Mr. Etienne Grima reports

CARDIOCOMM SOLUTIONS ANNOUNCES LATE FILING OF ANNUAL FINANCIAL STATEMENTS

Cardiocomm Solutions Inc. will not file its annual financial statements for the financial year ended Dec. 31, 2022, and its management's discussion and analysis relating to the financial statements before the prescribed deadline of May 1, 2023.

The reason for the default is that the company requires additional time for completion of the external independent audit of its financial records. The delay is a consequence of the company's migration to a new financial accounting system in late 2022. As of the end of April, the company confirms the audit was under way, and the required filings are anticipated to be filed by May 30, 2023, or sooner. The company will provide updates as warranted.

The company applied to the Ontario Securities Commission under National Policy 12-203 (Management Cease Trade Orders) for the issuance of a management cease trade order. Following its review, the OSC advised that it would not issue an MCTO and that it would instead issue a failure-to-file cease trade order.

About Cardiocomm Solutions Inc.

Cardiocomm's patented and proprietary technology is used in products for recording, viewing, analyzing and storing electrocardiograms for diagnosis and management of cardiac patients. Products are sold worldwide through a combination of an external distribution network and a North American-based sales team. Cardiocomm has earned the ISO 13485 certification, is HIPAA (Health Insurance Portability and Accountability Act) compliant, and holds clearances from the European Union (CE Mark), the United States (Food and Drug Administration) and Canada (Health Canada).

We seek Safe Harbor.