BriaCell Completes Previously Announced Investment with Leading U.S. Biotech Fund and Non-Brokered Private Placement

Berkeley, CA and Vancouver, BC – May 3, 2016 – BriaCell Therapeutics Corp. (“BriaCell” or the “Company”) (TSXV: BCT) (OTCQB: BCTXF) is pleased to announce that the Company has completed both its previously announced brokered and non-brokered private placements of units totaling gross proceeds of C$1,275,000.

BriaCell intends to use the proceeds from the financings towards its upcoming Phase I/IIa clinical trial for BriaVaxTM, which is planned to launch by early summer 2016. Funds will also be used for advancing BriaCell’s R&D program and companion diagnostic platform known as BriaDx™, and for general corporate purposes.
BriaCell CFO Mr. Gadi Levin commented, “We have prudently positioned strategic investors through equity, and aligned new investors with existing ones while infusing the Company with capital, allowing BriaCell to execute on its significant milestones.”

A leading US biotechnology fund invested C$650,000 into BriaCell through a subscription of units in a brokered private placement led by New York investment bank Rodman & Renshaw, a unit of H.C. Wainwright & Co. (“HCW”). This investment was complemented by a non-brokered private placement of an additional C$625,000 worth of units (each, a “Non-Brokered Unit”). Together, the financings resulted in a gross equity investment of C$1,275,000.

HCW acted as exclusive agent to the brokered private placement and received a cash commission equal to 8% of the gross proceeds raised, plus a number of broker warrants (the “Broker Warrants”) equal to 8% of the units issued in the brokered private placement. Each Broker Warrant is exercisable into one common share in the capital of the Company (a “Common Share”) for a period of 60 months from closing of the brokered private placement at a price of C$0.30 per Common Share.

An 8% cash commission plus finder’s options (the “Finder’s Option”) equal to 8% of the number of Non-Brokered Units sold in the non-brokered private placement were paid to certain participating dealers. Each Finder’s Option is exercisable into one Non-Brokered Unit at any time until April 29, 2018 at an exercise price of $0.20.
Securities issued in the financings are subject to a statutory four month hold period. For further details of the financings, please refer to the Company’s news releases dated April 22, 2016.

ABOUT BRIACELL

BriaCell is an immuno-oncology biotechnology company developing a more targeted, less toxic approach to cancer management. BriaCell’s mission is to serve late-stage cancer patients with no other treatment options.

Immunotherapy has come to the forefront of the fight against cancer, harnessing the body’s own immune system in recognizing and selectively destroying the cancer cells while sparing normal ones. Immunotherapy, in addition to generally being more targeted and less toxic than commonly used types of chemotherapy, is also thought to be a strong type of approach aimed at preventing cancer recurrence.

BriaVax™, the Company’s lead product is a genetically engineered whole-cell vaccine derived from a human breast tumor cell line. This targeted vaccine is believed to generate strong antibody and T-cell responses, which in turn may boost the immune system to recognize and eliminate cancerous cells. The Company has already demonstrated encouraging clinical results, and is intent on building upon these results to further advance BriaVax™ through additional FDA-approved clinical trials in order to help cancer patients with no other options. The results of two previous FDA Phase I clinical trials have been encouraging in terms of both safety and efficacy in patients with advanced solid tumors (17 breast cancer, 1 ovarian cancer).

In some cases, patient survival was three to five times longer than would have been expected. For more information, please visit www.BriaCell.com.

CONTACT INFORMATION
For further information contact:
BriaCell Therapeutics Corp.
820 Heinz Avenue
Berkeley, CA 94710

Ms. Farrah Dean
Manager, Corporate Development
Phone: 1-888-485-6340
Email: farrah@BriaCell.com

The TSX Venture Exchange Inc. has in no way passed upon the merits of the Company has neither approved nor disapproved the contents of this press release. 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.

The securities offered have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Cautionary Note Regarding Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation which involves known and unknown risks relevant to the Company in particular and to the biotechnology and pharmaceutical industries in general, uncertainties and other factors that may cause actual events to differ materially from current expectation. These risks are more fully described in the Company’s public filings available at www.sedar.com. Other forward-looking information in this news release includes but is not limited to the intended use of proceeds of the brokered and non-brokered private placements and other terms of the brokered and non-brokered private placements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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