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Verisante Completes Private Placement, Announces Attendance at the American Academy of Dermatology Meeting


February 1, 2011 at 3:47 pm

Vancouver, Canada: Verisante Technology, Inc. (TSX-V: VRS) (the “Company” or “Verisante”) announced today that it has completed a private placement of 4,000,000 units (“Units”) at a price of $0.25 per Unit for gross proceeds of $1,000,000. Each Unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to acquire a common share at a price of $0.30 for a period of 24 months from the date of issuance.

In addition, the Company will pay $69,500 as a 10% cash finder’s fee to three parties that referred certain subscribers to the Company.

“Verisante offers a compelling opportunity to invest early in a breakthrough cancer-detection technology,” said Thomas Braun, President and CEO. “We are advancing toward the commercialization of our technology and planning for the company’s long-term growth. The funds raised will be invested in the commercialization of Verisante Aura, obtaining regulatory approvals, marketing, setting up our manufacturing facility and general working capital.”

The Verisante Aura is a non-invasive light ray that uses proprietary technology to measure 21 different cancer bio-markers to detect skin cancer instantly, providing immediate and accurate results. The cancer detection platform was developed by the BC Cancer Agency and tested and refined on approximately 1,000 lesions at the Skin Care Centre at Vancouver General Hospital.

The securities issued are subject to a hold period of four months or twelve months from the date of distribution, depending on the residence of the subscriber. Completion of the private placement is subject to final acceptance of the TSX Venture Exchange.

American Academy of Dermatology (AAD) 69th Annual Meeting

Verisante will be exhibiting for the first time at a dermatology conference with an information and education booth at the AAD annual meeting from February 4-8, 2011 at the Ernest N. Morial Convention Centre in New Orleans, LA.  The American Academy of Dermatology is the world’s largest dermatologic association, with a global membership of over 16,000.  The AAD’s annual meeting includes anticipated attendance by nearly 20,000 dermatologists, other medical personnel, exhibitors and guests.

“We look forward to meeting potential customers, investors and partners in New Orleans and presenting Verisante’s innovative, proprietary technology,” said Braun.

Any members of the media who wish to meet with Verisante in New Orleans should email Mahafrine Petigara at mahafrine.petigara@edelman.com.  Others wishing to arrange a meeting with Verisante during these events should email Anna Trinh at atrinh@verisante.com.

 
About Verisante

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 on approximately 1,000 lesions 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 immediate results for many of the most common cancers.

About the BC Cancer Agency

The BC Cancer Agency, an agency of the Provincial Health Services Authority, is committed to reducing the incidence of cancer, reducing the mortality from cancer, and improving the quality of life of those living with cancer. It provides a comprehensive cancer control program for the people of British Columbia by working with community partners to deliver a range of oncology services, including prevention, early detection, diagnosis and treatment, research, education, supportive care, rehabilitation and palliative care. The BC Cancer Foundation raises funds to support research and enhancements to patient care at the BC Cancer Agency. www.bccancer.bc.ca

About The Skin Care Centre at Vancouver General Hospital

The Skin Care Centre at VGH is affiliated with the UBC Department of Dermatology and Skin Sciences. It is a national centre of excellence uniting clinical care, research, and education. The Centre sees over 20,000 patients annually in general and subspecialty dermatology clinics, and runs the country's busiest phototherapy centre. A critical component of the Skin Care Centre at VGH is its comprehensive and aggressive program dedicated to exploring all aspects of skin cancer, encompassing treatment, clinical, and basic science research.  http://www.skincarecentre.ca/

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.

For further information contact:

Verisante Technology, Inc.
Thomas Braun, President & CEO   
Telephone: 1-877-605-0507

Email: info@verisante.com
Website:  www.verisante.com

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