TORONTO, Jan. 31, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) (the "Company") announced today a further amendment to the scheduled
closing of a recent private placement (see press release from January
14th, 2013). This amendment applies to the previously announced additional
subscription of 6,000,000 units of the Company (the "Units") at a
purchase price of $0.05 per Unit, which formed part of its previously
announced private placement financing (see news releases issued on
November 29, 2012 and December 21, 2012). Each Unit is comprised of
one common share and one common share purchase warrant. Each common
share purchase warrant is exercisable for a two-year period at $0.05
per share during the first 12 months and $0.10 per share in the second
Under an amended closing schedule, the second 6,000,000 Unit private
placement is scheduled to close as previously announced in multiple
tranches between now and March 14th, 2013.
Biosign CEO Robert Kaul stated: "We are working with our investor to
accommodate the payment schedule for the closing of the second tranche
of our private placement. The full subscription is still expected to
close on or before March 14th, 2013 as previously announced, however Biosign has agreed to be
flexible and to accommodate changes to the timing of the tranches due.
This change to the payment schedule is not expected to disrupt the
Company's ability to continue with its corporate development
strategies, which include increased sales into the United States,
Canada and Europe."
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.
SOURCE: Biosign Technologies Inc.
For further information:
Biosign Contact Information
Chief Executive Officer
Phone: (416) 218-9800 ext. 201