Biosign Technologies Inc. (OTCPK:BITK.F) executed a share purchase agreement to acquire 51% stake in Meck Medical GmbH for €1 million on June 19, 2014. Biosign Technologies Inc. will pay €0.9 million in cash and issue 3 million shares as purchase consideration. In order to finance the cash portion of the purchase price for the Meck Medical GmbH acquisition and related transaction costs, Biosign Technologies Inc arranged unsecured demand loan in the principal amount of €1.2 million, with interest payable at the Bank of England prime rate plus 3% per annum. In connection with the acquisition, Biosign Technologies Inc has agreed to provide Meck Medical GmbH a loan to fund its operations of up to €0.1 million per month to a maximum of 2.4 million Euros in the aggregate. Meck Medical GmbH is required to have a reserve pool of not less than €0.05million at all times. The loan will bear interest at 5.75% per annum and is repayable based on future Meck Medical GmbH profits with maturity in 5 years from the date of the first advance. In connection with the acquisition, Meck Medical GmbH has agreed to pay a co-founder a total of €1 million over 8 quarters starting in August 2014 to acquire certain intellectual property. The transaction is subject to regulatory and government approvals. The common shares to be issued to the vendor in connection with the transaction will be subject to a regulatory hold period of 4 months and 1 day. The conversions were made through www.oanda.com on June 19, 2014. Winfried Weigel of Weigel Corporate Finance acted as financial advisor for Biosign Technologies.

Biosign Technologies Inc. (OTCPK:BITK.F) completed the acquisition of 51% of Meck Medical GmbH on June 30, 2014.