Toronto, Ontario, – SQI Diagnostics Inc. (TSX-V: SQD), a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics, today announced that it has established a Special Committee to review possible strategic transactions, determine appropriate responses, as well as other options available to optimize benefits to the Corporation and its stakeholders. The Special Committee was appointed to review interest from a number of parties relating to a possible merger or sale of the Company. The Company intends to continue to actively explore these and other alternatives, including strategic alliances. The Company’s research and development activities, regulatory processes related to its diagnostic product pipeline, commercial operations and business development activities including the growth of its Diagnostics Tools and Services business will continue during this process.

The Board of Directors has appointed a Special Committee consisting of the Chairman and two other independent directors to oversee the process. The U.S. based investment banking firm Cantor Fitzgerald is assisting the Company in this process.

There can be no assurance that this process will result in any specific action or transaction. The Company does not undertake any obligation to update this information.

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.