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Share Name | Share Symbol | Market | Type |
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Agromep Sa | TSXV:AGP | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm" or the "Company") today announced that it has entered into an asset purchase with MD Primer Inc. ("MDP") under which CardioComm will purchase all rights to the GEMS(TM) 4.0 ECG management software solution, the Heartcheck(TM) ECG Monitor and the Heartcheck(TM) PEN Handheld Heart Rhythm Monitor in exchange for 15,677,065 common shares of CardioComm. The shares, which will be subject to a four month hold period, are being issued at a deemed price of $0.05 per share, for a total purchase price of $783,853.25. MDP is under the direction of Dr. Anatoly Langer, CardioComm's Chairman. As MDP is a related party of CardioComm, Dr. Langer abstained from voting on the transaction when the transaction received board approval. The issuance of the shares and the closing of the asset purchase are subject to the approval of the TSX Venture Exchange. MDP previously retained CardioComm to update the Global ECG Management Solution (GEMS(TM)) software to its newest Windows 7 compatible version, GEMS(TM) 4.0, under a previously announced software development agreement. Under the agreement, MDP and CardioComm were to share the benefits of the updated software. CardioComm is now purchasing all rights, title and interest in GEMS(TM) 4.0 so that it will have the exclusive right to commercially benefit from the software. Similarly, MDP previously co-funded development of the Heartcheck(TM) ECG Monitor and the Heartcheck(TM) PEN Handheld Heart Rhythm Monitor and their integration with GEMS(TM). CardioComm is now buying MDP's interest in these devices so that CardioComm is able to exclusively market and distribute them internationally. Readers are invited to visit the Company's website at www.cardiocommsolutions.com for further details respecting GEMS(TM), the Heartcheck(TM) ECG Monitor and the Heartcheck(TM) PEN Monitor. "We appreciate the support shown by MD Primer Inc. to bring the development of these new products into the pre-production stage. It is important for CardioComm Solutions to now consolidate our intellectual property rights and assume exclusive control over our assets in preparation for our next round of product releases in 2011 and 2012," said Etienne Grima, Cardiocomm's CEO. In addition, the Company announced that the lawsuit with Anglo German Progressive I Limited ("AGP") has been settled. Under the terms of the settlement, the Company will issue to AGP 1,000,000 common shares of CardioComm. The shares, which will be subject to a four month hold period, are being issued at a deemed price of $0.05 per share. The issuance of the shares is subject to the approval of the TSX Venture Exchange. "We are glad that both parties have now reached an agreement, one that includes the issuance of additional shares to AGP, an already a significant shareholder of the Company. We look forward to now resuming our product development plans for 2011 in our efforts to strengthen performance for all our shareholders, including AGP," Mr. Grima said. CardioComm also announced that it has granted an aggregate of 1,100,000 incentive stock options, with 1,000,000 options being issued to Etienne Grima, the Company's CEO, and 100,000 options being issued to Simi Grosman, an independent member of the Company's board of directors. 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. About CardioComm Solutions, Inc. CardioComm's patented and proprietary technology is used in the wireless and telephone based transmission, receipt and viewing, analyzing and storing of single and multichannel electrocardiograms (EKGs), for arrhythmia diagnosis and management of cardiac patients. The Company's products are sold worldwide through 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(TM)) and GlobalCardio(TM). CardioComm's software products are compatible with the majority of event loop recorders and ultraportable 12 lead devices. Its software solutions 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. Etienne Grima, CEO
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