Genix Pharmaceuticals arranges $100,000 financing

Mr. Mahmoud Aziz reports GENIX ANNOUNCES NON-BROKERED PRIVATE PLACEMENT Genix Pharmaceuticals Corp. has proposed to undertake a non-brokered private placement of up to two million units at a price of five cents per unit to raise total gross proceeds of up to $100,000. Each unit will comprise one common share and one warrant. Each whole warrant will entitle the holder thereof to purchase one common share for a period of two years at a price of 10 cents. The gross proceeds received from the sale of the units will be used for outstanding payments related to the company's age-related macular degeneration (ARMD) eye drop project and general working capital. All securities issued and sold under the offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the offering remains subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Certain directors and officers of the company are expected to participate in the offering. Participation by insiders in the private placement is considered a related party transaction pursuant to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company expects that it will be exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the private placement in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. About Genix Pharmaceuticals Corp. Genix Pharmaceuticals is a highly innovative Canadian ophthalmic drug company. The company focuses on the research, development, manufacture, licensing and sales of novel and innovative prescription and OTC (over-the-counter) ophthalmological products that meet the growing needs of consumers worldwide and especially the aging baby boomers. The company has three products awaiting Health Canada approval. We seek Safe Harbor.