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VANCOUVER, BC – OCTBER 31, 2016 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSX VENTURE: APC) (Frankfurt: 0E8) is pleased to announce that it has closed the first tranche of a non-brokered private placement financing (“Private Placement”) announced October 25, 2016 by the issuance of an aggregate of 2,600,000 units (“Units”) at a purchase price of $0.05 per Unit for gross proceeds of $130,000. Each Unit consists of one common share in the capital of the Company and one non-transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share in the capital of the Company on or before October 28, 2017, at a purchase price of $0.10 per share.

All securities issued by the Company pursuant to the Private Placement are subject to a hold period of four months and one day and cannot be resold until March 1, 2017. In connection with the Private Placement the Company paid cash finder’s fees of $7,500 to Haywood Securities Inc., representing 7.5% of the gross proceeds received from subscribers introduced to the Company by such finder.

Alexander Krantz, a director and officer of the Company, subscribed for 600,000 Units.

The participation of the Company’s director in the Private Placement constitutes a “related party transaction” pursuant to Multilateral Instrument 61-101 (“MI 61-101”). However, the Private Placement is exempt from the formal valuation requirement and the minority shareholder approval requirement found in MI 61-101 on the basis that neither the fair market value of the Units nor the consideration paid by such director for Units exceeds 25% of the market capitalization of the Company.

Net proceeds of the Private Placement will be used to support the application of the Company’s site-selective technology for the development of antibody-drug conjugates in its industrial partnerships and academic collaborations with world-class institutions devoted to antibody technology.

The Private Placement is subject to final approval by the TSX Venture Exchange.

About APC

Advanced Proteome Therapeutics Corporation (APC) is advancing a site-specific protein modification technology platform to enable the development of superior protein therapeutics. Using this technology, APC has generated numerous and diverse modifications of annexin proteins with superior binding and stability properties, which are amenable to further labeling and conjugation for use in therapeutic applications. APC is now vigorously applying its technologies to achieve the site-specific labeling of therapeutic antibodies and provide the next generation of antibody-drug conjugates.

FOR FURTHER INFORMATION PLEASE CONTACT:

Advanced Proteome Therapeutics Corporation
Alexander (Allen) Krantz
President and Chief Executive Officer
Tel: 617-638-0340
https://www.advancedproteome.com

Advanced Proteome Therapeutics Corporation
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
Tel: 416-644-5081
bpedram@virtusadvisory.com

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. The forward-looking statements contained in this news release involve risks and uncertainties, and are subject to change based on various important factors including timely development and acceptance of new products, gaining product approval, successful entry into new markets, changes in financing conditions, and changes in FDA regulations.