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Verisante Provides Operational Update

May 20, 2016 at 6:43 pm

Verisante Technology, Inc. (TSX-V: VRS, OTCQX: VRSEF) (the “Company” or “Verisante”), a leader in skin cancer detection technology, provides an operational update after releasing its financial statements for the year ended December 31, 2015.

The Company has begun a program in British Columbia of placing Aura™, a device for the detection of skin cancer, with local partner clinics.  Currently, members of the public can visit the following clinics in British Columbia for an AuraScan™ and skin cancer screening services:

MD Wellness Solutions
#313-2626 Croydon Drive
Surrey, BC
Tel. (604) 385-3838

Mainland Medical Clinic
1061 Hamilton Street
Vancouver, BC
Tel. (604) 683-3973

Lakeshore Vein & Aesthetics Clinic
3293 Lakeshore Road
Kelowna, BC
Tel. (250) 860-9919

Verisante plans to continue to partner with suitable clinics in British Columbia to increase the number of Aura™ devices available to the public.  Doctors or clinics who may be interested in becoming a partner with the Company are encouraged to contact Verisante directly for more information.

In addition to the Aura™ devices recently placed in British Columbia, the Company continues to support the devices previously placed across the country including the Medcan Clinic in Toronto, Medpoint Health Care Centre in London, Ontario, and at Dr. Barry Lycka’s Dermasurgery clinic in Edmonton.

Verisante has further streamlined its production and manufacturing facilities and personnel to ensure the Company moves forward with the most cost-effective and efficient operations.  The Company has reduced General and Administrative expenses by 47% during the year ended December 31, 2015 as compared to the same period the previous year. 

Verisante is also continuing to work on obtaining US FDA approval for the Aura which is already approved in Canada and has a CE Mark.  The Company has held two teleconference calls with the FDA and received guidance in regards to what steps need to be taken to obtain market clearance for the United States. 

The Company is also in negotiations with a private lender for a long term debt financing of $3 million with additional equity financing that will assist Verisante in meeting our business and operational goals.  

About Verisante Technology, Inc.

Verisante is a medical device company committed to commercializing innovative systems for the early detection of cancerVerisante Aura™ for skin cancer detection and 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. Core™ has not yet been approved for sale.

Aura™ was awarded the 2014 North American Technology Innovation of the Year Award for In Vivo Cancer Detection by Frost & Sullivan,  Popular Science Magazine’s “Best of What’s New Award” for 2011, awarded a2013 Prism Award for Innovation in Photonics and an Edison Award for Excellence in Innovation in 2013. Core™ was named one of the top 10 cancer breakthroughs of 2011 by the Canadian Cancer Society.

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.

Company Contact:                                                                                          

Thomas Braun, President & CEO                                                                              
Verisante Technology, Inc.                                                                         
Telephone: (604) 605-0507                                                                       

Forward Looking Statements

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.

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