Recom Secures $5 Million in Private Placement

Recom Managed Systems announced the completion of private placement financing of $5 million with an institutional investor at $3.20 per share, with no commissions or other fees payable. Recom also issued warrants to purchase an additional 1,500,000 common shares at $1.60 per share. The financing will be used in large part to support commercialization of Recom's Model 100 Heart Monitor 12-lead electrocardiograph technology, which utilizes a patented signal-processing platform to allow for the production and recording of a clinical-quality ECG while the patient is ambulatory.

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