Technical Ventures Increases Financing and Reschedules Special Shareholders Meeting

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2014) -

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Technical Ventures RX Corp. ("Technical") (TSX VENTURE:TIK.P) announces today that it has rescheduled its special shareholders' meeting originally scheduled for September 26, 2014 to approve its Qualifying Transaction (as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange) with TheraVitae Inc. ("TVI"), as previously announced, to November 5, 2014 ("Meeting"). The Meeting was rescheduled as a result of a decision by Technical to raise up to an additional $1,500,000 concurrently with closing of the Qualifying Transaction. Accordingly, Technical will file an amended and restated information circular with the TSX Venture Exchange ("Exchange") shortly. Technical shareholders should disregard the information circular dated August 29, 2014.

Increased Offering

Technical announces it has amended the terms of its previously announced offering, which is taking place pursuant to Exchange Policy 4.6 Public Offering by Short Form Offering Document ("SFOD Offering") such that the minimum amount under the SFOD Offering has increased to $2,000,000 from $1,310,000.

In addition to the funds to be raised under the SFOD Offering, Wolverton Securities Ltd. will assist Technical on a commercially reasonable efforts basis, for the offering of a minimum of 10,000,000 common shares ("Shares") and up to a maximum of 15,000,000 Shares of Technical at a price of $0.10 per common Share (minimum of 2,000,000 Shares and a maximum of up to 3,000,000 Shares at an issue price of $0.50 per Share after giving effect to the consolidation taking place under the Qualifying Transaction) for minimum gross proceeds of $1,000,000 and maximum gross proceeds of $1,500,000 ("Private Placement"). Wolverton will receive a commission equal to 8% of the gross proceeds received by Technical from the sale of the Shares, which commission is payable in cash, Shares or any combination thereof at the option of Wolverton. In addition, the Corporation will grant to Wolverton a non-transferable option entitling Wolverton, for a period of five years from the date of closing, to purchase such number of Shares at an exercise price of $0.10 per Share ($0.50 after giving effect to the consolidation taking place under the Qualifying Transaction), as is equal to 8% of the aggregate number of Shares sold. Wolverton will also be paid a corporate finance fee in connection with the Private Placement and will be reimbursed for all reasonable expenses incurred therewith.