VANCOUVER, BC / March 16, 2018 / CVR Medical Corp. CVR Medical Corp. (TSX.V:CVM) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical”) today announced that it will temporarily reduce the exercise price of its outstanding 2017 warrants originally issued in February and April 2017 (the “2017 Warrants”) from CAD $0.70 (the “Original Exercise Price”) to CAD $0.40 (the “Amended Exercise Price”) for the period commencing on March 16, 2018 and ending at the close of business on April 6, 2018 (the “Designated Exercise Period”).
Holders who exercise any or all of their 2017 Warrants during the Designated Exercise Period will receive one additional newly issued warrant (each, a “New Warrant”) for each 2017 Warrant exercised. The New Warrants will be exercisable at a price of $1.50 for a period of 24 months from their issuance.
Upon expiry of the Designated Exercise Period, the exercise price of any unexercised 2017 Warrants will revert to the Original Exercise Price for the remainder of the 2017 Warrants’ term.
A Notice of Warrant Exercise Price Amendment containing further information and instructions is being mailed to holders of record of the 2017 Warrants as of March 16, 2018.
The New Warrants and any common shares issued upon the exercise of the New Warrants will be subject to hold period expiring four months after the date of issuance of the New Warrants.
CVR Medical’s CEO Peter Bakema will host a conference call on Monday, March 19, 2018 at 1:00 p.m. EST (10:00 a.m. PST) to provide an operational update and discuss the warrant exchange. Please call the following numbers to join the conference call:
• 1-647-722-6839 (Canada) or
• 1-303-248-0285 (United States)
• Access Code 66177711
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