Cheoin Leisure Co., Ltd. Completes Acquisition of Units of Aurinia Pharmaceuticals Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 29, 2016) - Cheoin Leisure Co., Ltd. (the "Acquiror") is pleased to announce that it has acquired 1,694,915 units (the "Units") of Aurinia Pharmaceuticals Inc. ("Aurinia") under a previously announced private placement (the "Private Placement") at US$2.36 per Unit which, based on the June 22, 2016 Bank of Canada closing exchange rate of CDN$1.2839 per U.S. dollar, equals CDN$3.03 per Unit. Each Unit comprises one common share ("Common Share") in the capital of Aurinia and 0.35 of a Common Share purchase warrant (each whole such warrant, a "Warrant"), each such Warrant entitling the holder to purchase one Common Share.

Prior to the Private Placement, the Acquiror held nil Common Shares and Warrants representing 0% of the issued and outstanding Common Shares. After the Private Placement, the Acquiror holds 1,694,915 Common Shares and 593,220 Warrants representing beneficial ownership and control of 4.80% of the issued and outstanding Common Shares on a non-diluted basis and 5.05% of the outstanding Common Shares on a fully diluted basis.

Depending on market conditions and regulatory requirements, the Acquiror may from time to time increase or decrease its beneficial ownership, control or direction over any of Aurinia's securities through market transactions, private agreements or otherwise. The Acquiror also announces that it has filed Form 62-103F1 - Required Disclosure Under the Early Warning Requirements as a result of its acquisition under the Private Placement, a copy of which can be obtained on Aurinia's SEDAR profile at www.sedar.com or by contacting the Acquiror.