HemaGenetics Technologies Cancels Effective Date for Arrangement with 1208616 B.C. LTD.

VANCOUVER, BC / ACCESSWIRE / March 9, 2020 / HemaGenetics Technologies Corp. (the "Company"), due to ongoing public market turmoil and business uncertainty, has cancelled the previously scheduled effective date of Tuesday, March 10, 2020, for the share distribution under the plan of arrangement with 1208616 B.C. Ltd. ("616BC"). The Company will provide another shareholder update and setting of a new effective date for the 616BC distribution once some normalcy returns to the public markets and 616BC can move forward with its business plans with a greater level of certainty.

For further information please contact:

J. Scott Munro, CEO and Director
Hemagenetics Technologies Corp.
E-mail: pubcosrvc@outlook.com

Cautionary Note Regarding Forward Looking Information

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as the statement that: (i) the Arrangement may be effected or final court order for the same obtained; and (ii) shareholders may receive 100% of the shares of each of the other parties to the Arrangement under the Arrangement Agreement, subject to such conversion factors as may be applicable pursuant to the Arrangement. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information, including: (i) the inability to complete the Arrangement; and (ii) other factors beyond the Company's control. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change, except those otherwise required under paragraph 5.8(2) of NI 51-102, whether written or oral that may be made by or on the Company's behalf.

SOURCE: HemaGenetics Technologies Corp.

ReleaseID: 579833