biOasis Announces Closing of Private Placement

VANCOUVER, B.C., June 1, 2009 (GLOBE NEWSWIRE) -- biOasis Technologies Inc.
(TSX-V:BTI) is pleased to announce that it has closed the private placement
announced April 16, 2009. The Company has issued a total of 1,000,000 units (the
"Units") at a price of $0.50 per Unit for gross proceeds of $500,000. Each Unit
consists of one common share and one common share purchase warrant. Each warrant
is exercisable into one common share for a period of one year at a price of
$0.60 per share. All securities issued are subject to a hold period expiring
September 30, 2009. The proceeds of the financing will be used to fund further
research projects and provide working capital.

A cash finder's fee of $50,000 was paid to registered securities dealers on the
placement of Units.

ABOUT BIOASIS:

biOasis Technologies Inc. is a Canadian Biotechnology company engaged in the
development and commercialization of diagnostics and therapeutics related to
neurological diseases. It has extensive and comprehensive intellectual property
("IP"), which it obtained, from the University of British Columbia. The
Company's initial area of focus will be on the utilization of its IP to pursue a
biomarker for the diagnosis of Alzheimer's disease based on a blood serum test
for concentration levels of p97 (Melanotransferrin). The IP has been
corroborated in double blinded and successive multi-site clinical trials.
According to the Centers for Disease Control and Prevention ("CDC"), Alzheimer's
disease was listed as the "underlying cause of death" for 65,829 Americans in
2004. It was the seventh leading cause of death for people of all ages and the
fifth leading cause of death in people age 65 and older. The Company is also
pursuing the use of p97 as a carrier for the drug delivery and other compounds,
which are normally significantly blocked by the Blood Brain Barrier, to cross
it.

To find out more about biOasis Technologies Inc. visit www.bioasis.ca.

On Behalf of the Board of Directors

Robin Hutchison
Director and CEO
"Neither 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 release."

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CONTACT: biOasis Technologies Inc.
Robin Hutchison, Director and CEO
(604) 542-5059
rob@bioasis.ca