Global Life Safety Group, Inc. reached an agreement in principle to acquire certain assets of Pulsewave® Medical Device Product Line from Biosign Technologies Inc. for CAD 2 million on August 11, 2014. Pursuant to the agreement in principle, Global will acquire the Pulsewave assets, intellectual property and certain other intangible assets, for a total purchase price of CAD 2 million to be paid over 5 years with minimum payments of CAD 0.1 million per year. Payments will be accelerated upon satisfaction of certain milestones. Biosign's Chairman, Michael Gross, has been appointed as interim Chief Executive Officer of the Company. The transaction is subject to the execution of definitive agreements, Biosign board approval and all necessary regulatory approvals, and is expected to close on or about August 15, 2014.

Biosign Technologies Inc. was paid CAD 0.025 million on closing and an additional CAD 0.080 million is expected to be received on or before October 15, 2014.