Biosign Technologies Announces Further Amendment to Closing On Private Placement

TORONTO, Jan. 31, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO) (the "Company") announced today a further amendment to the scheduled closing of a recent private placement (see press release from January 14^th, 2013). This amendment 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 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 an amended closing schedule, the second 6,000,000 Unit private placement is scheduled to close as previously announced in multiple tranches between now and March 14^th, 2013.

Biosign CEO Robert Kaul stated: "We are working with our investor to accommodate the payment schedule for the closing of the second tranche of our private placement. The full subscription is still expected to close on or before March 14^th, 2013 as previously announced, however Biosign has agreed to be flexible and to accommodate changes to the timing of the tranches due.  This change to the 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.