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CardioComm Solutions Lenders Take Shares To Settle Debt
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CardioComm Solutions, Inc: CardioComm Solutions Lenders Take Shares To Settle Debt
TORONTO, ON / ACCESSWIRE / December 29, 2020 / CardioComm Solutions, Inc. (TSXV:EKG) (
CardioComm or the
Company ), a global medical provider of consumer heart monitoring and medical electrocardiogram (
ECG ) software solutions, announced that at the request of two of four lenders, CardioComm will be issuing common shares of the Company (each, a
Share ) to settle $250,000 worth of debt. Pursuant to debt settlement agreements with the two converting lenders, the Company will issue an aggregate of 5,000,000 Shares at a deemed price of $0.05 per Share to settle an aggregate of $250,000 of a total of $500,000 in debt owed by the Company to its secured lenders. The issuance of the Shares is subject to approval from the TSX Venture Exchange, and the Shares will be subject to a four month hold period in accordance with applicable securities laws.