Vancouver, British Columbia--(Newsfile Corp. - September 20, 2017) - CVR Medical Corp. (TSXV: CVM) (FSE:B3BN) (OTCQB: CRRVF) ("CVR Medical") enters discussions with Key Opinion Leaders in the Chinese cardiovascular health industry, with whom the organization intends to extend membership on the executive board to. The medical and business influence of these leaders will spur the growth of international opportunities for CVR and its "Carotid Stenotic Scan (CSS)" device.
In addition, CVR announces the recent start of negotiations with several prominent Chinese distribution groups. This comes after a successful meeting with the leadership of the Chinese healthcare industry. CVR expects an official letter of intent for distribution in the country to be signed imminently.
"We are very excited to share news of CVR's expanding global footprint," states CVR CEO Peter Bakema. "This sets the trajectory of our company for release into the Chinese market in H2 2018, subsequently following our domestic launch. The individuals we are meeting with for executive involvement will hopefully provide valuable insight and access to networks that we anticipate will allow the CSS to reach significant revenue channels in Asia in the event that we enter into definitive distribution agreements for the CSS device. Beyond this, the distribution groups we are in negotiations with have the type of reach and reputation that we will be able to leverage to protect CVR's IP."
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
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.
ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-511
Email: info@cvrmed.com
or
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
