Microbix Appoints New Chief Financial Officer

TORONTO, ONTARIO--(Marketwired - Nov. 1, 2016) - Microbix Biosystems Inc. (TSX:MBX), an innovator of biological products and technologies, today announced that Charles Wallace, the Company's Chief Financial Officer, is retiring on December 31, 2016 after serving in this capacity since September 2013. Microbix also announced that Jim Currie is joining the Company on November 1, 2016 as the newly appointed Chief Financial Officer.

Mr. Currie was most recently the CFO at SMTC Corporation, a publicly traded global electronics manufacturing services company. Previously, he was Vice-President, Finance at MDS SCIEX, a global leader in life science and analytical technologies.

Vaughn Embro-Pantalony, President and CEO of Microbix commented, "I want to take this opportunity to thank Chuck for his strong financial stewardship; he was instrumental in helping the Company improve its financial position in recent years. And, I welcome Jim to Microbix and to the leadership team. We look forward to working with him as we continue to focus on driving the growth of our Company."

About Microbix Biosystems

Microbix Biosystems Inc. specializes in the research and development of biological solutions. This includes products for human health applications in the therapeutic and diagnostic markets and a product for the worldwide animal reproduction market. In its revenue generating business, the Company's virology products are at the core of the world's leading infectious disease diagnostics and quality control programs. The Company's pipeline of innovative technologies and products includes, Kinlytic, a thrombolytic drug with several approved and potential applications including the treatment of life-threatening blood clots, and the LumiSort semen sexing technology for the livestock industries. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.

Forward-Looking Information

This news release includes "forward-looking information," as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the risks associated with its revenue business, development projects, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company's judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

Please visit www.sedar.com for recent Microbix Biosystems Inc. filings.

For further information, please visit www.microbix.com.