TORONTO, March 29, 2012 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) ("Biosign") is pleased to announce that it has settled its outstanding litigation matter with Avro Capital Corp. ("Avro") and certain of its principals. As part of the settlement terms involving Biosign, Avro's settlement will include options to purchase up to 1,600,000 common shares of Biosign at an exercise price of $0.10 per share, subject to vesting and regulatory approval, and exercisable for a 3 year term. The parties have executed a mutual release and have consented to the dismissal of all outstanding actions.
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: 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® 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
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For further information:
Scott Jenkins, CEO
Biosign Technologies Inc.
Phone: (416) 218-9800 ext. 234
Biosign Investor Relations Contact:
Bay Street Connect