TORONTO, Nov. 26, 2012 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) (the "Company") announced today the closing of a private placement of units of the Company for gross proceeds of approximately $287,785 (the "Offering") for which total of approximately 4,427,462 units ("Units") shall be issued at a price of $0.065 per Unit. The Company paid $3,328 in commissions to certain Agents in connection with the Offering. Each Unit is comprised of one common share of the Company and one half common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the Company at a price of $0.10 respectively for a period of 12 months from closing date, subject to an acceleration of the expiry date, upon requisite board notice, in the event the price of the common shares on the TSX Venture Exchange (the "TSXV") closes in excess of $.20 for five consecutive trading days. The securities issued in connection with the Offering are subject to a four month hold period from the issuance date in accordance with the policies of the TSXV and applicable securities laws.
| The proceeds from the Offering have been used for general working capital purposes, including expenditures for production, operations and administration.
SOURCE: Biosign Technologies Inc.
For further information:
Biosign Contact Information
Chief Executive Officer
Phone: (416) 218-9800 ext. 201
Email: [email protected]