TORONTO, Nov. 6 /CNW/ - Biosign Technologies Inc. ("Biosign") (TSXV: BIO) has completed a non-brokered private placement of units ("Units") of the Company for $1.25 per unit for gross proceeds of $2,300,000.
The private placement consisted of One Million Eight Hundred Forty Thousand (1,840,000) Units priced at $1.25 per Unit for gross proceeds of Two Million Three Hundred Thousand dollars ($2,300,000) with each Unit consisting of one common share and one half (1/2) common share purchase warrant, with each full warrant exercisable for a period of Twenty-Four (24) months from the closing date, to acquire one common share at an exercise price of $2.25 per common share.
Proceeds from the private placement are intended to be used as working capital to support commercialization of Biosign's products and general corporate purposes.
The common shares and warrants to be issued in connection with this private placement will be subject to a four month hold period from the closing date in accordance with the policies of the TSX Venture Exchange and applicable Securities Law. The private placement is subject to TSX Venture Exchange approval.
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides biomedical systems. Key applications include intelligent systems for noninvasive monitoring of common health risks associated with blood pressure, glucose, and medication. The core technology combines measurement, analysis, and rapid knowledge formation to support health monitoring across global markets. The UFIT(R) medical device technology powers quality data collection and analytics for clinical diagnostics, self-care, wellness, disease state evaluation & management, and remote patient monitoring. For more information on Biosign, please visit www.biosign.com.
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking statements, without limitation, may contain the words believes, expects, anticipates, estimates, intends, plans, or similar expressions. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties and assumptions and Biosign's actual results could differ materially from those anticipated. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. In the context of any forward-looking information please refer to risk factors detailed in, as well as other information contained in, Biosign's filings with Canadian securities regulators (www.sedar.com).
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
%SEDAR: 00014068E
For further information: Alan S. Roemer, SVP, The Trout Group LLC, Phone: 646 378-2900, Email: [email protected]; Radu Leca, President & CEO, Biosign Technologies Inc., Phone: (416) 218-9800 ext. 234, Email: [email protected]
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