Verisante Technology, Inc. Files Prospectus Supplement
Vancouver, British Columbia--(Newsfile Corp. - October 11, 2013) - Verisante Technology, Inc. (TSXV: VRS) (OTCQX: VRSEF) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that it has filed a prospectus supplement (the "Prospectus Supplement") dated October 11, 2013 to its final short form base shelf prospectus dated September 30, 2013.
The Prospectus Supplement offering consists of a minimum of 5,263,158 units and a maximum of 13,157,895 units ("Units") which will be offered at $0.19 each (the "Offering Price"), for gross proceeds of a minimum of $1,000,000 and a maximum of $2,500,000 (the "Offering"). Each Unit will consist of one common share and one warrant. Each whole warrant will entitle the holder to purchase one additional common share for $0.25 during a term of 24 months following closing of the Offering.
In connection with the Offering, the Company has entered into an agency agreement with Jordan Capital Markets Inc. (the "Agent") dated October 11, 2013, pursuant to which the Agent has been engaged to act as agent on a commercially reasonable efforts basis in connection with the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this release. Any such solicitation or offer may only be made in accordance with applicable laws.
About Verisante Technology, Inc.
Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians immediate results for many of the most common cancers. Aura™ has been approved for sale in Canada, Europe and Australia. Core™ has not yet been approved for sale.
Verisante Aura™ was awarded Popular Science Magazine's "Best of What's New Award" for 2011, awarded a 2013 Prism Award for Innovation in Photonics and an Edison Award for Excellence in Innovation in 2013. Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Thomas Braun, President & CEO
Verisante Technology, Inc.
Telephone: (604) 605-0507
Forward Looking Statements
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.