SQI Diagnostics Announces Stock Option Grants

TORONTO--()--SQI Diagnostics Inc. (TSX-Venture: SQD), a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics, today announced that effective January 09, 2012, they have granted 70,000 stock options to each of David Williams, Paul Mountain, Peter Lea, Eric Schneider, Saied Nadjafi and Peter Winkley and 175,000 stock options to Claude Ricks. All recipients are members of the Board of Directors.

The options were granted at an exercise price of $0.45. Pursuant to the previously approved stock option plan, the options have a term of 5 years and vest over an 18 month period.

About SQI Diagnostics
SQI Diagnostics is a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company’s proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more information, please visit www.sqidiagnostics.com

FORWARD-LOOKING INFORMATION

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “believe”, “in the process”, “is subject to” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither 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.

Contacts

SQI Diagnostics Inc.
Andrew Morris, 416.674.9500 ext. 229
Chief Financial Officer
amorris@sqidiagnostics.com

Release Summary

SQI grants options

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Contacts

SQI Diagnostics Inc.
Andrew Morris, 416.674.9500 ext. 229
Chief Financial Officer
amorris@sqidiagnostics.com