GeneNews Retains Marcum, LLP as New Corporate Auditor

TORONTO, March 17, 2017 /CNW/ - GeneNews Limited (TSX:GEN) ("GeneNews" or the "Company") announced today that it has retained the services of Marcum, LLP, a leading independent public accounting and advisory services firm in the United States, as its new corporate auditor, effective March 16, 2017.

In a press release issued on March 7, 2017, GeneNews previously announced that its board of directors (the "Board") had approved a change of the Company's auditor and accepted the resignation of Ernst & Young LLP ("EY"). The retention of Marcum, LLP concludes a swift process to engage a public accounting firm that will fulfill GeneNews' auditing requirements.

"With its strong reputation and quality of service, Marcum is a natural fit for GeneNews, and well suited to our size and needs," commented James R Howard-Tripp, GeneNews' Chairman & CEO. "With our new auditor in place, we will continue to maximize our available financial resources to market GeneNews' comprehensive portfolio of early cancer diagnostic tests throughout the United States."

The Notice of Change of Auditor, together with the required letters from Marcum, will be filed on SEDAR.

Notwithstanding the change of auditors, GeneNews anticipates that the filing of its annual financial statements, management's discussion and analysis, annual information form and the related officer certifications for the financial year ended December 31, 2016 will take place on or before the filing deadline of March 30, 2017.

About GeneNews

GeneNews is committed to becoming a leader in advanced diagnostics and personalized medicine, serving as a strong commercialization outlet for early detection of cancer and other chronic diseases. Our mission is to identify, assess and make commercially available a comprehensive menu of diagnostics that provide physicians and patients with personalized clinical intelligence and actionable information to improve health out-comes through the early diagnosis of disease.  Our Richmond, Virginia-based Innovative Diagnostics Laboratory clinical reference lab specializes in traditional and advanced clinical evidence-based blood testing that helps find, understand, and address cancer risk in patient populations. Currently, IDL offers risk assessment blood tests for the three most prevalent cancer types - colon, lung and prostate.  GeneNews' common shares trade on the Toronto Stock Exchange under the symbol 'GEN'.   More information on GeneNews can be found at www.GeneNews.com.

Forward-Looking Statements

This press release contains forward-looking statements identified by words such as "expects", "will" and similar expressions, which reflect the Company's current expectations regarding future events, including its engagement of a middle market, U.S.-based independent registered public accounting firm. The forward-looking statements involve risks and uncertainties that could cause the Company's actual events to differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements, except as required by law. 

SOURCE GeneNews Limited

For further information: Company Contact: James R. Howard-Tripp, Chairman & CEO, Office: (905) 209-2030, jhoward-tripp@genenews.com; Investor & Media Contact: Stephen Kilmer, Office: (212) 618-6347, Mobile: (647) 872-4849, stephen@kilmerlucas.com

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http://www.genenews.com/

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