TORONTO, ONTARIO--(Marketwired - April 28, 2017) -

Not for distribution in the United States or through United States wire services.

Microbix Biosystems Inc. (TSX:MBX), an innovator of biological products and technologies, announced today it has negotiated an extension of its principal amount of the $500,000 non-convertible debenture set to mature on April 30, 2017. The arms' length debenture holder has agreed to extend the maturity date of the debenture to April 30, 2022 in exchange for amendments to an aggregate of 300,000 common share purchase warrants (the "Warrants") held by the debenture holder.

Each Warrant currently entitles the holder to purchase one common share of Microbix at a price of $0.55 until August 21, 2019. Microbix has applied to the TSX to extend the term of the Warrants to August 21, 2022 and to amend the exercise price of the Warrants to $0.25 per share. The amendments to the terms of the Warrants are subject to TSX approval.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

About Microbix Biosystems

Microbix Biosystems Inc. specializes in the research, development, marketing and distribution of biological solutions. This includes products for human health applications in the vaccine, therapeutic and diagnostic markets, in addition to a product for the worldwide animal reproduction market. In its revenue generating business, the Company manufactures and distributes a wide range of infectious disease antigens to a worldwide customer base. The Company is also developing a pipeline of innovative technologies and product candidates, including LumiSort semen sexing technology for the livestock industries and Kinlytic, a thrombolytic drug with several approved and potential applications, including the treatment of life-threatening blood clots. Established in 1988, Microbix is a publicly traded company, listed on the Toronto Stock Exchange, and headquartered in Mississauga, Ontario.

Forward-Looking Information

This news release includes "forward-looking information," as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the risks associated with its revenue business, development projects, operations in foreign jurisdictions, engineering and construction generally, production (including control over costs, quality, quantity and timeliness of delivery of products), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company's judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

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Contact Information:

Microbix Biosystems Inc.
Vaughn C. Embro-Pantalony
(905) 361-8910 x 350

Microbix Biosystems Inc.
Jim Currie
(905) 361-8910 x 255

Microbix Biosystems Inc.
Stephen Kilmer
Investor Relations
(647) 872-4849