Dr. Elliot Goldstein reports

AMORFIX LIFE SCIENCES, SOON TO BE RENAMED PROMIS NEUROSCIENCES, ANNOUNCES CLOSING OF THE FIRST TRANCHE OF THE PRIVATE PLACEMENT OFFERING ANNOUNCED MAY 22, 2015, WITH AN EXTENSION FOR FURTHER SUBSCRIPTIONS UNTIL JULY 29TH

Amorfix Life Sciences Ltd. has closed the first tranche of the non-brokered private placement announced May 22 and approved at the company's annual and special shareholder meeting of June 29. Pursuant to the closing of the offering, 50,044,050 common shares of Amorfix at three cents per share were issued for gross proceeds of $1,501,321.50.

Having exceeded the required minimum of $1.5-million and given the continuing interest in this offering, the opportunity to subscribe to up to a maximum of $2.5-million has been extended until July 29, 2015.

With the financing available from the offering, the company will focus its efforts on bringing the power of precision medicine to conquering Alzheimer's disease.

As approved at the company's annual and special general meeting of June 29 and to highlight this new focus, the company will be renamed ProMIS Neurosciences Inc., with effect on or about July 8.

In connection with the offering, Amorfix may pay to a finder a cash commission of up to 7 per cent of the gross proceeds of the subscription amounts received from such finder's subscribers.

All securities issued in connection with the offering are subject to a four-month hold period from the date of issuance in accordance with applicable securities law.

The company also reports that it has granted, effective today, 4,729,300 stock options to each of its three senior executives, Eugene Williams (executive chairman), Dr. Elliot Goldstein (president and chief executive officer) and Dr. Neil Cashman (chief scientific officer). All stock options are exercisable at 4.05 cents per share and expire in 10 years, with 25 per cent of the options vesting immediately and the remaining vesting in equal monthly instalments over 36 months.

We seek Safe Harbor.