Mr. Roger Dumoulin-White reports

THERALASE PROVIDES CLARIFICATION REGARDING CERTAIN FORWARD-LOOKING INFORMATION

Theralase Technologies Inc. wishes to provide clarification with respect to certain forward-looking information included in an interview with the corporation's president and chief executive officer posted on-line on Feb. 18, 2016.

Such forward-looking information included statements with respect to projected sales of up to $10-million for fiscal year 2016, as well as certain other long-term projections. Such information constitutes forward-looking information within the meaning of National Instrument 51-102, continuous disclosure, and was subject to certain underlying assumptions including:

• Ability to ramp up manufacture of the TLC-2000 to commercial production levels;
• Ability to optimize the software for ease of use and functionality;
• Ability to execute on a strategic marketing strategy, which introduced and positioned the TLC-2000 in relation to legacy and competitive products;
• Ability to recruit, train and retain an experienced sales force to levels required to attain projected sales growth;
• Ability to attract key opinion leaders to utilize the TLC-2000 to provide support for the widespread implementation of the technology.

Such information was based on management's expectation at the time such statements were made, which expectations were subject to significant risks and uncertainties that are difficult to predict, including those risks and uncertainties contained in filings made by the corporation with the Canadian securities regulators (which filings are available on SEDAR). Actual results might differ materially from results suggested in any forward-looking statements. The corporation will update any such forward-looking information as required by applicable law.

As at June 30, 2016, the corporation had recorded gross sales of $893,138. While the corporation's sales revenue is cyclical (with greater sales volumes being historically recognized in the fourth quarter), the corporation does not expect, at this time, to meet the initial projections discussed above.

Slower than expected sales growth of the TLC-2000 to date has been due in part to the time required to:

• Ramp up to commercial production levels;
• Optimize the software for ease of use and functionality;
• Execute on its strategic marketing strategy;
• Recruit, train and retain an experienced sales force;
• Introduce the technology to key opinion leaders and secure their support of the technology.

Further information regarding actual sales revenues will be included, as applicable, in the corporation's financial statements for the periods ended Sept. 30, 2016, and Dec. 31, 2016, and the related management's discussion and analysis.

In addition, the corporation has previously engaged Zacks Small-Cap Research to prepare an analyst report. A copy of the report dated June 6, 2016, was posted on-line on June 13, 2016, and has also been made available on the corporation's website. The corporation confirms that, as disclosed in the report, Zacks was paid certain compensation in connection with its engagement by the corporation to provide certain non-investment banking services (which services included the preparation of the report); however, as noted in the report, the report reflects the views and conclusions of Zacks, and the corporation was not involved in the preparation of the report.

The clarifying information in this press release is being provided in compliance with a review by staff of the Ontario Securities Commission.

About Theralase Technologies

Theralase Technologies in its therapeutic laser technology division designs, manufactures, markets and distributes patented superpulsed laser technology indicated for the elimination of pain, reduction of inflammation and acceleration of tissue healing for numerous nerve, muscle and joint conditions. Theralase's photodynamic therapy division researches and develops specially designed molecules called photodynamic compounds, which localize to cancer cells and then, when laser light activated, effectively destroy them.

We seek Safe Harbor.