Dr. Shimon Gross reports

DIAGNOSTEAR TECHNOLOGIES INC. ANNOUNCES PRIVATE PLACEMENT OF UNITS

Diagnostear Technologies Inc. will be proceeding with a non-brokered private placement of up to 2.8 million units at a price of 50 cents per unit for aggregate gross proceeds of up to $1.4-million. The company expects BioLight Life Sciences Ltd., parent company of Diagnostear, and Elcam Medical Ltd. to each participate for up to one-third of the total offering.

Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will be exercisable to purchase one common share at an exercise price of $1.00 for a term of 12 months from the closing date of the offering.

No finders' fees will be paid in connection with this offering. The net proceeds of the offering will be used for the company's working capital and general corporate purposes.

All securities to be issued, subject to occurrence of the closing of the offering, will be subject to a statutory hold period expiring four months and one day after the issuance thereof. Closing of the offering is subject to approval of the Canadian Securities Exchange.

Certain insiders of the company may acquire units in the offering. Any participation by insiders in the offering would constitute a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). However, the company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units subscribed for by the insiders, nor the consideration for the units paid by such insiders, would exceed 25 per cent of the company's market capitalization.

About Diagnostear Technologies Inc.

Diagnostear is a leading ophthalmic company developing and commercializing disruptive diagnostic solutions for better management of eye diseases. Diagnostear's TeaRx technology is a diagnostic platform intended for rapid, point-of-care testing (POCT) of ophthalmic pathologies through multiparameter analysis of non-invasively collected tear fluid. The first CE-IVD, and Israeli MoH-approved test based on the TeaRx platform is intended for diagnosis of dry eye syndrome (DES TeaRxTM Dry Eye). This product is not Food and Drug Administration cleared yet. Beyond DES, Diagnostear is developing innovative tests based on the TeaRx platform for additional ophthalmic indications. Among others, Diagnostear's pipeline includes TeaRx Red Eye: The first test of its kind for differential assessment of adenoviral conjunctivitis, herpetic keratitis and allergic conjunctivitis.

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