JERUSALEM, September 24, 2012 /PRNewswire/ --

?Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today once again that the company intends to issue a one-time special dividend to all existing shareholders pending the perpetual license sale of technology rights to a third party.

As recently reported, Medisafe 1 Technologies expects to close a $7MM non-exclusive perpetual license sale in early to mid-October. The agreement will transfer rights for the full commercialization, marketing and distribution of its patented medicinal locking mechanism and bar-code matching system to a third party.

Terms of the sale include a one-time $7MM payment. As a reward to Medisafe 1 Technologies' shareholders, the company then intends to issue a one-time dividend of $0.01 per share to each shareholder, approximately $5MM.

Currently, the company has approximately 500MM shares outstanding. As such, the company intends to payout approximately $5MM to shareholders in dividends upon successful completion of the sale.

"As a gesture to our investors, we will be extremely pleased to issue this special dividend pending the closure of our perpetual license sale agreement," said Jacob Elhadad, CEO of Medisafe 1 Technologies Corp.