Biosign Technologies Announces Amended Closing On Private Placement

TORONTO, Jan. 16, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) (the "Company") announced today an amendment to the scheduled closing applicable to an additional subscription of 6,000,000 units of the Company (the "Units") at a purchase price of $0.05 per Unit, which formed part of its previously announced private placement financing (see news releases issued on November 29, 2012 and December 21, 2012).  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.

Under the revised closing schedule, the second 6,000,000 Unit private placement is now scheduled to close as follows: $150,000 on January 28, 2013, $75,000 on February 14, 2013 and $75,000 on March 14, 2013.

Biosign CEO Robert Kaul stated: "We have agreed to our investor's request to slightly extend the scheduled closing of the second tranche of our private placement.  This extension 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.