VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2013) - Verisante Technology, Inc. (TSX VENTURE:VRS)(OTCQX:VRSEF)(FRANKFURT:V3T) (the "Company" or "Verisante"), a leader in cancer detection technology, announced today that it has retained Hamza Thindal Capital Corp. (the "Firm" or "Hamza Thindal") for investor relations to help broaden investor awareness via the Firm's established network of investors in North America, Europe and the Gulf/MENA Region.
"We are very pleased to start working with the team at Verisante as they enter an exciting phase of their commercialization strategy. As a medical doctor I understand the real need for the revolutionary products in Verisante's pipeline," said Dr. Essam Hamza MD, CEO of Hamza Thindal. "Our unique approach, experience and successful track record of working with development stage Health Care companies fits very well with Verisante as the company begins full commercialization," added Kam Thindal, President of Hamza Thindal.
"Hamza Thindal's experience and expertise in the healthcare market is impressive," said Thomas Braun, President & CEO of Verisante. "We are looking forward to working with their team to increase awareness and strengthen shareholder communication."
The agreement with Hamza Thindal is for a one-year term that may be terminated by either party in writing with 3 months notice. The Company will pay a consulting fee to Hamza Thindal of $7,500 per month plus approved expenses incurred on behalf of the Company and has granted 300,000 share purchase options at $0.75 per share. The options are exercisable for 24 months from the grant date and are subject to vesting over 12 months with no more than 1/4 of the options vesting in any three month period in accordance with TSX Venture Policy. Both the consulting agreement and the options grant are subject to the approval of the TSX Venture Exchange. Neither Hamza Thindal nor any of its principals have an ownership interest, directly or indirectly, in Verisante or its securities prior to this agreement.
About Verisante Technology, Inc.
Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancer. The Verisante Aura™ for skin cancer detection and the Verisante Core™ series for lung, colon and cervical cancer detection utilize a proprietary cancer detection platform while the operating software and probe technology are unique to each device. The cancer detection platform was developed by the BC Cancer Agency and tested and refined at the Skin Care Centre at Vancouver General Hospital. This exclusive platform technology allows Verisante to develop and offer a range of compact, non-invasive cancer detection devices that offer physicians immediate results for many of the most common cancers. Aura™ has been approved for sale in Canada, Europe and Australia. The Core™ has not yet been approved for sale.
Verisante Aura™ was awarded Popular Science Magazine's "Best of What's New Award" for 2011, and awarded a 2013 Prism Award for Innovation in Photonics. Verisante Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society.
About Hamza Thindal Capital Corp.
Hamza Thindal Capital is a Vancouver-based boutique capital markets firm providing fundraising, investor relations (IR) and advisory to emerging small-cap companies. The firm has the unique ability to combine fundraising and investor relations expertise with a market centric focus. The integration of these services provides our clients with a long term partner as their business grows. For more information please visit: www.htcapitalcorp.com.
This release contains forward-looking statements, including, but not limited to, statements regarding the future commercialization of medical devices, the market demand for these products and the proprietary protections the Company will obtain with regard to the technology, all of which statements are subject to market risks, and the possibility that the Company will not be able to obtain patent protection or obtain sufficient customer demand. These statements are made based upon current expectations and actual results may differ from those projected due to a number of risks and uncertainties.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.