Management Cease Trade Order Update

HALIFAX, Nova Scotia, Dec. 11, 2018 (GLOBE NEWSWIRE) — MedMira Inc. (TSXV: MIR) (“MedMira” or the “Company”) provides an update with respect to the previously announced management cease trade order (the “MCTO”) issued by the Nova Scotia Securities Commission on November 29, 2018.  The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended July 31, 2018 (collectively, the “Annual Filings”) beyond the required filing deadline under Parts 4 and 5 of National Instrument 51-102 Continuous Disclosure Obligations and pursuant to National Instrument 52-109 Certification of Disclosure in Issuer’s Annual and Interim Filings, being November 30, 2018.

The Company continues to work closely with its auditor and expects to file the Annual Filings before February 28, 2019. The Company does not anticipate any delay in filing its quarterly financial statements, management’s discussion and analysis, and the related officer certifications for the first financial quarter FY2019.

The Company is providing this status update in accordance with National Policy 12-203 Management Cease Trade Orders (“NP 12-203”). The Company intends to follow the provisions of the Alternative Information Guidelines set out in NP 12-203, including the issuance of bi-weekly default status reports in the form of news releases, for as long as the Company remains in default. The Company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on November 29, 2018 and there is no other material information concerning the affairs of the Company that has not been generally disclosed.

The Company has not received any financing from any related party at this time.

About MedMira           

MedMira is the developer and owner of Rapid Vertical Flow (RVF) Technology™. The Company’s rapid test applications built on RVF Technology provide hospitals, labs, clinics and individuals with instant diagnosis for diseases such as HIV and hepatitis C in just three easy steps. The Company’s tests are sold under the Reveal, Multiplo and Miriad brands in global markets. MedMira’s corporate offices and manufacturing facilities are located in Halifax, Nova Scotia, Canada and the Company has a sales and customer service office located in the United States. For more information visit medmira.com.  Follow us on Twitter and LinkedIn.

This news release contains forward‐looking statements, which involve risk and uncertainties and reflect the Company’s current expectation regarding future events including statements regarding the Company’s intention to seek a management cease trade order.  Actual events could materially differ from those projected herein and depend on a number of factors including, but not limited to, the exercise of discretion by the Nova Scotia Securities Commission with respect to the application for a management cease trade order.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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