Biosign Technologies Inc. (OTCPK:BITK.F) executed a share purchase agreement to acquire 50% stake in Edgewater Employee Services Inc. for CAD 0.2 million in stock on June 6, 2014. The total purchase price of CAD 0.2 million will be satisfied by the issuance of 3.95 million common shares of Biosign. In connection with this transaction, Biosign entered into a consulting and business development agreement with Edgewater Financial Group Inc. and Kearns Investment Corporation for a term of 3 years. This transaction is subject to receipt of all necessary regulatory and government approvals. The common shares to be issued to the vendors in connection with this transaction will be subject to a regulatory hold period of 4 months and 1 day while certain selling activities are contractually restricted over a 24-month period. As of June 23, 2014, TSX Venture Exchange has accepted for filing documentation relating to a share purchase agreement. Weigel Corporate Finance acted as financial advisor to Edgewater Employee Services in the transaction.

Biosign Technologies Inc. (OTCPK:BITK.F) completed the acquisition of 50% stake in Edgewater Employee Services Inc. on July 16, 2014.