Market Overview

MetaStat Announces Completion of Second Milestone of its Pilot Research Project with Celgene Corporation

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MetaStat, Inc. (OTCQB:MTST), a personalized medicine company
developing therapeutic and diagnostic treatment solutions for cancer
patients, announced today it has completed the second milestone under
its pilot research project with Celgene Corporation. To date, MetaStat
has received aggregate milestone payments of approximately $730,000 from
Celgene pursuant to the terms of the pilot materials transfer agreement.

"We are very pleased to have successfully completed the second milestone
and are now working on the next phase of the Celgene pilot research
project," stated Douglas A. Hamilton, MetaStat's President, CEO and
Director.

About MetaStat, Inc.

MetaStat is a biotechnology company focused on discovering and
developing personalized therapeutic and diagnostic treatment solutions
for cancer patients. Our Mena isoform "driver-based" diagnostic
biomarkers also serve as novel therapeutic targets for anti-metastatic
drugs. MetaStat is developing therapeutic product candidates and paired
companion diagnostics based on a novel approach that makes the Mena
isoform protein a drugable target. Our core expertise includes an
understanding of the mechanisms and pathways that drive tumor cell
invasion and metastasis, as well as drug resistance to certain targeted
therapies and cytotoxic chemotherapies. MetaStat is based in Boston, MA.

Forward-Looking Statements

This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. You
are cautioned that such statements are subject to a multitude of risks
and uncertainties that could cause future circumstances, events or
results to differ materially from those projected in the forward-looking
statements as a result of various factors and other risks, including
those set forth in the company's Form 10-K and its other filings filed
with the Securities and Exchange Commission. You should consider these
factors in evaluating the forward-looking statements included herein,
and not place undue reliance on such statements. The forward-looking
statements in this release are made as of the date hereof and the
company undertakes no obligation to update such statements.

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