Biosign Announces Closing of the Financing announced September 2, 2008

    
    /THIS PRESS RELEASE IS     

TORONTO, Nov. 21 /CNW/ - Biosign Technologies Inc. (the "Company", "Biosign") (CNSX: BIO) announces that as of October 17, 2008 it has raised proceeds of $ 800,449.80 pursuant to the private placement offering announced September 2, 2008. Due to market conditions the offering was closed effective November 20th, 2008 with a total placement of 2,287,142 units at a price of $0.35. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable for a period of 18 months from the closing of the tranche, to acquire one common share at an exercise price of $1.20 per common share. The warrants are subject to an acceleration clause whereby the Company has the right to accelerate the exercise of the warrants via a press release notice should the share price exceed $1.90 for seven consecutive trading days.

Finder's fee commission consists of a maximum cash compensation of 10% of the gross proceeds raised and maximum compensation options equal to 10% of the aggregate number of Units sold pursuant to the Offering. Each compensation option will entitle the holder thereof to purchase one common share at an exercise price of $0.35 per common share for a period of 24 months from the closing of the applicable tranche.

The common shares and warrants to be issued in connection with this Offering will be subject to a four month hold period from the share issuance date in accordance with the policies of the Canadian National Stock Exchange (CNSX Markets Inc.) and applicable securities laws.

Proceeds from the Offering will be used to fund Biosign's product development and commercialization plans.

About Biosign Technologies

Biosign provides technologies, products and initiatives to address critical problems in global health care. The focus is on monitoring health status, outcomes, and risk toward maximizing clinical awareness, readiness, and effectiveness. The thrust is on enabling autonomous medical care to optimize healthcare quality, access, and cost. The core technology expands virtual instrumentation with universal measurement and rapid knowledge formation to support service oriented enterprising across global markets. Trademarked UFIT, the web-based technology powers several business lines in self-care, wellness, remote patient monitoring, and chronic disease evaluation and management. Key applications include intelligent systems for noninvasive monitoring of common health risks such as high blood pressure, high blood glucose, and adverse responses to medication. For more information on Biosign please visit http://www.biosign.com

    
    The CNQ has neither approved nor disapproved the contents of this press
    release.
    

Certain information regarding the company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with medical technology companies, research and development, volatility of prices, currency fluctuations, imprecision of estimates, business environment risks, access to labor and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in any forward-looking statements. The Canadian Trading and Quotation System Inc. (CNQ) Stock Exchange, does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Radu Leca
President & CEO
Biosign Technologies Inc.
Phone: (416) 218-9800
ext. 222
Email: ceo@biosign.com