TORONTO, Nov. 29, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO, the "Company") announces the following:
Annual General Meeting Scheduled:
Biosign will hold its Annual General Meeting of Shareholders will be held at the Admiral Inn, 2161 N Sheridan Way, Mississauga, Ontario on February 6, 2014 at 11:00 a.m. (Toronto time) (the "Meeting") for the following purposes:
|1)||To receive the audited financial statements of the Company for the fiscal year ended December 31, 2012 with auditor's report thereon;|
|2)||To fix the number of directors at seven and to elect seven directors for the ensuing year;|
|3)||To appoint the Company's auditor for the ensuing year; and|
|4)||To transact such other business as may properly come before the Meeting or any adjournment thereof.|
Only shareholders of record at the close of business on December 27, 2013 will be entitled to receive notice of, and to vote at, the Meeting or any adjournment thereof. Shareholders who are unable to or who do not wish to attend the Meeting in person are requested to date and sign a Proxy form, to be mailed to shareholders, promptly and return it in the self-addressed envelope enclosed for that purpose or by any of the other methods indicated in the Proxy form. To be used at the Meeting, proxies must be received by Computershare Investor Services Inc., Proxy Department, 100 University Avenue, 9th Floor, Toronto, Ontario M5J 2Y1 by no later than 11:00 a.m. (Toronto time) on February 4, 2014 or, if the Meeting is adjourned, by no later than 11:00 a.m. (Toronto time) on the second last business day prior to the date on which the Meeting is reconvened, or may be deposited with the chairman of the Meeting prior to the commencement of the Meeting. If a registered shareholder receives more than one Proxy form because such shareholder owns shares registered in different names or addresses, each Proxy form should be completed and returned.
Biosign Repatriates Exclusive Rights for Middle East and Asia:
Biosign has agreed to repatriate the exclusive reseller rights previously granted to ALQAEM International FZE ("ALQAEM"), of Sharjah, United Arab Emirates. Under a license agreement dated August 2010 and amended in April 2011, ALQAEM received exclusive master distribution rights to Biosign's products for the Middle East and North Africa Region, covering 16 countries including Bahrain, Egypt, Iraq, Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, Sudan, Tunisia, Morocco and Lebanon as well as non-exclusive distribution rights for the Republic of Yemen and the Republic of Turkey. Biosign and ALQAEM have agreed to irrevocably cancel these rights and return them to Biosign, with a full release of liability from both parties, in return for a one-time payment by Biosign to ALQAEM of $500,000, payable in the form of 10,000,000 common shares of Biosign at an ascribed price of $0.05 per share. The transaction is subject to board, regulatory and, if necessary, shareholder approval. The common shares issued will be subject to a regulatory hold period of 4 months and 1 day. In addition, the parties have contractually agreed to restrict the resale of these shares over a 24-month period.
Biosign CEO Robert Kaul: "Under Biosign's business plan, the Company intends to re-align distribution of its products around the world. Repatriating previously granted exclusivity in every region is part of this strategy, as witnessed by our previous re-purchase of exclusive rights from BioAnalytics Inc (see press release dated December 6, 2012) and Denovo Medical (see press release dated October 16, 2012). ALQAEM has made strides in creating awareness of Biosign's products in the MENA region, and has been especially successful in establishing relationships with UAE government authorities, including the leadership in Sharjah Emirate. Going forward, Biosign intends to bring a new group of stakeholders together to build profitable sales into the Gulf Region, which made it critical to re-acquire exclusivity for these 16 countries."
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, software enabled health information solutions including the Pulsewave® Health Monitor and the Healthanywhere™ Patient monitoring / self-management platform. The Company's Pulsewave® Health Monitor solution enables pulse wave data collection for cardiovascular clinical decision support and self-care, while its Healthanywhere™ solution offers industry-leading remote patient monitoring and patient centred care management. The Company also offers a number of cardiovascular screening programs for consumers under its Heart Friendly™ brand, including Heart Friendly™ Practice, Heart Friendly™ Dentist, and Heart Friendly™ Fitness. For more information on Biosign, please visit www.biosign.com
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 the company'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.
SOURCE: Biosign Technologies Inc.
For further information:
Biosign Contact Information:
Chief Executive Officer
Phone: (416) 218-9800 ext. 201
Email: [email protected]