Michael Gross, Chairman and acting Chief Executive Officer of Biosign acquired 12.5% stake in Meck Medical GmbH from Biosign Technologies Inc. (OTCPK:BITK.F) for CAD 0.48 million on August 28, 2014. The consideration involves CAD 0.4 million paid on closing while Michael Gross committed to pay an additional CAD 0.08 million subsequent to closing. As part of the transaction, Biosign has a repurchase option from the Investor that can be exercised at its own discretion for up to 6.25% of the issued and outstanding shares of MECK for a period three years. Biosign retains its 51% control of MECK through a voting trust agreement.

Michael Gross, Chairman and acting Chief Executive Officer of Biosign completed the acquisition of 12.5% stake in Meck Medical GmbH from Biosign Technologies Inc. (OTCPK:BITK.F) on August 28, 2014.