Mr. Thomas O'Shaughnessy reports

ONCO-INNOVATIONS ANNOUNCES PRIVATE PLACEMENT

Onco-Innovations Ltd. intends to complete a non-brokered private placement of up to 2,272,727 units of the company at a price of 88 cents per unit for aggregate gross proceeds of up to $2-million. Each unit shall consist of one common share and one-half of one common share purchase warrant, with each warrant entitling the holder to purchase one share at an exercise price of $1.10 for a period of 36 months.

The company also intends to issue shares equal to 1.0 per cent of the total of shares issued in the private placement to an arm's-length third party as an administrative fee for its assistance with the private placement.

In connection with the private placement, the company may pay finders' fees and/or issue finders' warrants on the same terms as the warrants to eligible parties which have assisted by introducing subscribers to the private placement.

Closing of the private placement is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals. All securities issued pursuant to the private placement will be subject to a hold period of four months and one day pursuant to applicable securities laws. The company intends to use the proceeds of the private placement for general corporate and working capital purposes, including in pursuit of the company's operational and research and development objectives and for investor relations purposes.

About Onco-Innovations Ltd.

Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco's mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The company has secured an exclusive worldwide licence to patented technology that targets solid tumours.

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