TORONTO, March 15, 2013 /CNW/ - Biosign Technologies Inc. (TSXV: BIO)
("Biosign" or the "Company") today announced the following:
Changes to the Board of Directors:
Biosign announces the resignation of directors Mr. Jason Meretsky and Senator
Alfonse D'Amato, effective immediately. Mr. Meretsky and Senator D'Amato are
leaving the Board in order to devote time to their other business interests.
The Board and management wish to sincerely thank both directors for their
dedicated service. They have helped lead Biosign through a challenging period
of restructuring and their advice and counsel have been instrumental in
allowing the Company to succeed. We wish them both great success in all their
Biosign is pleased to announce the appointment of two new directors:
Dr. Sandeep (Sonny) Kohli is an attending Physician in the Intensive Care
Department of Oakville Trafalgar Memorial Hospital and Assistant Clinical
Professor (Adjunct) of Medicine at McMaster University. He is also the Medical
Director, ACLS, at the Michener Institute for Applied Health Sciences and
President of Triomi Medical Innovations Inc. From May 2008 to March 2009Dr.
Kohli was an Astronaut Candidate at the Canadian Space Agency (CSA), where he
was awarded a Scholarship by the CSA as a Critical Care Medicine fellow to go
to Johnson Space Center and partake in aerospace medical research activities.
Dr. Kohli has also been appointed as Medical Director for Biosign. He is
highly knowledgeable regarding Biosign's Pulsewave™ product, having
previously served as a medical advisor to BioAnalytics Inc., a Biosign
Mr. Dennis Rygwalski is a senior financial services & technology executive
recognized for leading best-of-class enterprise IT and bank operations
organizations. He is currently the founder of D. Rygwalsky & Associates Inc.,
a Tulsa, Oklahoma management consulting firm to the financial services and
technology sectors. Until 2012 he served as EVP Technology & Chief
Information Officer for Western Alliance Bancorp, a $7 billion commercial
multi-bank holding company based in Phoenix, Arizona, and before that he held
the positions of Chief Technology Officer for the Bank of Oklahoma, a $25
billion financial services group (2006-2011), head of Finance Industry
Solutions for Boston-based technology provider Exigen Group (2001-2005), and
Chief Information Officer for Fleet Boston Financial, a $180 billion
diversified banking and financial services company acquired by Bank of America
in 2004 (1988-2001).
With these appointments, the Board now consists of independent directors Dr.
Sonny Kohli and Mr. Dennis Rygwalski, along with Chairman John Rizvi and
Biosign CEO Robert Kaul.
Biosign CEO Robert Kaul commented: "I would like to personally thank Mr.
Meretsky and Senator D'Amato for their work on the Board. They have both
provided our team with outstanding advice and their wisdom has been much
appreciated. We are pleased to welcome two new Board members. Dr. Sonny Kohli
is a very passionate, articulate advocate for Biosign's products and we look
forward to his assistance as we present our products to the medical community.
Dennis Rygwalski brings to the Company many years of experience as a senior
technology leader and his advice will be particularly welcome as Biosign grows
into the U.S. market starting in 2013. I believe that shareholders will be
well served by the addition of these independent directors."
Update on Previously-Announced Financing
With respect 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,
forming part of the previously- announced private placement (see news release
issued on December 21, 2012), a tranche of 700,000 Units was completed on
March 14, 2013 for gross proceeds to the Company of $35,000. The investor has
not completed the remaining subscription for 4,300,000 Units on the scheduled
closing date. As a result of the foregoing, the Company reserves all of its
rights and remedies available under the subscription agreement with the
About Biosign Technologies Inc.
Biosign Technologies Inc. (TSXV: BIO) provides automated, computer enabled
health information products. Key applications include the noninvasive
monitoring of vital signs including blood pressure, pulse rate and breathing
rate, enhanced with web services. The Company's Pulsewave™ medical device
technology powers data collection for clinical decision support, self-care,
wellness and disease management, while it's Healthanywhere™ software suite
offers industry-leading remote patient monitoring solutions. The Company
offers a number of cardiovascular screening programs for consumers under its
Heart Friendly™ brand, including Heart Friendly™ Dentist. For more
information on Biosign, please visit www.biosign.com
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, Biosign's filings with Canadian securities regulators
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.
Biosign Contact Information
Robert Kaul Chief Executive Officer Biosign Technologies Phone: (416) 218-9800
ext. 201 Email:firstname.lastname@example.org
SOURCE: Biosign Technologies Inc.
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