Annidis announces issuance of Common Shares in connection with conversion of Convertible Promissory Notes

OTTAWA, April 29, 2016 /CNW/ - Annidis Corporation (TSX Venture: RHA) ("Annidis" or the "Corporation") announces that, further to its press release dated March 22, 2016, in connection with the conversion of convertible promissory notes in the principal amount of $670,000 plus all outstanding interest having accrued thereon up to and including March 8, 2016 (the "Notes"). The Corporation has issued a total of 9,197,382 common shares in the capital of the Corporation ("Common Shares") to Yimai Technology International Corporation Limited ("Yimai"), an insider of the Corporation. As a result of the conversion of the Notes, Yimai holds 49,179,428 common shares, representing approximately 42% of the 117,081,250 issued and outstanding common shares in the capital of the Corporation.

In accordance with applicable Canadian securities laws, all securities issued in connection with the conversion of the Notes are subject to a minimum hold period of four months and one day from the distribution date.

About Annidis Corporation

Annidis has developed and manufactures and sells a patented imaging platform technology based on multi-spectral imaging. The current RHA is a retinal screening technology used by primary care professionals for early disease detection. The RHA is complementary to diagnostic imaging technologies and supports the timely identification, treatment and monitoring of a wide range of vision threatening diseases.

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.

Certain statements in this press release are forward looking statements and are prospective in nature, including statements with respect to the Corporation's intended use of the proceeds of the Notes. Forward‐looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward‐looking statements. These statements generally can be identified by the use of forward‐looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward‐looking statements should therefore be construed in light of such factors, and the Corporation is not under any obligation, and 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.

SOURCE Annidis Corporation

Cameron Bramwell, President & CEO, Annidis Corporation, [phone], [email protected]