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CardioGenics Holdings Inc. Engages Gilford Securities As Investment Banker
Date:10/2/2009

MISSISSAUGA, Ontario, Oct. 2 /PRNewswire-FirstCall/ -- CardioGenics Holdings Inc. (OTC Bulletin Board: JAGH) has entered into an agreement with Gilford Securities Incorporated ("Gilford"), pursuant to which Gilford will provide investment banking services to the Company through its new Healthcare Banking Group. Kenneth Sorensen, PhD, Nickolay Kukekov, PhD, and Ted Kalem of Gilford's Healthcare Banking Group will be spearheading the investment banking efforts. Drs. Sorensen, Kukekov, and Mr. Kalem have a broad array of experience specializing in the healthcare banking field, including successfully representing clients in connection with initial and secondary public offerings, equity and debt transactions, and partnering and M&A transactions ranging from $5 million to $345 million.

"We are very pleased to have Gilford Securities as our investment banker," said Yahia Gawad, Chief Executive Officer of CardioGenics. "Gilford has an excellent reputation for providing investment banking solutions for growth companies and, with the addition of its new Healthcare Banking Group, they are well situated to provide the specialized investment banking services that our Company requires."

Continued Dr. Gawad, "In retaining an investment banking firm, we felt it was very important that they understand the specialized needs of an in-vitro diagnostic company such as ours and, with its impressive backgrounds in the healthcare field, we feel that Gilford's Healthcare Banking Group is perfect for addressing those needs."

"We are delighted to be working with the CardioGenics team," said Robert Maley, President of Gilford Securities.

A Current Report on Form 8-K containing further details regarding the Gilford agreement will be filed by the Company and will be available on EDGAR.

About CardioGenics Holdings Inc.

Through its CardioGenics subsidiaries, the Company develops technology and products targeti
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SOURCE CardioGenics Holdings Inc.
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