Acquisition of Common Shares of SQI Diagnostics Inc.

/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER UNITED STATES NEWSWIRE SERVICES/

CALGARY, AB, July 3, 2020 /CNW/ - Mr. Clive J. Beddoe ("Mr. Beddoe") announces that he has acquired beneficial ownership of 9,177,782 common shares of SQI Diagnostics Inc. ("SQI") through the exercise of common share purchase warrants of SQI ("Warrants") for aggregate consideration of $992,667.12. Of the Warrants exercised, 8,333,337 Warrants exercised at a price of $0.11 per common share were issued pursuant to a private placement of units of SQI on March 1, 2019 and 844,445 Warrants exercised at a price of $0.09 per common share were issued on January 30, 2020 pursuant to an extension of 10% secured non-convertible debentures of SQI and the advance of additional debt financing by Mr. Beddoe. Mr. Beddoe has been a director of SQI since April 8, 2015.

Immediately prior to the acquisition, Mr. Beddoe beneficially owned or exercised control or direction over 70,176,207 common shares, 61,757,400 Warrants and $440,000 principal amount of 10% secured debentures due January 30, 2025 of SQI, representing approximately 25.34% of the issued and outstanding shares of SQI on a non-diluted basis and representing approximately 38.95% of the issued and outstanding shares of SQI, assuming the full exercise of all Warrants that Mr. Beddoe beneficially owns or exercises control or direction over.

Immediately after the acquisition, Mr. Beddoe beneficially owns or exercises control or direction over 79,353,989 common shares, 52,579,618 Warrants and $440,000 principal amount of 10% secured debentures due January 30, 2025 of the issuer, representing approximately 25.93% of the issued and outstanding shares of the issuer on a non-diluted basis and representing approximately 36.79% of the issued and outstanding shares of SQI, assuming the full exercise of all Warrants that Mr. Beddoe beneficially owns or exercises control or direction over.

The securities described herein were acquired for investment purposes. Mr. Beddoe may increase or decrease his investment, directly or indirectly, in securities of SQI from time to time, depending on market conditions or any other relevant factors.

A copy of the report relating to this acquisition may be found on SQI's profile at www.SEDAR.com or may be obtained from Mr. Ryan Ogrodniczuk at 403-266-6203 or at Mr. Beddoe's address c/o Hanover Investments Corporation Ltd., 396-11th Avenue SW, Suite 1320, Calgary, Alberta  T2R 0C5. SQI's head office is located at 36 Meteor Drive, Toronto, Ontario  M9W 1A4.

SOURCE Clive J. Beddoe