CardioComm Solutions Announces Intention to Settle Outstanding Debt with Issuance of Shares

Core Points - CardioComm Solutions, Inc. has announced a debt settlement agreement with its directors, involving the issuance of 4,162,500 common shares at a deemed price of $0.01 per share to settle $41,625 in outstanding debt [1] - The company has also issued 250,000 stock options to its CEO, Etienne Grima, exercisable at $0.05 per share for five years, with immediate vesting [2] - The transactions are classified as "related party transactions" under Multilateral Instrument 61-101, and are exempt from formal valuation and minority shareholder approval requirements due to their fair market value being below 25% of the company's market capitalization [3] Company Overview - CardioComm Solutions specializes in consumer heart monitoring and medical electrocardiogram (ECG) software solutions, with patented technology for recording, viewing, analyzing, and storing electrocardiograms [5] - The company has achieved ISO 13485 and ISO 27001 certifications, is HIPAA compliant, and holds medical device clearances from the FDA in the USA and Health Canada [5]