Replies to post #1219 on Verisante Technology Inc (VRS.H)

[End Game]

July 9, 2015 at 7:30 am

Yeah, I still have faith. The BC Cancer Agency wants them to be successful at almost any cost. Time will tell.


"HIRES FULLTIME SCIENTIST FROM BCCA

VANCOUVER, BRITISH COLUMBIA - Verisante Technology, Inc. (TSX-V: VRS, OTCQX: VRSEF) (the “Company” or “Verisante”), a leader in skin cancer detection technology, announced today that it has entered into an agreement that amends the licensing agreement (the “Agreement”) originally entered into with the BC Cancer Agency (“BCCA”) in July 2010.

Under the more favorable terms of the Agreement, the Company continues to hold exclusive rights to use and sublicense BCCA’s patented Raman technology, and to manufacture and sell Aura™, a device for the detection of skin cancer, and Core™, a device for the detection of certain internal cancers in specified territories.

“The amended terms of our licensing agreement puts Verisante on a much stronger business footing,” said Thomas Braun, President & CEO. “We are looking forward to continuing our close collaboration with the BC Cancer Agency as we move ahead in bringing this game changing technology through the commercialization process.”

“The BC Cancer Agency is committed to the success of this exciting cancer detection methodology,” said Sam Abraham, Vice President of Research for the BC Cancer Agency. “The BC Cancer Agency has contributed many years of research and development into this technology, and we will work with Verisante as needed to enable success of this technology.”

In addition, the Company announced it has hired Dr. Michael Short, Ph.D. as a fulltime senior scientist. Dr. Short’s specialization includes the use of Raman spectroscopy for early cancer diagnosis, the optical detection of organic compounds in breath for disease screening, in addition to phosphorescence and fluorescence of materials and interaction of ionizing radiation with matter. He is also the co-author of numerous peer reviewed publications in the field of cancer imaging. After working for ten years at the BC Cancer Agency Research Centre, Dr. Short will lead the Company’s continuing research and development efforts in the Raman field. He recently played a major role in a previously announced ground-breaking brain cancer study in London, UK.

Verisante also announced today that the Company has closed a non-brokered private placement of 916,745 common shares at a price of $0.11 per share for gross proceeds of $100,842. The Company is also negotiating debt for shares settlements to decrease the accounts payable and preserve the current cash on hand. Currently the Company has agreements to issue a total of 552,137 common shares at a price of $0.10-0.17 per share, for total debt settlement of $76,664, and continues to negotiate debt for shares settlement agreements with other creditors."