Mr. Brian Kalish reports

GEMOSCAN CANADA, INC. ANNOUNCES OPTION GRANTS, SHARES FOR DEBT SETTLEMENT & SHARES FOR SERVICE SETTLEMENT

Subject to regulatory approval, Gemoscan Canada Inc.'s board of directors has approved, effective Jan. 16, 2015, the grant of an aggregate of 690,000 stock options to directors, officers and employees of the corporation. The options are exercisable into Class A shares of Gemoscan at an exercise price of five cents per share. The options all vest immediately and have a five-year term to expiry.

Shares for debt

The company also wishes to announce that it has entered into a shares-for-debt agreement totalling $15,000, with a non-arm's-length party with regard to outstanding management fees and proposes to settle the debt through the issuance of 300,000 Class A shares of the Gemoscan at a deemed price of five cents per share, subject to final acceptance by the TSX Venture Exchange. The Class A shares will be subject to a statutory four-month-plus-one-day hold period from Jan. 16, 2015.

This shares-for-debt settlement, and subsequent issuance of the Class A shares, will not create a new control person.

Shares for service

Gemoscan also wishes to announce its intention to issue shares for services to a consultant in exchange for the provision of advisory services related to clinic sales and marketing.

Gemoscan has entered into an agreement with a consultant to provide the advisory services. Pursuant to the terms of the agreement, Gemoscan will remunerate the consultant for the provision of the advisory services by issuing the consultant 130,000 Class A shares in the capital of the company at a deemed price of five cents per share. The issuance of the Class A shares will be effective Jan. 9, 2015.

The provisions of the agreement are subject to approval by the TSX Venture Exchange and to compliance with all applicable regulatory requirements and any applicable hold periods.

We seek Safe Harbor.