Market Overview

Bioasis Announces Closing of Second Tranche of Previously Disclosed Private Placement


This News Release is Not for Distribution to U.S. Newswire
Services or Dissemination in the United States

. ((TSX.V:BTI, OTCQB:BIOAF) ("Bioasis" or
the "Company"), a biopharmaceutical company developing its xB3
proprietary platform technology for the delivery of therapeutics
across the blood-brain barrier (BBB) for the treatment of CNS disorders
in areas of high unmet medical-need, including brain cancers and
neurodegenerative diseases, is pleased to announce that it has completed
a second and final tranche of its previously announced private placement
of units (the "Units") by issuing an aggregate of 1,280,000 Units
at a price of C$0.552 per Unit, for gross proceeds of C$706,560.

Between the two tranches of the private placement, Bioasis issued a
total of 5,083,298 Units for gross proceeds of C$2,805,980.49.

Each Unit consists of one common share of the Company (a "Common
") and one Common Share purchase warrant (each whole Common
Share purchase warrant, a "Warrant"). Each Warrant entitles
the registered holder to purchase one Common Share (a "Warrant Share")
at an exercise price of C$0.69 per Warrant Share for a period of 60
months from the date of closing. All shares and warrants issued pursuant
to this tranche of the private placement, and any shares issued in
connection with the exercise of warrants, will be subject to a four
month hold period expiring on Sept. 25, 2018, in accordance with the
policies of the TSXV and applicable securities laws.

Sales to U.S.-based investors were brokered through the Company's
exclusive placement agent Roth Capital Partners (the "Agent").
The total cash commission paid to the Agent in respect of the private
placement was C$64,384.29, representing 7% of the gross proceeds raised
from sales to U.S.-based investors.

As previously disclosed, the net proceeds from the Private Placement
will be used to fund further research and development, clinical
development, manufacturing and other activities in respect of the
Company's clinical development pipeline and for working capital and
general corporate purposes.

About Bioasis

Bioasis Technologies Inc. is a biopharmaceutical company developing xB3,
a proprietary platform technology for the delivery of therapeutics
across the blood-brain barrier (BBB) and the treatment of CNS disorders,
including brain cancers and neurodegenerative diseases. The delivery of
therapeutics across the BBB represents the final frontier in treating
neurological disorders. The in-house development programs at Bioasis are
designed to develop symptomatic and disease-modifying treatments for
brain-related diseases and disorders. The company maintains headquarters
in Richmond, BC, Canada with offices in Guilford, Conn., United States.
Bioasis trades on the TSX Venture Exchange under the symbol "BTI" and on
the OTCQB under the symbol "BIOAF." For more information about the
company please visit

On behalf of the Board of Directors
Bioasis Technologies Inc.
Day, Ph.D., President & Chief Executive Officer

Forward Looking Statements

Certain statements in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or forward-looking information under applicable
Canadian securities legislation that may not be based on historical
fact, including the Company's intended use of proceeds of the private
placement, along with other statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate", "intend",
"expect" and similar expressions. Such forward-looking statements or
information involve known and unknown risks, uncertainties and other
factors that may cause our actual results, events or developments, or
industry results, to be materially different from any future results,
events or developments express or implied by such forward-looking
statements or information. Such factors include, among others, our stage
of development, lack of any product revenues, additional capital
requirements, risk associated with the completion of clinical trials and
obtaining regulatory approval to market our products, the ability to
protect our intellectual property, dependence on collaborative partners
and the prospects for negotiating additional corporate collaborations or
licensing arrangements and their timing. Specifically, certain risks and
uncertainties that could cause such actual events or results expressed
or implied by such forward-looking statements and information to differ
materially from any future events or results expressed or implied by
such statements and information include, but are not limited to, the
risks and uncertainties that: products that we develop may not succeed
in preclinical or clinical trials, or future products in our targeted
corporate objectives; our future operating results are uncertain and
likely to fluctuate; we may not be able to raise additional capital; we
may not be successful in establishing additional corporate
collaborations or licensing arrangements; we may not be able to
establish marketing and the costs of launching our products may be
greater than anticipated; we have no experience in commercial
manufacturing; we may face unknown risks related to intellectual
property matters; we face increased competition from pharmaceutical and
biotechnology companies; and other factors as described in detail in our
filings with the Canadian securities regulatory authorities at
Given these risks and uncertainties, you are cautioned not to place
undue reliance on such forward-looking statements and information, which
are qualified in their entirety by this cautionary statement. All
forward-looking statements and information made herein are based on our
current expectations and we undertake no obligation to revise or update
such forward- looking statements and information to reflect subsequent
events or circumstances, except as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

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