VANCOUVER, BC--(Marketwired - February 14, 2017) - LexaGene Holdings
Inc. (TSX VENTURE: LXG) (the "Company"). LexaGene is pleased to announce
it intends to complete a non-brokered private placement to raise up to $2,010,000 by the issuance of 6,700,000 units at $0.30 per
unit. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to
acquire an additional common share for $0.60 per share for a three year period.
Finder's fees may be paid in accordance with regulatory policy. All shares issued in connection with the private placement are
subject to a four month hold period.
The private placement is subject to regulatory approval. Proceeds from the private placement will be used to complete alpha
prototype development as well as some additional corporate working capital.
ON BEHALF OF THE BOARD "Jack Regan"
Jack Regan, Chief Executive Officer and Director
The TSX Venture Exchange Inc. 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 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.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other
factors that may cause actual events to differ materially from current expectation. Important factors -- including the
availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure
critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues
-- that could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents
filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak
only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by
law, to update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise.