Response Biomedical Corp. Announces Intention to Enter Into Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2016) - Response Biomedical Corp. ("Response" or the "Company") (TSX:RBM)(OTC:RPBIF) announces it intends to enter into a private placement (the "Private Placement") of common shares of the Company for gross proceeds of up to U.S.$1,000,000.

Listing of the issuance of the common shares issued in the Private Placement will be subject to satisfying all of the requirements of the TSX. The Company intends to use the net proceeds of the Private Placement to fund operating expenses and for general working capital purposes.

The Private Placement is intended to be made on a non-brokered private placement basis, exempt from prospectus and registration requirements of applicable securities laws, though there can be no assurance that the Private Placement will close. The common shares issued pursuant to the Private Placement will be subject to resale restrictions under applicable securities laws.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States or to "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S Securities Act ("U.S. Persons") except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States or to U.S. Persons, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful.

The Company expects one insider to participate in the transaction such that the Private Placement will be a "related party transaction", as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company intends to rely on the exemptions available under MI 61-101 from the valuation and minority shareholder approval requirements.

About Response Biomedical Corp.

Response develops, manufactures and markets rapid on-site diagnostic tests for use with its RAMP^® platform for clinical, biodefense and environmental applications. RAMP^® represents a unique paradigm in diagnostics that provides reliable, quality results in minutes. The RAMP^® platform consists of a reader and single-use disposable test cartridges and has the potential to be adapted to any other medical and non-medical immunoassay based test currently performed in laboratories. Response clinical tests are commercially available for the aid in early detection of heart attack, congestive heart failure, thromboembolism, procalcitonin, influenza A and B and RSV. In the non-clinical market, RAMP^® tests are currently available for the environmental detection of West Nile Virus and Dengue Fever antigen and for Biodefense applications including the rapid on-site detection of anthrax, smallpox, ricin and botulinum toxin. Response is a publicly traded company listed on the TSX under the trading symbol "RBM" and quoted on the OTC under the symbol "RPBIF". For further information, please visit the Company's website at www.responsebio.com.