As previously disclosed on the Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 16, 2017, on March 10, 2017, Bioptix, Inc. (the “Company”) sold $2.25 million of units of its securities (the “Units”), to separate purchase agreements (the “Purchase Agreements”) with accredited investors (the “Investors”), at a purchase price of $2.50 per Unit. Each Unit consisted of one share (the “Shares”) of the Company’s common stock, no par value per share (the “Common Stock”), and a three year warrant (the “Warrants”) to purchase one share of Common Stock, at an exercise price of $3.50 per share (such sale and issuance, the “Private Placement”).

$1.25 million of the proceeds of the Private Placement and certificates representing 55.5556% of the Units sold in the Private Placement remained in escrow pending the occurrence or non-occurrence of a Qualified Transaction (as defined in the Purchase Agreements).

On May 25, 2017, the Lead Investor (as defined in the Purchase Agreements) waived the requirement for the occurrence of a Qualified Transaction and $1.25 million was released to the Company and the remaining Units were released to the Investors.

About Bioptix, Inc. (NASDAQ:BIOP)

Bioptix, Inc., formerly Venaxis, Inc., provides Enhanced Surface Plasmon Resonance (SPR) platform for the detection of molecular interactions. The Company’s line of Enhanced SPR instruments are designed to increase the flexibility and reliability of SPR. Its SPR biosensors shed light on important binding parameters that are crucial for determining whether a biologic or small molecule drug will be efficacious in humans and at what dose a drug should be administered. Its technology is an ultra-sensitive detection platform. The design of its SPR spectrometers allows discrete areas within the sample cell to be interrogated simultaneously by use of photo-diode arrays aligned to the reflected beam from the sample cell. Its biosensors provide information on kinetic processes (association and dissociation), binding affinities, analyte concentrations and real-time molecule detection. The Company offers 404pi Enhanced SPR System, which enables real-time detection of biomolecular interactions.

Bioptix, Inc. (NASDAQ:BIOP) Recent Trading Information

Bioptix, Inc. (NASDAQ:BIOP) closed its last trading session up +0.11 at 3.63 with 2,669 shares trading hands.