TORONTO, Nov. 29, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO, the
"Company") announces the following:
Annual General Meeting Scheduled:
Biosign will hold its Annual General Meeting of Shareholders will be
held at the Admiral Inn, 2161 N Sheridan Way, Mississauga, Ontario on February 6, 2014 at 11:00 a.m. (Toronto time) (the "Meeting") for the following
purposes:
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1)
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To receive the audited financial statements of the Company for the
fiscal year ended December 31, 2012 with auditor's report thereon;
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2)
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To fix the number of directors at seven and to elect seven directors for
the ensuing year;
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3)
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To appoint the Company's auditor for the ensuing year; and
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4)
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To transact such other business as may properly come before the Meeting
or any adjournment thereof.
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Only shareholders of record at the close of business on December 27,
2013 will be entitled to receive notice of, and to vote at, the Meeting
or any adjournment thereof. Shareholders who are unable to or who do
not wish to attend the Meeting in person are requested to date and sign
a Proxy form, to be mailed to shareholders, promptly and return it in
the self-addressed envelope enclosed for that purpose or by any of the
other methods indicated in the Proxy form. To be used at the Meeting,
proxies must be received by Computershare Investor Services Inc., Proxy
Department, 100 University Avenue, 9th Floor, Toronto, Ontario M5J 2Y1
by no later than 11:00 a.m. (Toronto time) on February 4, 2014 or, if
the Meeting is adjourned, by no later than 11:00 a.m. (Toronto time) on
the second last business day prior to the date on which the Meeting is
reconvened, or may be deposited with the chairman of the Meeting prior
to the commencement of the Meeting. If a registered shareholder
receives more than one Proxy form because such shareholder owns shares
registered in different names or addresses, each Proxy form should be
completed and returned.
Biosign Repatriates Exclusive Rights for Middle East and Asia:
Biosign has agreed to repatriate the exclusive reseller rights
previously granted to ALQAEM International FZE ("ALQAEM"), of Sharjah,
United Arab Emirates. Under a license agreement dated August 2010 and
amended in April 2011, ALQAEM received exclusive master distribution
rights to Biosign's products for the Middle East and North Africa
Region, covering 16 countries including Bahrain, Egypt, Iraq, Jordan,
Kuwait, Oman, Qatar, Saudi Arabia, Syria, United Arab Emirates, Sudan,
Tunisia, Morocco and Lebanon as well as non-exclusive distribution
rights for the Republic of Yemen and the Republic of Turkey. Biosign
and ALQAEM have agreed to irrevocably cancel these rights and return
them to Biosign, with a full release of liability from both parties, in
return for a one-time payment by Biosign to ALQAEM of $500,000, payable
in the form of 10,000,000 common shares of Biosign at an ascribed price
of $0.05 per share. The transaction is subject to board, regulatory
and, if necessary, shareholder approval. The common shares issued will
be subject to a regulatory hold period of 4 months and 1 day. In
addition, the parties have contractually agreed to restrict the resale
of these shares over a 24-month period.
Biosign CEO Robert Kaul: "Under Biosign's business plan, the Company
intends to re-align distribution of its products around the world.
Repatriating previously granted exclusivity in every region is part of
this strategy, as witnessed by our previous re-purchase of exclusive
rights from BioAnalytics Inc (see press release dated December 6, 2012)
and Denovo Medical (see press release dated October 16, 2012). ALQAEM
has made strides in creating awareness of Biosign's products in the
MENA region, and has been especially successful in establishing
relationships with UAE government authorities, including the leadership
in Sharjah Emirate. Going forward, Biosign intends to bring a new group
of stakeholders together to build profitable sales into the Gulf
Region, which made it critical to re-acquire exclusivity for these 16
countries."
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, software
enabled health information solutions including the Pulsewave® Health Monitor and the Healthanywhere™ Patient monitoring /
self-management platform. The Company's Pulsewave® Health Monitor solution enables pulse wave data collection for
cardiovascular clinical decision support and self-care, while its
Healthanywhere™ solution offers industry-leading remote patient
monitoring and patient centred care management. The Company also offers
a number of cardiovascular screening programs for consumers under its
Heart Friendly™ brand, including Heart Friendly™ Practice, Heart
Friendly™ Dentist, and Heart Friendly™ Fitness. For more information on
Biosign, please visit www.biosign.com
Forward-Looking Statements
This release contains forward-looking statements. Forward-looking
statements, without limitation, may contain the words believes,
expects, anticipates, estimates, intends, plans, or similar
expressions. Forward-looking statements are not guarantees of future
performance. They involve risks, uncertainties and assumptions and
Biosign's actual results could differ materially from those
anticipated. Forward looking statements are based on the opinions and
estimates of management at the date the statements are made, and are
subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
projected in the forward-looking statements. In the context of any
forward-looking information please refer to risk factors detailed in,
as well as other information contained in the company's filings with
Canadian securities regulators (www.sedar.com).
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.
