Mr. Peter Bakema reports

CVR MEDICAL SHAREHOLDERS APPROVE RESTRUCTURE

On Sept. 26, 2018, the board of directors for CVR Medical Corp. held a special meeting of the shareholders to approve, amongst many things, the restructuring of the agreement between CVR Medical and CVR Global Inc. CVR Medical is pleased to report that the shareholders approved the restructuring as well as all other matters voted. This restructured agreement calls for the companies to terminate and relinquish the previously agreed upon 50-per-cent/50-per-cent profit sharing structure in exchange for 30 million shares of CVR Medical stock and additional royalties associated with the commercialization and future sales of the Carotid Stenotic Scan (CSS). All of the current and future intellectual property pertaining to the CSS will now reside within CVR Medical. The agreement is subject to and will require TSX Venture Exchange approval, which CVR Medical leadership anticipates being forthcoming. With the approved transaction CVR Global will transition to a milestone driven equity-based contractor and upon achieving the milestones stated below, could allow them to become one of the company's largest shareholders which includes the following:

• Approval and signing of agreement (three million shares);
• Food and Drug Administration submission (two million shares);
• FDA clearance/approval (10 million shares);
• Achievement of $50-million in sales revenue from CSS device sales (15 million shares).*

* Contingent on a maximum 36-month time frame from initial CSS sale

Additionally, CVR Global would also be granted a 7-per-cent royalty on all CSS device sales, with a 3-per-cent royalty on all associated disposable sales.

"As with any undertaking, my goal in this restructure was to have all stakeholders benefit from this transaction and the future successes it will facilitate," states CVR Medical chief executive officer/president, Peter Bakema. "This deal was always going to be much easier in theory than in implementation, hence the prolonged timeline. This restructure will allow for the distribution of both risk and reward, while the future economics surely inure to the benefit of the CVR Medical shareholders. There is a significant buy-in by all parties involved, a statement that is only validated by the recent equity investments made by CVR Medical board members. This will not only free us up operationally, but it also cleans up a corporate structure which lacked clarity. Roles are now clearly defined, as is the pathway to our ultimate goal of the CSS market launch."

About CVR Medical Corp.

CVR Medical is a health care company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary CSS device. CVR is currently in pivotal clinical trials in preparation for its planned submission to the U.S. Food and Drug Administration.

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