$ ABC PENNY STOCK ALERTS $: VeriTeQ Corporation Executes Term Sheet for Exclusive License of Its Q Inside Safety Technology for Breast Implant Market With $1.75 Million Upfront Payment



Licensee Will Have 24-Month Option to Purchase Q Inside Safety Technology for the Breast Implant Market for $10 Million


DELRAY BEACH, Fla., Feb 12, 2015 (GLOBE NEWSWIRE via COMTEX) -- VeriTeQ Corporation (OTC Markets: VTEQD) ("VeriTeQ"), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that that it has executed a term sheet with Establishment Labs, S.A., ("EL"). Under the proposed agreement, VeriTeQ would exclusively license its intellectual property, safety data test and FDA file reference, and business opportunities related to its Q Inside Safety Technology for the breast implant market to EL, and EL would pay an upfront license fee of $1.75 million. EL would also have a 24-month option to purchase VeriTeQ's Q Inside Safety Technology business for the breast implant market for $10 million, minus the license fee. VeriTeQ expects to continue to operate its business for the breast implant markets as well as other proprietary applications for its Q Inside Safety Technology.

The parties also intend to jointly develop a pressure-sensing radio frequency identification ("RFID") product to detect pressure thresholds in breast implants and other medical devices.

"Our partnership with Establishment Labs is very strong, and we see many benefits from granting this exclusive license for the breast implant market to EL," said Scott R. Silverman, Chairman and CEO of VeriTeQ. "Not only will EL deliver cash upfront to us, but also we believe this agreement will ultimately result in increased sales of our products, both to EL and other manufacturers of breast implants, which is advantageous to both companies."

The parties agreed to work towards finalizing more formal documentation/contracts within 90 days.





 


http://online.wsj.com/article/PR-CO-20140108-906281.html


     

http://www.telegraph.co.uk/health/10541231/National-register-for-breast-implant-operations.html






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About VeriTeQ

VeriTeQ develops innovative, proprietary RFID technologies for implantable medical device identification, and dosimeter technologies for use in radiation therapy treatment. VeriTeQ offers the world's first FDA cleared RFID microtransponder technology, called Q Inside Safety Technology(TM), that can be used to identify implantable medical devices, in vivo, on demand, at the point of care. VeriTeQ's dosimeters provide patient safety mechanisms while measuring and recording the dose of radiation delivered to a patient in real time. For more information on VeriTeQ, please visit www.veriteqcorp.com.
VeriTeQ Corporation Announces Reverse Stock Split

Company to Trade as VTEQD for 20 Trading Days

DELRAY BEACH, Fla., Feb 10, 2015 (GLOBE NEWSWIRE via COMTEX) -- VeriTeQ Corporation (OTC Markets:VTEQ) ("VeriTeQ" or the "Company"), a provider of implantable medical device identification and radiation dose measurement technologies, announced today that its Board of Directors and FINRA have approved a reverse split of the Company's common stock at a ratio of 1-for-1000, commencing at the open of trading on February 11, 2015.

The Company's ticker symbol will be VTEQD for 20 trading days to designate that it is trading on a post-reverse split basis. VeriTeQ's post-split common stock will trade under the new CUSIP Number 923449 201. As a result of the reverse stock split, each 1,000 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the respective holders, and the number of outstanding common shares will be reduced to approximately 1.2 million shares.

The reverse stock split will also apply to common stock issuable upon the conversion of outstanding notes payable and convertible preferred stock, and upon the exercise of outstanding warrants and stock options.

The Company's transfer agent, VStock Transfer, LLC, will provide instructions to stockholders regarding the process for exchanging shares. No fractional shares will be issued as a result of the reverse stock split, and stockholders who otherwise would be entitled to a fractional share will receive, in lieu thereof, a cash payment which will equal the product obtained by multiplying (a) the fraction to which the stockholder would otherwise be entitled; by (b) the per share closing sales price of the Company's common stock on the effective date of the reverse stock split.

The reverse stock split was previously approved by the Company's stockholders at the 2014 Annual Meeting of Stockholders held on December 18, 2014. Further details of the reverse stock split are contained in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission this day.

