VANCOUVER, BC / April 10, 2018 / CVR Medical Corp. CVR Medical Corp. (TSX.V:CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical”) today announced that the temporary warrant exercise price amendment expired at the close of business on April 6, 2018 (the “Amendment”). An aggregate of 2,518,600 warrants originally issued in the February and April, 2017 private placements (the “2017 Warrants”) were exercised for gross proceeds of $1,007,440. CVR Medical also issued a total of 2,518,600 new warrants (the “New Warrants”) to those holders that exercised their 2017 Warrants. The New Warrants have an exercise price of $1.50 and will expire on April 9, 2020. In the Amendment closing, CVR Medical paid finders’ fees of 5% cash (the “Compensation”) comprised of an aggregate cash commission of $22,811.14. The New Warrants and any common shares issued upon the exercise of the New Warrants are subject to a hold period expiring on August 10, 2018. The Amendment remains subject to final acceptance of the TSX Venture Exchange.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the “Joint Venture”). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
For further information contact:
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888