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TORONTO, Sept. 24 /CNW/ - Biosign Technologies Inc. (CNSX: BIO) (the "Company" or "Biosign") announced today that it is finalizing a non-brokered private placement of up to 5,000,000 (five million) units at $0.20 per unit for gross proceeds of up to $1,000,000 (the "Offering").
Each Unit consists of one common share and one half common share purchase warrant, with each full warrant exercisable for a period of 24 (twenty four) months from closing, to acquire one common share at an exercise price of $0.40 per common share.
The common shares and warrants to be issued in connection with this Offering will be subject to a four month hold period from the share issuance date in accordance with the policies of the Canadian National Stock Exchange (CNSX Markets Inc.) and applicable securities laws.
Proceeds from the Offering are intended to be used as working capital to support commercialization of the Issuer's products, regulatory approvals, and for general corporate purposes.
To date, the company has received subscription agreements totaling $542,000 from accredited investors and insiders.
About Biosign Technologies Inc.
Biosign is provides Biomedical Systems. Key applications include intelligent systems for noninvasive monitoring of common health risks associated with blood pressure, glucose, medication. The core technology combines universal measurement, remote technology 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 http://www.biosign.com.
This press release contains forward looking statements. Forward looking statements are not based on historical facts, but rather on current expectations, Company assumptions and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Company assumptions and risk factors are listed from time to time in Biosign's reports, public disclosure documents including Management's Discussion and Analysis, Management Information Circular, and in other filings with stock exchanges and securities regulatory authorities in Canada.
You should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. While Biosign may elect to, Biosign is under no obligation and does not undertake to update this information at any particular time. This press release was prepared by management from information available to the date of this release.
The CNSX has neither approved nor disapproved the contents of this press release.
SOURCE Biosign Technologies Inc.
For further information: For further information: Radu Leca, President & CEO, Biosign Technologies Inc., Phone: (416) 218-9800 ext. 234, Email: firstname.lastname@example.org