GeneNews Announces Granting of Management Cease Trade Order

TORONTO, March 29, 2016 -- GeneNews Limited (“GeneNews” or the “Company”) (TSX:GEN) announced today that, further to its press releases of March 14 and March 17, 2016, it has been granted a Management Cease Trade Order (“MCTO”) by the Ontario Securities Commission. The application for the MCTO was made in respect to the expected late filing of its annual financial statements, management’s discussion and analysis, annual information form and the related officer certifications for the financial year ended December 31, 2015 (collectively, the “Annual Filings”) beyond the filing deadline of March 30, 2016. In the application, both James Howard-Tripp, Executive Chairman, and Leslie Auld, Chief Financial Officer, consented to the issuance of the MCTO and both are precluded from trading the Company’s common shares until such time as the cease trade order is no longer in effect.

The Company is continuing to work with its auditors to complete its audited financial statements and the MD&A for the year ended December 31, 2015, and currently expects completion and filing on or before May 27, 2016.

About GeneNews

GeneNews is focused on developing and commercializing proprietary molecular diagnostic tests for the early detection of diseases and personalized health management, with a primary focus on cancer-related indications. The Company's lead product, ColonSentry®, is the world's first blood test to assess an individual's current risk for colorectal cancer. GeneNews' common shares trade on the Toronto Stock Exchange under the symbol 'GEN'. More information on GeneNews can be found at www.GeneNews.com.

About IDL

Richmond, Virginia-based IDL is a national clinical reference lab specializing in personalized blood-based testing to help find, understand, and address cancer risk in patient populations. IDL’s mission is to provide a comprehensive menu of traditional and advanced clinical evidence-based blood tests that aid in early cancer detection. Currently IDL offers risk assessment blood tests for the three most prevalent cancer types including lung, colon and prostate.  IDL is actively in-licensing and commercializing an array of DNA, RNA, protein and autoantibody blood-based cancer diagnostic tests to address early detection of all major types of cancer.

Forward-Looking Statements

This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events, including the restructuring of its business. These forward-looking statements involve risks and uncertainties and material assumptions - including those related to general business and economic conditions as well as our ability to complete an orderly restructuring of the Company's operations which may include a sale, merger, strategic financing or other business combination - that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law.

Company Contact:
James R. Howard-Tripp 
Executive Chairman 
Office: (905) 209-2030 
[email protected]

Investor & Media Contact:
Stephen Kilmer
Kilmer Lucas Inc.
Office: (647) 872-4849
[email protected]