Biosign Technologies Inc. (OTCPK:BITK.F) entered into share purchase agreement to acquire IBL Internet Business Logic Inc. for CAD 1.9 million on December 12, 2013. As part of consideration, Biosign Technologies will pay 36,733,540 common shares, CAD 0.08 million in cash and 125,000 warrants valued at CAD 15,000. Of the shares, 1,336,889 common shares will be paid on the 4th anniversary of closing. For the year December 31, 2012, Internet Business Logic Inc. had revenues of CAD 0.19 million, net loss of CAD 0.98 million, total assets of CAD 2.21 million and total common equity of CAD 0.96 million. This transaction is subject to receipt of all necessary regulatory, approval of Directors and Shareholders of IBL Internet Business Logic Inc. and approval of board of Biosign and mandatory government approvals. The common shares to be issued 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. Biosign will operate IBL as a wholly-owned subsidiary. As of March 20, 2014, TSX Venture Exchange has accepted for filing documentation the share purchase agreement. Weigel Corporate Finance acted as a financial advisor in the transaction.

Biosign Technologies Inc. (OTCPK:BITK.F) completed the acquisition of IBL Internet Business Logic Inc. on March 31, 2014.