TORONTO, ONTARIO – CardioComm Solutions, Inc. (TSX VENTURE: EKG) (“CardioComm” or the “Company”), a leading global medical provider of consumer heart monitoring and electrocardiogram (“ECG”) acquisition and management software solutions, confirms that it has repaid $100,000 in outstanding loans and that the remaining $500,000 in loans, which would have otherwise matured on March 31, 2019, have been extended by the lenders.
The maturing loans were made by four lenders to the Company in December 2016, as described in the Company’s press release dated December 21, 2016, and were extended in December 2018, as described in the Company’s press release dated December 27, 2018. Three of the lenders have extended an aggregate of $400,000 in loans until December 31, 2020, while the fourth lender has extended the remaining $100,000 until December 31, 2019. The Company has the right to repay any loan amounts outstanding at any time, whole or in installments, without penalty. In additon, each lender may elect to convert its loan into common shares of the Company at a price per share equal to the “discounted market price” under the policies of the TSX Venture Exchange. Any conversion of debt into shares will be subject to applicable securities laws and approval of the TSX Venture Exchange.
To learn more about CardioComm’s products and for further updates regarding HeartCheck™ ECG device integrations please visit the Company’s websites at
www.cardiocommsolutions.com and www.theheartcheck.com.
