VANCOUVER, BC / July 25, 2018 / CVR Medical Corp.
CVR Medical Corp. (CVM.V) (TSXV: CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) had entered into a letter agreement with Crystal Research Associates (“Crystal”) dated September 25, 2017 (the “Letter Agreement”) to compile an executive informational overview and quarterly updates on CVR Medical. Pursuant to the Letter Agreement, CVR Medical has agreed to issue 50,000 common shares of CVR Medical and grant a three-year option to purchase 150,000 common shares of CVR Medical at a deemed price of $0.35 per share to Crystal as payment for services for CVR Medical.
The issuance of common shares in payment for the services is subject to the prior approval of the TSX Venture Exchange. All common shares issued in connection with this payment will be subject to a four month hold period under applicable Canadian securities laws.
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 involved and operates in the medical industry that focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology (CSS) 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:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888
Marc S. Lubow.
Vice President Capital Markets, Investor Relations
Telephone: (904) 923 – 4037
This press release contains forward-looking statements or information (collectively referred to herein as “forward-looking statements”) that involves various risks and uncertainties regarding future events related to the Joint Venture and the Transaction. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this press release such statements include but are not limited to the completion of the Transaction and the associated regulatory and shareholder approval requirements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.