Pacgen Announces Private Placement Financing and Appointment of New Director

Pacgen Announces Private Placement Financing and Appointment of New Director

VANCOUVER, British Columbia,  Jan. 11,  2018 (GLOBE NEWSWIRE)  -- Pacgen  Life 
Science Corporation (“Pacgen”  or the “Company”)  (TSX-V:PBS) announced  today 
that it has  completed a  non-brokered private placement  of 12,300,000  units 
(“Units”) at a  subscription price  of $0.06 per  Unit for  gross proceeds  of 
$738,000.  Proceeds  from the  private  placement will  be used  for  business 
development and  general  corporate purposes.  The  TSX Venture  Exchange  has 
conditionally approved  the  private  placement, subject  to  satisfaction  of 
customary requirements.

Each Unit consists of one common share of Pacgen and one common share purchase
warrant.  Each  warrant  will  entitle  the  holder  thereof  to  acquire  one 
additional common share at a price of $0.06 for a period of two years from the
closing date.  All Units issued pursuant to the private placement are  subject 
to a four-month hold period following closing.

As members of Pacgen’s  Board of Directors  directly or indirectly  subscribed 
for $293,000 of the Units offered under the private placement, the issuance of
the Units is  considered a related  party transaction subject  to TSX  Venture 
Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”).   Pacgen 
relied on  exemptions  from  the formal  valuation  and  minority  shareholder 
approval requirements provided  under MI  61-101 on  the basis  that the  fair 
market value of the Units issued to  insiders does not exceed 25% of the  fair 
market value of Pacgen’s market capitalization. 

Pacgen also announced that Dr. Rakesh Arya has been appointed to its Board  of 
Directors.  Dr.  Arya brings  to  Pacgen over  twenty-five years  of  business 
management experience gained primarily in  the dentistry field.  As a  dentist 
and an entrepreneur,  he has built  a keen interest  in business  development, 
innovation, and management.  Dr. Arya currently  serves as the principal of  a 
high-tech dentistry clinic based in Canada.   Coming from a family of  medical 
professionals, Dr. Arya has practiced dentistry  since 1990 and served in  the 
communities of different countries before setting down in Canada.  He is  well 
connected to medical and pharmacy professions in North America and  South-East 
Asia.  Dr. Arya holds a Dentistry Degree from University of Toronto, Canada, a
Master Degree in  Hospital Management  from Chennai University,  India, and  a 
Master Degree in Dentistry (Orthodontics)  from Government Dental College  and 
Hospital, India.

Dr. Arya  subscribed  for  5,000,000  of  the  Units  issued  in  the  private 
placement.  Following  completion  of the  private  placement, Dr.  Arya  owns 
5,000,000 common  shares,  representing  7.71% of  the  Company’s  issued  and 
outstanding common shares, and 5,000,000  common share purchase warrants.   If 
these warrants are exercised, and assuming no other warrant holders or  option 
holders exercise their securities, Dr. Arya will hold 14.32% of the  Company’s 
common shares.

Christina Yip, a director and officer of the Company, subscribed for 2,475,000
of the Units  issued in the  private placement.  Following  completion of  the 
private placement, Ms. Yip owns  7,144,821 common shares, representing  11.02% 
of the Company’s issued and outstanding common shares, 3,125,000 common  share 
purchase warrants,  and  775,000  incentive  stock options.   If  all  of  her 
warrants and options are exercised, and  assuming no other warrant holders  or 
option holders exercise  their securities,  Ms. Yip  will hold  16.07% of  the 
Company’s common shares.

About Pacgen
Pacgen is a  life sciences  company focused  on building  a global  commercial 
platform to market innovative  consumer health products  developed by SMEs  in 
North America. Currently, the Company has marketing rights to four distinctive
brands with over seventy different products in two reportable market segments,
including  oral  care  and  skin  care.  These  products  marketed  under  the 
tradenames of  P113+™,  DermaMed™,  DermaSoleil™ and  Deserving  Health™  have 
reached markets in Asia and North America.  For additional information, please
visit www.pacgenlife.com.

NEITHER THE 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.

Forward looking Statements

Certain  statements  included  in  this   press  release  may  be   considered 
forward-looking.  Pacgen disclaims  any intention or  obligation to update  or 
revise any forward-looking statements, whether as a result of new information,
future  events   or  otherwise,   except  as   required  by   law.   For   all 
forward-looking statements, Pacgen claims the safe harbour for forward-looking
statements within the meaning of the Private Securities Litigation Reform  Act 
of 1995.

For further information, please contact:
Christina Yip  
President and Chief Financial Officer
Tel: 778-389-4323
Email: christina.yip@pacgenlife.com
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