Deal funds commercial launch of hand-held heart rhythm, ECG monitors
By Devika Patel
Knoxville, Tenn., March 22 - CardioComm Solutions, Inc. said it completed a C$1.55 million non-brokered private placement of units on Wednesday. The deal priced for C$2 million on Feb. 3.
The company sold 3.1 million units of one flow-through common share and one warrant at C$0.50 per unit.
Each two-year warrant will be exercisable at C$0.75, a 111.27% premium to the Feb. 2 closing share price of C$0.355.
Proceeds will be used to launch the HeartCheck brand of hand-held heart rhythm and ECG monitors.
Victoria, B.C.-based CardioComm develops advanced cardiology software.
| Issuer: | CardioComm Solutions, Inc.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$1.55 million
|
| Units: | 3.1 million
|
| Price: | C$0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | Feb. 3
|
| Settlement date: | March 21
|
| Stock symbol: | TSX Venture: EKG
|
| Stock price: | C$0.355 at close Feb. 2
|
| Market capitalization: | C$54.31 million
|
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