Mr. Etienne Grima reports

CARDIOCOMM SOLUTIONS RESPONDS TO CYBER SECURITY INCIDENT

Cardiocomm Solutions Inc. is responding to a cybersecurity incident on the company's servers.

The company has launched a comprehensive investigation to fully ascertain the source and extent of any data breach and is working closely with KPMG-EGYDE, relevant authorities and third party cybersecurity experts to support these efforts in accordance with industry best practices.

Cardiocomm's business operations will be impacted for several days and potentially longer, depending how quickly the company is able to restore its data and re-establish its production server environments. There is no evidence that customers' health information was compromised as a result of this attack since Cardiocomm's software is designed to run on each client's own server environments. Further, Cardiocomm does not collect patient health information from its clients. The company has initiated identity theft precautions should any employee personal information have been compromised to minimize the impact on its staff.

The company has also provided an update respecting the cease trade order (CTO) issued by the Ontario Securities Commission and the suspension of trading imposed by the TSX Venture Exchange due to the late filing of the company's 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 (see the company's press releases dated May 1, 2023, and May 10, 2023, for further details). Although unexpectedly delayed by the security incident, the company continues to work with its auditor to finalize the required filings, which are anticipated to be filed prior to the end of the 90-day CTO term, following which the company will apply for reinstatement for trading on the TSX-V. The company will provide updates, as warranted.

About Cardiocomm Solutions Inc.

Cardiocomm Solutions' 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 Solutions has earned the ISO 13485 and ISO 27001 certifications, is HIPAA (Health Insurance Portability and Accountability Act) compliant, and holds medical device clearances and sales licences from the United States (Food and Drug Administration) and Canada (Health Canada).

We seek Safe Harbor.