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CVR Medical Corp
Symbol CVM
Shares Issued 64,938,033
Close 2018-01-11 C$ 0.395
Market Cap C$ 25,650,523
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CVR Medical signs MOU with South Korea

2018-01-11 10:15 ET - News Release

Mr. Peter Bakema reports

CVR MEDICAL EYES EXPANSION, GLOBAL POTENTIAL IN SOUTH KOREA

CVR Medical Corp. has signed an official memorandum of understanding with the Seoul Metropolitan government (SMG) of the Republic of South Korea. The understanding states the mutual interest and intended collaboration on new business opportunities as part of CVR's global market expansion and the South Korean government's initiative to revitalize its biomedical device industry.

The memorandum, signed at the turn of 2018, signals growing confidence and anticipation for CVR's launch of the "Carotid Stenotic Scan (CSS)" device -- a non-invasive, non-emitting detector of carotid artery stenosis. Through its partnership with the SMG, CVR will be positioned to take advantage of a vast, growing Asian-Pacific market while leveraging Seoul's financial, administrative, and research-and-development capacities.

As a company with patents on novel technologies and an approaching shift into sales and marketing on the global stage, CVR brings to Seoul a wealth of opportunity to share in this process and its subsequent adaptations with South Korean bioventure firms, hospitals and universities.

"This announcement is a true look into the future of our company and how it can impact lives on a global scale," says CVR chief executive officer, Peter Bakema. "We believe that working with the Seoul Metropolitan government will not only bear fruit in a market expansion and industry revitalization sense, but will gain both parties access to the kind of diverse, cutting-edge resources and information that will allow us to compete with the world's foremost companies in the biotech and medical device sectors. We're extremely proud and look forward to all the possible developments to come from this partnership."

About CVR Medical Corp.

CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. 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.

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