Mr. Farrah Dean reports

BRIACELL ANNOUNCES PROPOSED PUBLIC OFFERING IN THE UNITED STATES AND LISTING ON NASDAQ

Briacell Therapeutics Corp. has commenced an underwritten public offering of its securities in the United States. A registration statement relating to the securities subject to the offering has been filed with the United States Securities and Exchange Commission under the Securities Act of 1933, as amended, but has not yet become effective. The offering is subject to market and other conditions, including the effectiveness of the registration statement, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The registration statement currently contemplates that the company expects to offer up to $12.5-million (U.S.) of common units; however, the aggregate amount of securities offered and issued if and when the terms of the offering are finalized could be a greater or lesser amount. Each common unit consists of one common share and one warrant entitling the holder to purchase one common share at an exercise price equal to 125 per cent of the public offering price of the common units, expiring five years from the date of issuance. In lieu of common units, certain purchasers may purchase units consisting of prefinanced warrants to purchase one common share at an exercise price of one U.S. cent per share (such units to be offered at the offering price of the common units, less one U.S. cent) and one unit warrant.

In addition, Briacell intends to grant the underwriters a 45-day option to purchase additional common shares and/or prefinanced warrants, representing 15 per cent of the common shares and prefinanced warrants sold in the offering and/or up to additional unit warrants, representing 15 per cent of the unit warrants sold in the offering. All of the securities to be sold in the proposed offering will be sold by the company.

ThinkEquity, a division of Fordham Financial Management Inc., is acting as sole bookrunning manager for the offering.

The company has applied to list its common shares and the unit warrants on the Nasdaq Stock Market. No assurance can be given that the application will be approved. If Nasdaq does not approve the listing of the company's common shares and unit warrants, the company will not proceed with the offering. The offering is subject to the approval of the TSX Venture Exchange.

No securities will be offered or sold in Canada as part of the offering.

A registration statement on Form F-1 relating to the offering has been filed with the SEC but has not yet become effective. The securities to be registered may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement becomes effective. The proposed offering will be made only by means of a prospectus outside of Canada.