The options have a 30-cent exercise price, well above the last traded price of 19 cents and expire 1 May 2020.
For these options to have value, the share price must be above 30 cents before this date.
Earlier this week, G Medical released its prospectus detailing a dual-listing on the NASDAQ Capital Market.
The company proposes to raise a minimum of US$17 million through the offer of American Depositary Shares (ADS).
The executives of the company will commence a US investor roadshow on 3 June 2019, after the mandatory exposure period concludes.