IRVINE, CA--(Marketwired - Jun 7, 2017) - Inolife Technologies Inc. (OTC PINK: INOL) ("Inolife" or the "Company"), a specialty biopharmaceutical company and emerging leader in needle-free injection devices, announced today that it is proceeding with a non-brokered private placement of unsecured convertible promissory notes (the "Notes"), for gross proceeds of up to US$3 million (the "Private Placement").

The Notes will bear interest at a rate of 8%, payable annually in arrears, are non-transferable and have a term of 12 months from the date of issue. Principal under the Notes will be convertible by lenders into, and payable by the Company in, common shares of the Company at a conversion price of US$1.00 per common share. Accrued but unpaid interest on the Notes will be convertible by lender into, and payable by the Company in, common shares at a price per common share equal to the most recent closing price of the Company's common shares prior to the delivery to the Company of a request to convert interest, or the annual due date of interest, as applicable.

The closing of the Private Placement is expected to take place on or about June 30, 2017.

"This fundraising is intended to bridge our financial requirements and enable us to immediately launch our sales and marketing efforts for our Inojex30 needle free injector for insulin and other drugs," said Mr. Michael Wright, CEO of Inolife. "The early interest in our products from distributors and end-users has been overwhelming, and we are eager to begin fulfilling pending purchase orders."

As previously reported, Inolife has engaged Maxim Group LLC ("Maxim Group"), a leading full-service investment banking, securities and wealth management firm headquartered in New York, to provide it with strategic corporate planning and investment banking services. Pursuant to Financial Industry Regulatory Authority ("FINRA") regulations, and specifically as FINRA's rules pertain to compensation and ownership, Maxim Group, which is a significant shareholder of the Company, will not serve as a placement agent for this offering.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. These securities have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a U.S. person or person in the United States absent such registration or an applicable exemption from such registration requirements. United States and U.S. person are as defined in Regulation S under the U.S. Securities Act.

About Inolife Technologies Inc.

Based in Irvine, CA, Inolife is a specialty biopharmaceutical company and an emerging leader in needle-free injection technologies and other drug delivery systems. The Company has commercialized a patented and FDA-approved needle-free injection device under the trademark Inojex30. Inolife is also developing a series of "next generation" needle-free drug delivery devices and technologies for use in various applications, including vaccines, diabetes, infertility, pain, erectile dysfunction, anemia, and autoimmune diseases. Inolife's Inojex30 product and Administration Kit is available online at and through a growing network of distributors globally.

Forward-Looking Statements:

This press release contains "forward-looking statements." Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission and or OTC Markets Inc., including the risk factors that attempt to advise interested parties of the risks that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contact Information:

Stephen Kilmer
Investor Relations
Phone: 1-888-545-6374