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Press release Communiqué de presse


May 7, 2015 7 May, 2015

Sernova Announces Non-Brokered Private Placement


NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

SERNOVA ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Source: Sernova Corp

May 8, 2015, 6:00 a.m. EDT

LONDON, ONTARIO –May 8, 2015 – Sernova Corp. (“Sernova” or the “Company”) (TSX VENTURE: SVA) announces that it is undertaking a non-brokered private placement of up to 8,500,000 units (the “Units”) at price of $0.18 per Unit for total gross proceeds of approximately $1,500,000.

Each Unit will consist of one common share and one common share purchase warrant, with each warrant exercisable into one share at a price of $0.30 per share for a 24 month exercise period, subject to abridgement of the exercise period (after the expiry of the 4 month hold period) with 30 days notice to holders in the event that the twenty-day volume weighted price of the shares exceeds $0.50.

Net proceeds from the private placement will be used to fund Sernova's collaborations utilizing our platform technology to treat diabetes and other serious disease conditions, as well as for general corporate purposes.

All securities issued in connection with the private placement will be subject to a statutory hold period of four months. The Company will compensate finders on a portion of the private placement consisting of 7% in cash and 7% in finder warrants, or a combination thereof.

Completion of the private placement is expected to occur within the next few days, subject to the receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

About Sernova

Sernova Corp is a clinical stage regenerative medicine company developing medical technologies for the treatment of chronic debilitating metabolic diseases such as diabetes, blood disorders including hemophilia and other diseases treated through replacement of proteins or hormones missing or in short supply within the body. Sernova is developing the Cell Pouch(TM), an implantable medical device for therapeutic cells (donor, xenogeneic or stem cells). The therapeutic cells are protected from immune attack by Sernova’s proprietary local immune protection technology.

For further information contact: Philip Toleikis, Ph.D., President and CEO Tel: (604) 961-2939 philip.toleikis@sernova.com info@sernova.com www.sernova.com

Ray Matthews & Associates Suite 601-128 West Cordova Street, Vancouver, BC V6B 0E6 Tel: (604) 818-7778 www.raymatthews.ca

Forward Looking Information This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Sernova’s management on the date such statements were made. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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.