CardioComm Receives TSX Venture Exchange Approval for Announced Loan Facility

Core Insights - CardioComm Solutions, Inc. has received approval from the TSX Venture Exchange for a loan agreement totaling $512,000 to advance its GEMS Flex and 14-day Holter/LTCM ECG platform [1][2] Funding and Product Development - The loan will provide working capital to complete and commercialize the GEMS FLEX and 14-day Holter and Event long-term continuous monitoring ECG software platform, which is expected to be the company's principal offering and major revenue source [2][4] - The financing will enable the company to finalize the flagship product for market release, conduct user feedback reviews, launch the product in targeted healthcare markets, and provide post-launch support [4] Related Party Transactions - The loan agreement involves related party transactions as the lenders are insiders of the company, specifically Xemxija Holdings Inc. and ITF Ventures Inc., both controlled by Daniel Grima [3][5] - The transactions are exempt from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 due to the terms being reasonable and not less advantageous than those from arm's length transactions [3][5] Company Overview - CardioComm Solutions specializes in consumer heart monitoring and ECG software solutions, with patented technology for recording, analyzing, and storing electrocardiograms [7] - The company holds ISO 13485 and ISO 27001 certifications, is HIPAA compliant, and has medical device clearances from the FDA and Health Canada [7]