Network Life Sciences Inc. Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 7, 2016) -

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Network Life Sciences Inc. (CSE:NOI) (FRANKFURT:2NY1), ("Network", "the Company") announces that it intends to complete a private placement of up to ten (10) million units (the "Units") at a price of $0.20 per Unit to raise gross proceeds of up to $2,000,000. Each Unit will consist of one common share of the Company and one transferable common share purchase warrant (each a "Warrant"). Each Warrant shall be exercisable to acquire one additional common share for a period of twelve (12) months at an exercise price of $0.40, provided that if the closing price of the Company's shares on any stock exchange or quotation system on which the shares are then listed or quoted is equal to or greater than $0.60 for a period of 10 consecutive trading days, the Company will have the right to accelerate the expiry of the warrants by giving notice to the holders of the warrants that the warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 10 business days from the date notice is given. The Company may also pay a finder's fee in accordance with applicable securities legislation.

The Company intends to use the proceeds from this financing to pay down debt, for general working capital, and to look for possible business acquisitions, which may be in areas other than life sciences, including opportunities in including opportunities in interactive software technologies, mobile digital broadcast and interactive social media fields. The Company cautions that it has not entered into any agreements with any parties, and that there is no assurance that such agreements will be reached.

About Network Life Sciences Inc.: Network has acquired and is currently selling a core portfolio of oncology generic products for the European markets with possible expansion to other territories. The Company is commercially focused and is dedicated to serving the oncology marketplace by understanding local market dynamics and its customers unmet needs.

Further Information

Further details are available under the Company's profile on SEDAR at www.sedar.com, and the Company's profile on the CSE's website at www.cnsx.ca.

Canadian Securities Exchange (CSE): Symbol NOI

Deutsche Boerse Xetra - Frankfurt Stock Exchange: Symbol 2NY1; WKN#: A14VRA

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company including future plans for the development and sale of oncological pharmaceutical products and the ebola test kit. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Canadian Securities Exchange, consumer sentiment towards the Company's products, competition, and failure of counterparties to perform their contractual obligations. Therefore, the Company cannot provide any assurance that such forward-looking statements will materialize, including the Consolidation.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.