GeneNews to Hold Shareholder Meeting

Wed Jan 16, 2013 8:16pm EST

* Reuters is not responsible for the content in this press release.

http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130117:nGNXUWZCHa

TORONTO, Jan. 16, 2013 (GLOBE NEWSWIRE) -- GeneNews Limited (TSX:GEN) ("GeneNews" or the
"Company") today announced an extension to the term of certain share purchase warrants (the
"Warrants"), subject to the approval of a majority of disinterested shareholders at a special
meeting (including any adjournments or postponements thereof, the "Meeting") to be held at the
offices of Fasken Martineau DuMoulin LLP at 333 Bay Street, Suite 2400, Bay Adelaide Centre,
Toronto, ON M5H 2T6, Canada on Friday, February 22, 2013, at 10:00 a.m. (Eastern time). The expiry
date of the Warrants would be extended as follows:

* 2,978,065 Warrants amended and restated on January 16, 2012, exercisable into 521,161 Common
Shares, having an exercise price of $1.44 per Common Share and expiring February 1, 2013 (the
"2012 Warrants") would be extended to February 1, 2015 effective January 31, 2013;
 
* 12,752,208 Warrants dated June 8, 2011, exercisable into 2,231,636 Common Shares, having an
exercise price of $1.44 per Common Share and expiring February 1, 2013 (together with the 2012
Warrants, the "February Warrants") would be extended to February 1, 2015 effective January 31,
2013; and
 
* 4,250,903 Warrants dated November 12, 2010, exercisable into 743,908 Common Shares, having an
exercise price of $1.44 per Common Share and expiring on June 1, 2013 (the "June Warrants") would
be extended to June 1, 2015 effective the date of the Meeting.

All other provisions of the Warrants will remain the same. Full exercise of the Warrants would
result in 3,496,705 Common Shares to be issued, representing 10.4% of the Corporation's currently
issued and outstanding 33,744,883 Common Shares. Insiders of GeneNews hold an aggregate of
8,648,872 Warrants, which represent 43.3% of the 19,981,176 Warrants being amended. Of the
Warrants held by insiders of GeneNews, Rory Riggs (Director and Chair of the Board of GeneNews)
holds 3,813,956 Warrants and AWM Investment Company, Inc. (employer of David Sable, who is a
Director of GeneNews) holds 4,834,916 Warrants.

Between February 1, 2013 and the date of the Meeting, no February Warrants may be exercised. If
the requisite shareholder approval is not received, the February Warrants will terminate as at the
date of the Meeting and the June Warrants will terminate on June 1, 2013.

About GeneNews

GeneNews is a molecular diagnostics company focused on the application of functional genomics to
enable early diagnosis and personalized health management based on disease specific biomarkers.
The Company has a patented core platform technology, the Sentinel Principle, which has the power
to detect and stage virtually any disease or medical condition from a simple blood sample.
GeneNews is currently applying the Sentinel Principle in major areas with unmet clinical needs
such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews' lead
product, ColonSentry, is the world's first blood test to pre-screen and assess an individual's
current risk for colorectal cancer. For more information on GeneNews and ColonSentry, go to
www.GeneNews.com
http://www.globenewswire.com/newsroom/ctr?d=10018406&l=5&a=www.GeneNews.com&u=http%3A%2F%2Fwww.GeneNews.com
 or www.ColonSentry.com
http://www.globenewswire.com/newsroom/ctr?d=10018406&l=5&a=www.ColonSentry.com&u=http%3A%2F%2Fwww.ColonSentry.com
.

Forward-Looking Statements

This press release contains forward-looking statements, which reflect GeneNews' current
expectations regarding the future extension of the warrants of GeneNews. The forward-looking
statements involve risks and uncertainties, including the result of the disinterested shareholder
vote to extend the Warrants. Actual events could differ materially from those projected herein.
Investors should consult the Company's ongoing quarterly filings, annual information form and
annual reports for additional information on risks and uncertainties relating to these
forward-looking statements. The reader is cautioned not to rely on these forward-looking
statements. Subject to applicable law, the Company disclaims any obligation to update these
forward-looking statements.

CONTACT: Company Contact:
         Gailina Liew
         President & COO
         Office: (905) 739-2036
         Mobile: (416) 844-0649
         gliew@genenews.com
         
         Investor & Media Contact:
         Stephen Kilmer
         Kilmer Lucas Inc.
         Office: (212) 618-6347
         Mobile: (905) 906-6908
         stephen@kilmerlucas.com

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