TORONTO, Feb. 3, 2015 (GLOBE NEWSWIRE) -- GeneNews Limited ("GeneNews" or the "Company") (TSX:GEN) is pleased to announce that 5,736,916 share purchase warrants (the "Warrants"), exercisable into 1,003,609 common shares, having an exercise price of $1.44 and expiring on February 1, 2015, have been exercised for total proceeds of $1,445,196.96. Following the exercise of these Warrants, GeneNews has 52,009,445 common shares, 4,250,903 share purchase warrants (exercisable into 743,903 common shares) and 5,310,841 options to purchase common shares outstanding.
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. In 2013, GeneNews created a U.S. joint venture, Innovative Diagnostic Laboratory, LLP ("IDL"), that it is committed to help become a leader in molecular diagnostics and personalized medicine, serving as a strong commercialization outlet for advanced cancer tests. Taking a multi-view approach to the diagnosis and treatment of cancer, IDL is working to assemble, through a combination of internal pipeline development, third-party licenses and potential acquisitions, a robust menu of novel, proprietary tests to be offered by it throughout the United States. GeneNews' common shares trade on the Toronto Stock Exchange under the symbol 'GEN'. More information on GeneNews and IDL can be found at www.GeneNews.com and www.MyInnovativeLab.com, respectively.
CONTACT: Company Contact: James R. Howard-Tripp Executive Chairman Office: (905) 209-2030 firstname.lastname@example.org Investor & Media Contact: Stephen Kilmer Kilmer Lucas Inc. Office: (212) 618-6347 Mobile: (905) 906-6908 email@example.com