to increase the authorized share capital of the Company to an unlimited number of common shares without par value;
- An ordinary resolution to authorize the Company to issue units for gross proceeds of $1,400,000;
- An ordinary resolution to approve the Company entering into a Software Development Agreement with MD Primer Inc.; and
- An ordinary resolution to replace the Company's current Amended Stock Option Plan with the Company's 2007 Omnibus Share Compensation Plan.
These arrangements were described in greater detail in the Company's press release dated October 17, 2007 . The TSX Venture Exchange must grant final approval of these elements before they may be effected by the Company.
Brad Harlow , Chairman of the Board said “we are very pleased our shareholders have supported this restructuring. This gives the Company the opportunity to move forward with our plans to launch our new GlobalCardio 12 Lead system.”
About CardioComm Solutions Inc.
CardioComm's patented and proprietary technology is used in products for the recording, viewing, analyzing and storing of electrocardiograms (ECGs), 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 ECG viewer. CardioComm is the first company to provide a real-time means of viewing ECGs over a network (LAN, WAN or Internet). This tool enables ECGs to be viewed and controlled live, by physicians, over a global virtual healthcare network. This technology is marketed as Global ECG 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.
“ Brad Harlow ”
Brad Harlow , Chairman of the Board
For investor information, please contact :
Stephen Martin
1-877-744-1122
