TORONTO, Feb. 15, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) (the "Company") announced today an update on the scheduled closing of a
recent private placement. This announcement 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 forms part
of its previously announced private placement financing (see news
releases issued on November 29, 2012, December 21, 2012, January 14,
2013 and January 31, 2013). 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 twelve months.
A tranche of 1,000,000 Units closed as scheduled on February 3, 2013.
Under the previously announced, amended closing schedule, the next
5,000,000 Unit private placement is still scheduled to close in
multiple tranches between now and March 14, 2013.
Biosign CEO Robert Kaul stated: "We continue to work with our investor
to accommodate the payment schedule for the closing of the December 21,
2012 private placement. The full subscription is still expected to
close on or before March 14, 2013 as previously announced, and Biosign
continues to be flexible and to accommodate the timing of the tranches
due. This 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.