About VeriTeQ

VeriTeQ develops innovative, proprietary RFID technologies for implantable medical device identification, and dosimeter technologies for use in radiation therapy treatment. VeriTeQ offers the world's first FDA cleared RFID microtransponder technology that can be used to identify implantable medical devices, in vivo, on demand, at the point of care. VeriTeQ's dosimeters provide patient safety mechanisms while measuring and recording the dose of radiation delivered to a patient in real time. For more information on VeriTeQ, please visitwww.veriteqcorp.com.

VeriTeQ Corporate Website

VeriTeQ completed a share exchange agreement with Digital Angel Corporation, which trades as DIGA. Digital Angel is changing its name change to VeriTeQ and will also change its stock symbol.
VeriTeQ develops innovative RFID technologies for implantable medical device identification and radiation dose measurement technologies.
VeriTeQ's FDA-cleared Unique Device Identifier (UDI) is used to identify implantable medical devices, on demand. VeriTeQ's dosimeters help ensure patient safety by measuring the dose of radiation delivered to a patient in real time.

Management Team
Scott R. Silverman, Chairman and CEO
Mr. Silverman has been Chairman and CEO of VeriTeQ since its inception in December 2011. He served as Chairman and CEO of PositiveID Corporation (OTCBB:PSID) from 2008 to August 2011, and Chairman and CEO of VeriChip Corporation (NASDAQ:CHIP) from December 2006 to July 2008. He was Chairman of Digital Angel Corporation from 2003 to 2007. From 2003 to 2006, Silverman served as Chairman and CEO of Applied Digital Solutions (NASDAQ:ADSX). Prior to his role as Chairman and CEO of Applied Digital he held other senior positions with the company. Silverman is an attorney licensed to practice in NJ and PA, and has more than 15 years of executive experience with technology companies. He is a graduate of the University of Pennsylvania and Villanova School of Law.

Randolph K. Geissler, President
Mr. Geissler has been President of VeriTeQ since July 2012 and is also currently the CEO of Geissler Corporation. He specializes in managing companies and technologies focused on RFID, optical imaging and artificial antibodies. His vision and implementation are directly responsible for bringing the implantable microchip from "just an idea" to its highly successful status of more than 80 million microchips implanted in animals worldwide for identification and tracking. He previously served as CEO of Geissler Technologies (2004 - 2008) when he sold the company's expansive product development pipeline. Prior to that, he served as CEO of Digital Angel Corporation (AMEX: DOC) (2000 - 2003) and Destron Fearing (Nasdaq: DFCO) (1993 - 1999), a company he founded. He took his company public (two times) and has broad experience in product development, electronic miniaturization, application of advanced technologies in new markets, and creating marketing alliances; plus extensive experience in establishing strategic intellectual property and patent portfolios.

Caryn Mills, Director of Strategic Alliances
Ms. Mills joined the VeriTeQ team in September 2013, bringing 15-plus years of extensive experience in pharmaceutical and medical device sales, marketing and business development. Prior to joining VeriTeQ, Ms. Mills held top producing sales, management, marketing and business development positions with medical device and pharmaceutical companies including Schering Plough Pharmaceuticals(December 1998-July 2005), King Hospital Surgical Division (July 2005- January 2011), and Covidien Surgical Solutions (January 2011-August 2013). Ms. Mills is responsible for identifying and advancing new partnerships with implantable medical device manufacturers to help them meet federal regulations requiring unique device identification ("UDI"), by using the Company's FDA cleared radio frequency identification microchip "Q inside" within their devices. Ms. Mills will also be responsible for bringing to market the Company's dosimeter technologies for use in radiation therapy treatment.

Allison Tomek, Sr. VP, Investor Relations & Corporate Communications
Ms. Tomek has served as Sr. VP, IR and Corporate Communications of VeriTeQ since its inception and has served as Sr. VP, Investor Relations & Corporate Communications of PositiveID since 2009. She joined PositiveID in January 2007 as VP. From January 2007 to June 2008 she was VP of Investor Relations at Applied Digital Solutions and Digital Angel. From 2003 to 2006, Tomek was Director of Investor Relations and Corporate Communications at Andrx Corporation (NASDAQ:ADRX), a pharmaceutical manufacturer and distributor, and held investor relations positions at RailAmerica (NYSE:RRA) from 2001 to 2003. Tomek is the former President of the National Investor Relations Institute – South Florida chapter and a current member of the chapter’s Board.

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