Market Overview

MetaStat Closes First Round of a $7 Million Private Placement


MetaStat, Inc. (OTCQB:MTST), a personalized medicine company
developing therapeutic and diagnostic treatment solutions for cancer
patients, announced today it has consummated an initial closing of a
private placement of up to $7 million of its common stock. The offering
resulting in gross proceeds of approximately $2.14 million before
placement agents' fees and offering expenses was led by prominent
institutional healthcare investor, Perceptive Advisors, LLC, along with
other existing institutional and accredited investors.

The private placement consisted of an aggregate of 690,816 shares of
common stock and approximately 196,216 shares of Series A-2 convertible
preferred stock, convertible into 1,962,164 shares of common stock.
Additionally, in connection with the private placement, the company
adjusted the exercise price of 474,829 outstanding common stock purchase
warrants from $3.00 per share to $2.00 per share. MetaStat has until
July 31, 2017 to complete the private placement.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy the company's securities, nor shall
there be any sale of the company's securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification for an exemption under
the securities law of any such jurisdiction, including the registration
requirements under U.S. securities laws. The company plans to file a
Form 8-K with the U.S. Securities and Exchange Commission with more
information regarding the private placement.

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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