Bioasis Announces Shares for Debt Transaction
 

NEW HAVEN, CONN., BIOASIS TECHNOLOGIES INC. (OTCQB:BIOAF; TSX.V:BTI),a pre-clinical, research-stage biopharmaceutical company developing its proprietary xB3 ™ platform technology for the delivery of therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, including brain cancers and neurodegenerative diseases, today announced that it has entered into an agreement with an arm’s length third party pursuant to which Bioasis has agreed to issue 300,000 common shares to the third party at a deemed price of $0.3975 per share in order to resolve a contractual dispute. The shares for debt settlement remains subject to approval by the TSX Venture Exchange (the “TSXV”). The common shares issued pursuant to the shares for debt settlement will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issuance.

On behalf of the Board of Directors of Bioasis Technologies Inc