Viper Announces Conditional Acceptance for Acquisition of QuikFlo Technologies

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 14, 2015) - Viper Gold Ltd. ("Viper" or the "Company") (NEX:VPR.H) is pleased to announce that it has received the TSX Venture Exchange's (the "Exchange") conditional acceptance in respect of its previously announced (see news release dated September 1, 2015) acquisition (the "Acquisition") of the all of the issued and outstanding shares of QuikFlo Technologies Inc. ("QuikFlo").

QuikFlo is a private Alberta-based medical technology company that is developing an automated diagnostic tool which will interpret computed tomography scans of ischemic stroke patients and provide specific treatment options to attending physicians.

It is anticipated that the acquisition will be completed on or about October 30, 2015, subject to satisfaction of the Exchange's conditions.

Trading Halt

Trading in the shares of Viper has been halted and may remain halted pending the review of the Transaction by the Exchange. There can be no assurance that trading in the shares of Viper will resume prior to the completion of the Acquisition.

Further Information

For further information relating to the Acquisition, Viper, QuikFlo or the company resulting from the Acquisition, please see the Information Circular of Viper dated September 30, 2015 available at www.sedar.com under the Viper Gold Ltd. issuer profile, or contact Mr. Vinny Jindal, CEO of Viper at 604.428.0511.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval, if applicable. The transaction cannot close until the required approvals are obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular and/or Filing Statement to be prepared in connection with the transaction, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Viper should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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.

Cautionary and Forward-Looking Statements

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to completion of the Acquisition and satisfaction of the Exchange's conditions. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company, including, without limitation, the Company's ability to obtain the necessary approvals to close the proposed acquisition of QuikFlo and the concurrent financing, the suitability of the key members of ongoing management and the board of directors, the commercial opportunities available to the Company and the ability of the Company to obtain sufficient funds to commercialize a product. Although management of the Company believes that the expectations and assumptions on which such forward looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to identify and complete suitable acquisitions to further the Company's growth as well as risks associated with the Company's ability to obtain shareholder approval for the Acquisition, the biomedical and technology sectors in general such as operational risks in development, research and regulatory delays or changes in plans with respect to research projects or capital expenditures; the uncertainty of the market; the uncertainty of estimates and projections relating to costs and expenses; health, safety and environmental risks; marketing and commercialization; loss of markets; competition; incorrect assessment of the value of any technologies acquired and failure to realize the anticipated benefits of such acquisitions; ability to access sufficient capital from internal and external sources; failure to obtain required regulatory and other approvals and changes in legislation, including but not limited to tax laws, and government regulations. Accordingly, readers should not place undue reliance on the forward‐looking statements, timelines and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive.

The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.