GeneNews to Hold Shareholder Meeting

GeneNews to Hold Shareholder Meeting

TORONTO, Jan. 16, 2013 (GLOBE NEWSWIRE) -- GeneNews Limited (TSX:GEN)
("GeneNews" or the "Company") today announced an extension to the term of
certain share purchase warrants (the "Warrants"), subject to the approval of a
majority of disinterested shareholders at a special meeting (including any
adjournments or postponements thereof, the "Meeting") to be held at the
offices of Fasken Martineau DuMoulin LLP at 333 Bay Street, Suite 2400, Bay
Adelaide Centre, Toronto, ON M5H 2T6, Canada on Friday, February 22, 2013, at
10:00 a.m. (Eastern time). The expiry date of the Warrants would be extended
as follows:

  *2,978,065 Warrants amended and restated on January 16, 2012, exercisable
    into 521,161 Common Shares, having an exercise price of $1.44 per Common
    Share and expiring February 1, 2013 (the "2012 Warrants") would be
    extended to February 1, 2015 effective January 31, 2013;
    
  *12,752,208 Warrants dated June 8, 2011, exercisable into 2,231,636 Common
    Shares, having an exercise price of $1.44 per Common Share and expiring
    February 1, 2013 (together with the 2012 Warrants, the "February
    Warrants") would be extended to February 1, 2015 effective January 31,
    2013; and
    
  *4,250,903 Warrants dated November 12, 2010, exercisable into 743,908
    Common Shares, having an exercise price of $1.44 per Common Share and
    expiring on June 1, 2013 (the "June Warrants") would be extended to June
    1, 2015 effective the date of the Meeting.

All other provisions of the Warrants will remain the same.Full exercise of
the Warrants would result in 3,496,705 Common Shares to be issued,
representing 10.4% of the Corporation's currently issued and outstanding
33,744,883 Common Shares.Insiders of GeneNews hold an aggregate of 8,648,872
Warrants, which represent 43.3% of the 19,981,176 Warrants being amended. Of
the Warrants held by insiders of GeneNews, Rory Riggs (Director and Chair of
the Board of GeneNews) holds 3,813,956 Warrants and AWM Investment Company,
Inc. (employer of David Sable, who is a Director of GeneNews) holds 4,834,916
Warrants.

Between February 1, 2013 and the date of the Meeting, no February Warrants may
be exercised. If the requisite shareholder approval is not received, the
February Warrants will terminate as at the date of the Meeting and the June
Warrants will terminate on June 1, 2013.

About GeneNews

GeneNews is a molecular diagnostics company focused on the application of
functional genomics to enable early diagnosis and personalized health
management based on disease specific biomarkers. The Company has a patented
core platform technology, the Sentinel Principle®, which has the power to
detect and stage virtually any disease or medical condition from a simple
blood sample. GeneNews is currently applying the Sentinel Principle® in major
areas with unmet clinical needs such as cancer, arthritis, cardiovascular
disease and neurological disorders. GeneNews' lead product, ColonSentry™, is
the world's first blood test to pre-screen and assess an individual's current
risk for colorectal cancer. For more information on GeneNews and ColonSentry™,
go to www.GeneNews.com or www.ColonSentry.com.

Forward-Looking Statements

This press release contains forward-looking statements, which reflect
GeneNews' current expectations regarding the future extension of the warrants
of GeneNews. The forward-looking statements involve risks and uncertainties,
including the result of the disinterested shareholder vote to extend the
Warrants. Actual events could differ materially from those projected
herein.Investors should consult the Company's ongoing quarterly filings,
annual information form 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. Subject to
applicable law, the Company disclaims any obligation to update these
forward-looking statements.

CONTACT: Company Contact:
         Gailina Liew
         President & COO
         Office: (905) 739-2036
         Mobile: (416) 844-0649
         gliew@genenews.com
        
         Investor & Media Contact:
         Stephen Kilmer
         Kilmer Lucas Inc.
         Office: (212) 618-6347
         Mobile: (905) 906-6908
         stephen@kilmerlucas.com
 
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