Mr. Christopher Hopton reports

SIRONA BIOCHEM ANNOUNCES CONVERTIBLE NOTE FINANCING

Sirona Biochem Corp. has arranged a non-brokered private placement of convertible notes for gross proceeds of up to $600,000. Each note will be convertible at the option of the holder into one common share of the company at a conversion price of 18 cents per share during the 18-month term of the notes.

The notes will mature in 18 months from the date of issuance and bear interest at the rate of 12 per cent per annum, payable quarterly, until the notes are converted or repaid. The company will be entitled to repay the principal amount of the notes, together with accrued and unpaid interest, at any time commencing four months after the date of issuance, subject to giving the holders prior notice thereof to permit holders to convert during the notice period. The notes are unsecured and transferable, subject to resale restrictions under applicable securities laws and TSX Venture Exchange requirements.

Sirona Biochem intends to use the net proceeds from the private placement for general working capital and to support the company's efforts to secure a licensing agreement for its skin lightening compound, TFC-1067. The company is expecting to receive a term sheet for a licensing transaction for TFC-1067 in first quarter 2017, but there can be no assurances that a licensing agreement will be entered into on terms acceptable to Sirona Biochem or at all. The company may pay fees of 7 per cent in cash to qualified finders.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months commencing from the date of issuance of the notes. Closing of the private placement is subject to customary conditions, including TSX Venture Exchange acceptance.

In addition, the company announces an extension to the term of 8,865,970 common share purchase warrants originally issued on March 6, 2014. The warrants were issued as part of a private placement. The expiry dates will be extended as follows:

Number of warrants:  8,865,970

Original expiry date of warrants:  March 6, 2017

New expiry date of warrants:  April 30, 2017

Exercise price of warrants:  20 cents

All other terms of the warrants will remain unchanged.

About Sirona Biochem Corp.

Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential. Sirona's compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and continuing royalty payments.

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