Merger Update


Guy Cook, CEO Lattice Biologics, Inc & Cheryl Farmer, CPA, CFO, Lattice Biologics Inc.September 25, 2015 – Lattice Biologics Inc. (“Lattice”) is pleased to announce that Blackstone Ventures Inc. (“Blackstone”) (TSX‐V: BLV), a company listed on the TSX Venture Exchange, has completed its material due diligence in respect of its proposed acquisition (the “Transaction”) of Lattice previously announced in Lattice’s August 13, 2015 news release.

In connection with the Transaction, Blackstone completed the first of two consolidations (the first consolidation being a 20:1 consolidation of Blackstone) and is continuing its efforts to settle outstanding debt through the issuance of securities.

Subject to the approval of the TSX Venture Exchange, Blackstone intends to advance a portion of the funds raised in connection with the Transaction to Lattice as an unsecured, working capital loan until completion of the Transaction. The amount of the advance has not yet been determined. If the Transaction is terminated for any reason, the loan will bear interest at a rate of 8% per annum and will mature and become payable 90 days after the termination of the Transaction.

Closing of the Transaction is subject to a number of conditions, including Blackstone raising a minimum of CAD$1,100,000; both parties formally removing their due diligence condition precedents; the entering into a definitive agreement in respect of the Transaction; receipt of all required shareholder, regulatory and third party approvals, including stock exchange approval; and satisfaction of other customary closing conditions. The Transaction cannot close until the required approvals are obtained. There can be no assurance that the Transaction will be completed as proposed or at all.

Lattice Biologics Inc.

Guy Cook
Chief Executive Officer

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “continuing”, “intends” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information including: the second consolidation of Blackstone; the settlement of outstanding debt by Blackstone; the advance of funds to Lattice; and the terms of the loan. Although Lattice believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

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Media Contact: Melanie Battista, Public Relations, Lattice Biologics Inc., 16701 N 90th Street, Suite #101, Scottsdale, AZ 85260, 480-563-0800 Office, |

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