Compass Biotechnologies, Inc. Confirms Appointment of Interim President

Interim President to Expand Business Operations into Audio & Entertainment Industry

SALT LAKE CITY, UT / ACCESSWIRE / June 27, 2016 / Compass Biotechnologies Inc. COBI, a cutting edge audio and entertainment company, officially confirms that Mr. Steven Smith has been named interim President and principal officer of the company. Mr. Smith has served as Compass's interim President since March of 2016.

Mr. Smith's experience ranges from being a musician, DJ, studio engineer, and music producer, to traditional audio equipment, digital audio programming and live event production. As President, Mr. Smith intends to continue utilizing his expertise and relationships to acquire, develop and expand audio and music related equipment business development channels for the company. In addition, the company is evaluating the creation and/or acquisition of a music / concert / artist-related / live event entertainment company to further expand on the previously announced targeted acquisition of the Motion Sound product line.

In line with Mr. Smith's vision for the company, an application will be filed for a name and ticker change to better encompass the company's current and future business operations.

"This is an extremely exciting time for myself and the Company. The several months of hard work and preparation which have been dedicated to this new business direction now afford the opportunity to launch our audio and entertainment divisions," said President Smith. "A new corporate name and ticker symbol will mark the beginning of the Company's new vision and commitment to deliver ongoing shareholder value. We will strive to be transparent and communicate regularly with our consumers, clients and shareholders through many different media outlets and social media channels. We have set the bar high, and our team looks forward to the challenges and opportunities ahead of us."

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.

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SOURCE: Compass Biotechnologies Inc.