Vivione Biosciences Inc.
TSX VENTURE : VBI

Vivione Biosciences Inc.

October 08, 2014 08:30 ET

Vivione Biosciences Inc. Announces Stock Option Grant and Clarification on Warrant Extension

DALLAS, TEXAS--(Marketwired - Oct. 8, 2014) - Vivione Biosciences Inc. ("Vivione" or the "Company") (TSX VENTURE:VBI), announces that options to purchase 880,000 common shares of the Company were granted today to an officer of the Company with an exercise price of $0.25 per share, expiring ten years from the date of grant and with one-third of such options vesting immediately and on each of the first and second year anniversary from the date of grant.

The Company also wishes to also address a clerical error in the press release dated October 7, 2014, which disclosed the amended expiry date of the 12,000,000 common share purchase warrants (the "Warrants") issued to subscribers as part of the Company's prospectus financing which closed on April 19, 2013. The amended expiry date of the Warrants was incorrectly disclosed in this press release as October 14, 2015, however the correct amended expiry date is October 19, 2015. As previously disclosed, all other terms of the Warrants will remain the same and the Company will deliver a Notice of Amendment reflecting the amended expiry date to the registered holders of the Warrants.

About Vivione

Formed in 2006 in collaboration with the FDA, Vivione is a TSX Venture Exchange listed biosciences company focused on the commercialization of its proprietary RAPID-B system; an integrated system of hardware, software and chemical reagents that quickly and accurately identify, quantify and qualify bacteria and other pathogens in food safety, bio-therapeutics, clinical, industrial and oil & gas environments. For more information, visit www.VivioneBiosciences.com.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although Vivione believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to Vivione. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. This news release contains forward-looking information relating to the commercialization and the development of the RAPID-B system and Vivione's business and growth. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this news release are made as of the date of this news release and, except as required by applicable law, Vivione does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. Vivione undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Vivione, or its financial or operating results or (as applicable), their securities.

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.

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