SQI Diagnostics Announces Stock Option Grants



    TORONTO, Oct. 23 /CNW/ - SQI Diagnostics Inc. (TSX-Venture: SQD), a
medical systems automation company focused on evolving laboratory-based
biomarker testing, today announced that they have granted 50,000 stock options
to David Williams, a member of the Board of Directors.
    The options were granted at an exercise price of $1.50. Pursuant to the
previously approved stock option plan, the options have a term of 5 years and
vest over a 18 month period.

    About SQI Diagnostics

    SQI Diagnostics is a medical systems automation company focused on
evolving laboratory-based biomarker testing. Using automation and proprietary
miniaturization technologies, SQI Diagnostics significantly improves the
economies of scale for laboratories performing multiple biomarker testing at
high volumes, allowing them to deliver patient results faster using less labor
and fewer resources. SQI Diagnostics' initial products target the $1.4 billion
autoimmune disease market, with initial products for Rheumatoid Arthritis and
Thrombosis. SQI Diagnostics is based in Toronto, Canada. For further
information please visit www.sqidiagnostics.com.

    Certain information in this press release is based on beliefs and
assumptions of the Company's senior management and information currently
available to it that may constitute forward-looking information within the
meaning of securities laws. Such statements reflect the current views of the
Company with respect to future events and are subject to certain risks and
uncertainties. Actual results, events, and performance may differ materially.
Readers are cautioned not to place undue reliance on these forward-looking
statements.

    This release was prepared by management of the Company who takes full
    responsibility for its contents. The TSX Venture Exchange has not
    reviewed and does not accept responsibility for the adequacy or accuracy
    of this news release.

    %SEDAR: 00021000E




For further information:

For further information: Chief Financial Officer, Andrew Morris, (416)
674-9500 ext. 229, amorris@sqidiagnostics.com; Investor Relations, James
Smith, (416) 815-0700 ext. 229, jsmith@equicomgroup.com


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