Biosign Announces $1 Million Non-Brokered Financing

    
    /THIS PRESS RELEASE IS     

TORONTO, Nov. 27 /CNW/ - Biosign Technologies Inc. (the "Company", "Biosign") (CNQ: BIOS) announces a non-brokered private placement (the "Offering") to raise gross proceeds of up to $1 million. Avro Capital Corp. ("Avro") and Global Securities Corporation ("Global") will be assisting in the raising of these funds.

The Offering consists of a maximum of 4,000,000 units (the "Units") priced at $0.25 per Unit to raise a maximum gross proceeds of $1 million. Each Unit consists of one common share and one common share purchase warrant, with each warrant exercisable for a period of 24 months from the closing of the tranche, to acquire one common share at an exercise price of $0.50 per common share. The warrants are subject to an acceleration clause whereby the Company has the right to accelerate the exercise of the options via a press release notice should the share price exceed $1.90 for seven consecutive trading days. A finder's fee of a maximum cash compensation of 10% of the gross proceeds raised will be paid under the offering, and maximum compensation options equal to 10% of the aggregate number of Units sold pursuant to the Offering will also be paid. Each compensation option will entitle the holder thereof to purchase one common share at an exercise price of $0.25 per common share for a period of 24 months from the closing of the applicable tranche.

The Company also announces that Avro and Global have closed on the first tranche of the Offering by completing $400,000 of gross proceeds of the financing.

Proceeds from the Offering will be used to fund the Company's 2008-09 commercialization and partnering plans, as well as additional research and development of the Company's metering products.

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 (the "CNSX") and applicable securities laws.

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, employee wellness, remote patient monitoring, 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