Biosign Technologies Inc. receives TSX Venture Exchange listing approval
TORONTO, Sept. 9 /CNW/ - Biosign Technologies Inc. ("Biosign" or the "Company") (CNSX: BIO) is pleased to announce that its common shares will commence trading on the TSX Venture Exchange (the "Exchange") on September 10, 2010 under the trading symbol "BIO".
As part of the company's listing requirements, an aggregate of 20,294,424 common shares, 38,462 warrants and 875,000 stock options of the Company controlled by Principals, as such term is defined in the Exchange's Corporate Finance Manual, will be subject to the value security escrow requirements of the Exchange, applicable to a Tier 2 issuer, and will be released from escrow as follows: 10% of the escrowed shares at the time of listing and 15% of the escrowed shares every six months thereafter.
As of the date hereof, 76,368,090 common shares of the Company are issued and outstanding.
Biosign provides biomedical systems and is an ISO certified Medical Device Company. Biosign's flagship product, UFIT(R), is a non-invasive single device capable of multiple measurements (blood pressure, blood glucose, pulse rate, pulse rate variability, and others) - an online, virtual e-lab. The concept of enabling computers to become physiological terminals is at the core of the Biosign UFIT(R) platform. The UFIT(R) platform separates the collection of data from the analysis of the data. This allows us to provide, in a cost effective and accurate manner, a simple device on the collection side while maintaining a sophisticated and comprehensive analysis capability on the "back end". The separation of these two components of the system brings to life virtual instrumentation in the medical device field. The UFIT(R) platform is designed to meet the requirements of a global healthcare system that uses the internet to interact and distribute services automatically to consumers, clinicians, and regulators regardless of location and environment.
Biosign has received the following clearances for their products:
- Blood Glucose: ISO 9001:2008, ISO 13485-2003, and Directive 93/42/EEC ("CE Mark") for automated wrist blood pressure and blood glucose monitors with computer controls since February 2010; - Blood Pressure: ISO 9001:2008, ISO 13485-2003, Directive 93/42/EEC ("CE Mark"), and Health Canada License for automated wrist blood pressure monitors with computer controls since 2006.
Biosign has entered into Master Distribution Agreements for Canada, Germany, France, Switzerland, Austria and the Middle East North Africa (MENA) regions over the last 4 months and is currently focusing its efforts on preparing for large scale deployment of its technology to ensure successful launch of its products in various jurisdictions globally.
Additional information about the company can be found at the company website (www.biosign.com) or in its fillings on SEDAR (www.sedar.com).
About Biosign Technologies Inc.
Biosign Technologies Inc. (CNSX: 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.
"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."
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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