Attorney Appointed to Administer Affairs of Biosign and Manage CTO

Toronto, Ontario (FSCwire) - Biosign Technologies Inc. (TSX.V-NEX – BIO.H), (“Biosign” or the “Company”).

Subsequent to the Company’s press release dated April 28^th, 2016, stating all directors and officers had resigned from the Company effective immediately, the Ontario Securities Commission (OSC) has issued a cease trade order (CTO) preventing trading in the Company’s securities as a result of its failure to file annual audited financial statements, annual management's discussion and analysis and failure to pay related filing fees for the year ended December 31, 2015 before the prescribed deadline of April 29, 2016.

In addition, on May 2^nd, 2016 a Bulletin was issued by the TSX Venture Exchange transferring the Company’s listing from TSX Venture Tier 2 to the NEX Board and trading was suspending in the Company effective May 3, 2016.

In order to mitigate any potential losses and to preserve any assets of the Company, a shareholder of the Company has retained and appointed Brendan Purdy, Barrister and Solicitor, as legal counsel to administer and manage the affairs of the Company until such time as a shareholder meeting is called.  Mr. Purdy will be contacting all former directors, officers, creditors, service providers and all parties having any business with Biosign for their assistance to obtain and reconstruct all records to April 28^th, 2016 – the day before the CTO was issued – in hopes of being able to remedy the default with the OSC. The company has 90 days from the date of the CTO to remedy the default by filing the required documents and paying the requisite fees without incurring further fees under Appendix C of OSC Rule 13-502 Fees. 

If you have been a director or officer of the Company, at any time during the period January 1, 2015 up until April 28^th, 2016, or have information concerning the affairs of the company during this time, please contact Mr. Purdy at the number below. Your assistance in effecting the transfer of information and records regarding company affairs will facilitate the possibility of completing of the audit and mitigating further losses for the company.

Any material updates will be press released and posted on SEDAR and on the Company’s website(s) upon their reactivation.

On Behalf of Biosign Technologies Inc.,

Contact: Brendan Purdy, Barrister and Solicitor, (416) 276-4581

Disclaimer for Forward-Looking Information

Statements in this press release regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated in such statements due to factors. Mr. Purdy, or any party(ies) (the “Parties”) involved do not intend to update any changes to such statements, except as required by law. Although the Parties believe that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.  Neither The TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has neither approved nor disapproved the contents of this press release nor accepts responsibility for the adequacy or accuracy of this release.  In addition, this news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available. The Parties seek safe harbour.

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