Company sells common shares with one-year warrants at C$0.80 per unit
By Devika Patel
Knoxville, Tenn., July 28 - Biosign Technologies Inc. said it completed a C$1.91 million private placement of stock. Saratoga Finance Inc. was the agent.
The company sold 2,384,551 units of one common share and one warrant at C$0.80 per unit. Each warrant is exercisable at C$1.00 for one year. The strike price reflects a 5.26% premium to the July 27 closing share price of C$0.95.
Proceeds will be used for general working capital purposes, including expenditures for production, operations and administration purposes, as well as contract manufacturing of hardware.
Toronto-based Biosign develops monitors to detect diseases like hypertension and diabetes.
| Issuer: | Biosign Technologies Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,907,641
|
| Units: | 2,384,551
|
| Price: | C$0.80
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.00
|
| Agent: | Saratoga Finance Inc.
|
| Settlement date: | July 28
|
| Stock symbol: | TSX Venture: BIO
|
| Stock price: | C$0.95 at close July 27
|
| Market capitalization: | C$69.49 million
|
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