TORONTO, April 8 /CNW/ - Biosign Technologies Inc. (CNSX: BIO) (the "Company" or "Biosign") today announced that it has revised the terms of the private placement financing announced on March 2, 2010. The Company intends to raise gross proceeds of up to approximately CDN$2,000,000 through a brokered private placement of units ("Units") at a price of CDN$0.65 per Unit. Each Unit is comprised of one common share of Biosign and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of Biosign at a price of CDN$0.95 for a period of 24 months from closing date subject to an acceleration of the expiry date in certain circumstances.
The Company has retained Dundee Capital Markets as lead agent and Canaccord Financial Inc. as co-agent.
The brokered private placement is subject to all necessary regulatory and stock exchange approvals. Closing will begin effective today with a final closing expected to be in mid-April 2010.
The securities being issued in the private placement are all subject to a four-month hold period in accordance with applicable Canadian securities laws. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and, until so registered, may not be offered or sold in the United States or any state or to, or for the account of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
About Biosign Technologies Inc.
Biosign 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 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 http://www.biosign.com.
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. 222, Email: firstname.lastname@example.org