GeneNews closes first tranche of non-brokered private placement

TORONTO, CANADA (July 9, 2009):

GeneNews Limited (GEN), a company focused on developing blood-based biomarker tests for the early detection of diseases and personalized health management, today announced that it has closed the first tranche of a non-brokered private placement offering of its common shares. Pursuant to today's closing, GeneNews issued 6,810,964 common shares from treasury at a price of CDN$0.25 per share for total gross proceeds to the Company of CDN$1,702,741. GeneNews will use the proceeds for general working capital purposes, the continued marketing of ColonSentry™ in Canada, and pre-launch preparation for the commercial launch of the ColonSentry™ test in the United States, Europe and Asia.

The securities issued in the private placement are subject to the Canadian resale rules which include a four-month hold period before the common shares may become freely-tradeable within Canada. The securities have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and, until so registered, may not be offered or sold in the United States or any state or to, or for the account of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.

Forward-Looking Statements