Service Provider Confidence Soars in the Wake of Continued Investor Contributions, Slashed Debts, and New Hospital Vendor
Agreements
SCOTTSDALE, AZ--(Marketwired - October 11, 2016) -
NOT FOR DISSEMINATION IN THE US OR THROUGH US NEWSWIRE SERVICES
Lattice Biologics Ltd. (TSX VENTURE: LBL) (OTCBB:
BLVKF) ("Lattice Biologics" or the "Company") is pleased to announce that it has issued
505,948 common shares of the Company (the "Shares") to two individuals as compensation for certain services
rendered to the Company during July through September of 2016.
The Shares were issued pursuant to the terms of the Shares for Services Agreements (announced August 8, 2016) at a deemed price of Can$0.20. The number of Shares was determined by using the volume
weighted average price of the Company's common shares on the TSXV for the five business days prior to submission to the TSXV for
approval of the issuance.
The Shares will be subject to a four-month resale restriction.
As with the debt-to-equity conversion announced on August 10, 2016, this transaction also demonstrates the high level of confidence exhibited by service
providers working closely with the Company. This transaction follows the announcements of recent investor contributions on
September 15, 2016, the elimination of Can$1.8 million in debt on September 13, 2016, and a new vendor approval status on September 6, 2016, that gives the Company access to an additional 39 hospitals.
Lattice Biologics Ltd.
Guy Cook,
Chief Executive Officer
Telephone No: (480) 563-0800
About Lattice Biologics Ltd.:
Lattice Biologics recently completed its RTO, becoming a publically traded company on January 4, 2016 and is traded on the
TSX-V under the symbol: LBL. The Company is an emerging personalized/precision medicine leader in the field of cellular therapies
and tissue engineering, with a focus on bone, skin, and cartilage regeneration.
Lattice Biologics develops and manufactures biologic products to domestic and international markets. Lattice's products are
used in a variety of surgical applications.
Lattice Biologics maintains its headquarters, laboratory and manufacturing facilities in Scottsdale, Arizona as well as
offices in Toronto Ontario. The facility includes ISO Class 1000 and ISO Class 100 clean rooms, and specialized equipment capable
of crafting traditional allografts and precision specialty allografts for various clinical applications. The Lattice Biologics
team includes highly trained tissue bank specialists, surgical technicians, certified sterile processing and distribution
technicians, and CNC operators who maintain the highest standards of aseptic technique throughout each step of the manufacturing
process. From donor acceptance to the final packaging and distribution of finished allografts, Lattice is committed to
maintaining the highest standards of allograft quality, innovation, and customer satisfaction.
Lattice Biologics maintains all necessary licensures to process and sell its tissue engineered products within the U.S. and
internationally. This includes Certificates to Foreign Governments from the U.S. Food and Drug Administration (FDA) and
registrations for 29 countries, which allow the export of bone, tendon, meniscus, ligament, soft tissue, and cartilage products
outside of the U.S.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement on Forward-Looking Information:
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the
'safe harbour' provisions of Canadian securities laws. All statements herein, other than statements of historical fact, are to be
considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology
such as "potential", "future", "expected", "could", "possible", "goal", "intends", "will" or similar expressions. Forward-looking
statements in this news release include, without limitation: information pertaining to the Company's strategy, plans, or future
financial performance, such as statements with respect to future revenues or products, and other statements that express
management's expectations or estimates of future performance. Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lattice to
be materially different from those expressed or implied by such forward-looking statements.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered
reasonable by management as of the date such statements are made, are inherently subject to significant business, economic and
competitive uncertainties and contingencies. The factors and assumptions that could prove to be incorrect, include, but are not
limited to: that market prices will be consistent with expectations, the continued availability of capital and financing, and
that general economic, market and business conditions will be consistent with expectations. The forward-looking statements are
not guarantees of future performance. We disclaim any obligation to update or revise any forward-looking statements, except as
required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
United States Advisory: The securities referred to herein have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered, sold, or resold in the United States or
to, or for the account of or benefit of, a U.S. Person (as such term is defined in Regulation S under the U.S. Securities Act)
unless an exemption from the registration requirements of the U.S. Securities Act is available. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in
the state in the United States in which such offer, solicitation or sale would be unlawful.
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