Sernova Receives Approval to Extend Term of Warrants

LONDON, ONTARIO--(Marketwired - May 5, 2017) - Sernova Corp. (TSX VENTURE:SVA)(OTCQB:SEOVF)(FRANKFURT:PSH), a clinical stage regenerative medicine company, is pleased to announce that it has received TSX Venture Exchange acceptance, to extend the expiry date of 5,745,633 share purchase warrants that are exercisable to purchase up to 5,745,633 common shares of Sernova at an exercise price of $0.30 per share, from May 8, 2017 to November 8, 2017. The Company also obtained approval from the TSX Venture Exchange to extend the expiry date of 3,043,256 share purchase warrants that are exercisable to purchase up to 3,043,256 common shares of Sernova at an exercise price of $0.30 per share, from May 14, 2017 to November 14, 2017.

All other terms of the Warrants will remain unchanged, including the exercise period, as extended, being subject to abridgement on 30 days notice to holders in the event that the twenty-day volume weighted price of the Company's shares exceeds $0.50.

About Sernova

Sernova Corp. is a clinical stage regenerative medicine Company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch™, an implantable medical device and therapeutic cells (donor, xenogeneic or stem cell derived therapeutic cells) which then release proteins and/or hormones as required.

Forward Looking Information

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements, which include our beliefs about the functionality of the Cell Pouch and our cell technologies, are based on the beliefs, estimates and opinions of Sernova's management on the date such statements were made. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither the 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.