Vivione Biosciences Inc. AnnouncesChanges in Company Directors and Other Matters

CALGARY, Alberta - Dec. 24, 2016 - PRLog -- Vivione Biosciences Inc. ("Vivione" or the "Corporation") (TSXV: VBI)is pleased to announce thatthe Board of Directors has appointed Mark D. Diggs of Little Rock, AR to fill an unfilled director position.

Company directors, Phillip Tuttle and Glenn Smith have resigned as directors and Chester Jachimiec has resigned his officer positions.

The Corporation has limited remaining capital and believes that the best chance of continuing operations, covering liabilities, and monetizing the value of Corporation's equity position in Vivione Biosciences, LLC ("VBL"), is to reduce the monies spent on reporting, and as such plans to reduce such expenses.

The Follow-on Investments in VBL have beenall  completed by Montalcino Holdings I, LLC as previously described. Following that Investment, the Corporation owns, on a fully diluted basis approximately 9% of VBL.  It is believed that VBL potentially plans to raise more funds via an equity transaction that would further dilute Vivione's ownership percentage in VBL.

Vivione believes that this action is a positive step for the Corporation and its shareholders and expects that it will permit the Corporation to avoid resorting to insolvency.

About Vivione

Vivione's business through its ownership in VBL is centered on the commercialization of the RAPID-B technology, which is an integrated system of hardware, software and chemical reagents that tests bacteria in key environments. This technology could have potentially diverse applicability from food safety to clinical diagnostics, by identifying and quantifying microorganism levels more rapidly and with greater precision than currently employed techniques.

Stock Exchange Listing

It is expected that with the action, the Corporation may not be unable to meet the TSX Exchange's  continued listing requirements.

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although Vivione believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to Vivione. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the inability to close the Initial Investment, failure to reach one or all Milestones, failure to close all or part of the Follow-on Investment, the failure to receive final TSXV approval, insufficient shareholder approval, obtaining any necessary approval from regulators in the United States, and the ability of the Corporation to pays its liabilities as they become due. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, Vivione does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. Vivione undertakes no obligation to comment on expectations or statements made by third-parties in respect of Vivione, or its financial or operating results or (as applicable), their securities.

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.