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Cloud Dx Response to Annual Shareholders Meeting Questions

^{Published on 2011-09-19 04:57:04 - Market Wire}
 

SAN FRANCISCO, Sept. 19, 2011 /CNW/ - Cloud Dx, a division of Biosign Technologies Inc. (TSXV: BIO), a medical device company focused on non-invasive, cloud-based vital health monitoring, held its annual shareholder meeting Monday, conducted by chairman of the board, Dr. David Silver, where CEO, Dr. Scott Jenkins provided shareholders with a look at the Cloud Dx target market. The meeting concluded with all matters approved, including the election of Steven Bloom to the Board of Directors and the continuation of the company's employee stock option plan. Mr. Bloom was subsequently appointed as Chair of the Audit Committee by the Board of Directors.

Dr. Jenkins provided the shareholders with a look at the patient and disease management market globally and shared a snapshot of the Cloud Dx competitive landscape as defined by its market model to reduce the cost of healthcare utilization by providing an active cloud-based vital health monitoring system that allows providers to deliver the best quality of care to patients. To view Dr. Jenkins' presentation, please click on the link below (or copy/type the link into the address line of your browser): [ http://www.biosign.com/news.htm ]

Steven Bloom was elected to the Board of Directors and appointed by the board to Chair the Audit Committee. Mr. Bloom is the Senior Vice President, Finance at Kilmer Van Nostrand Co. Limited. He has served in various financial leadership positions, including Partner and Chief Financial Officer, Brightspark Capital; Chief Financial Officer, Think Dynamics; Vice President, Finance, Descartes Systems Group; and Manager, Ernst and Young.

Mr. Bloom is a Chartered Accountant and holds an Honors of Business Administration degree from the University of Western Ontario - Richard Ivey School of Business.

"We are very fortunate to have Steven Bloom on our board," says Dr. Scott Jenkins, CEO, Cloud Dx. "Steven's extensive and diverse financial experience will benefit our Audit Committee and bring a fresh perspective to the board."

In addition to the approval of the employee stock option plan, the Company granted an aggregate of 300,000 stock options pursuant to the Company's stock option plan to Steven Bloom.  150,000 of such options vest immediately and 150,000 vest over a two year period.  These options expire in 5 years and have an exercise price of $0.74 per share and are subject to receipt of all necessary regulatory and shareholder approvals.

About Biosign Technologies Inc

Biosign Technologies Inc. (TSXV: BIO) provides biomedical systems. Cloud Dx applications include intelligent systems for non-invasive monitoring of common health risks associated with blood pressure, glucose, and medication. Biosign technology combines measurement, analysis, and tools for disease and patient management to support global vital health monitoring. The UFIT® medical device delivers quality data collection and analytics for clinical diagnostics, self-care, wellness, disease state evaluation and management, and remote patient monitoring. For more information 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, Biosign'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.