Mr. Anthony Businskas reports

SPECTRAL ANNOUNCES CLOSING OF CDN$6.1 MILLION OFFERING

Spectral Medical Inc. today completed its previously announced offering of 11,049,464 common shares at a price of 55.3 cents per share for net proceeds of $6,110,353.

Under the offering, Toray Industries Inc. acquired 9,041,592 shares, and Birch Hill Equity Partners IV LP, Birch Hill Equity Partners (U.S.) IV LP and Birch Hill Equity Partners (Entrepreneurs) IV LP acquired an aggregate of 2,007,872 shares.

"We very much appreciate the continued support of our major shareholders," stated Anthony Businskas, executive vice-president and chief financial officer of Spectral. "With approximately $14-million cash available after this closing, the company is well positioned to fund its operations as it moves closer to achieving its goal of potential commercialization by as early as the first half of 2016, pending FDA approval of its unique treatment for septic shock," continued Mr. Businskas.

The company intends to use the net proceeds of the offering to finance its Euphrates clinical trial for Toraymyxin, its lead product candidate for the treatment of septic shock, and for working capital and general corporate purposes.

We seek Safe Harbor.