VICTORIA, BRITISH COLUMBIA--(Marketwire - May 4, 2010) - CardioComm Solutions, Inc. (TSX VENTURE:EKG) ("CardioComm" or the "Company") announced that the board of directors of the Company has appointed Mr. Etienne Grima as Chief Executive Officer of the Company and Ms. Wendy Hsieh as Chief Financial Officer of the Company, effective immediately. Dr. Anatoly Langer, who was acting as the Company's interim CEO, has resigned although he will continue to be Chairman of the board. Mr. Grima resigned from his position as Chief Financial Officer so that he could assume the role of the Company's Chief Executive Officer. Ms. Hsieh agreed to act as Chief Financial Officer in place of Mr. Grima.
Dr. Langer believes "these two appointments represent the next logical steps in the evolution of the company towards the execution of its business strategy. Mr. Grima has been involved in several key product developments which are scheduled for release during this current fiscal year."
The Company also announced that it has settled an aggregate of $25,000 of outstanding debt owed to Mr. Grima in exchange for the issuance of common shares. The debt represents management fees accrued in 2007. Under the debt settlement, Mr. Grima will receive 416,666 shares, at a deemed price of $0.06 per share. This debt settlement is subject to the approval of the TSX Venture Exchange.
About CardioComm Solutions, Inc.
CardioComm's patented and proprietary technology is used in products for the recording, viewing, analyzing and storing of electrocardiograms (EKGs), for diagnosis and management of cardiac patients. The Company's products are sold worldwide through a combination of 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™) and GlobalCardio™. CardioComm's software products 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.
Anatoly Langer, Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.