VANCOUVER, BC / ACCESSWIRE / March 13, 2017 / CVR Medical Corp. CVR Medical Corp. (TSX.V:CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical“) is pleased to announce today that it has cancelled and will not utilize the acceleration provisions in regards to 11,024,612 warrants previously issued (the “Warrants”). If the average closing price of CVR Medical’s common shares closed at or above $0.60 for ten consecutive trading days, CVR Medical would have been able to accelerate the term for the expiration of the Warrants, thereby forcing the exercise of the Warrants. The Warrants were issued pursuant to a private placement which closed on September 15, 2016, and are exercisable at the price of $0.40. The Warrants are currently set to expire on September 15, 2018.
Peter Bakema, President and CEO comments, “We believe this is a prudent move to remove the perceived share price ceiling in the market. We have been receiving exercises and support from our shareholders and believe this will continue and see no need for the acceleration”.
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
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