A2 Acquisition Corp. Announces TSXV Conditional Approval and the Increase of Medicenna Therapeutics Inc. Offering Size to $4,000,000

CALGARY, ALBERTA--(Marketwired - Feb. 27, 2017) -

NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES

A2 Acquisition Corp. ("A2" or the "Company") (TSX VENTURE:APD.P), a capital pool company, is pleased to announce that the offering being conducted by Medicenna Therapeutics Inc. ("Medicenna") has been increased, due to market demand, to $4,000,000 (the "Private Placement"). The Private Placement is led by Richardson GMP Limited and includes Bloom Burton Securities Inc. in the syndicate.

A2 and Medicenna intend to complete a business combination proposed to constitute A2's Qualifying Transaction, as such term is defined in Policy 2.4 of the Corporate Finance Manual of the TSX Venture Exchange (the "Proposed Transaction"). The Proposed Transaction will result in A2 acquiring all of the issued and outstanding equity shares of Medicenna in exchange for common shares of A2, on a post consolidation basis.

The Company is also pleased to announce that it has received conditional acceptance from the Exchange for the Proposed Transaction and as a result it has SEDAR filed its filing statement dated February 27, 2017 (the "Filing Statement").

The Proposed Transaction is subject to, among other things, final approval of the TSX Venture Exchange (the "Exchange") and standard closing conditions, including the conditions described below.

Upon completion of the Proposed Transaction, A2 will continue on with the business of Medicenna.

Subject to satisfactory completion of due diligence, the parties expect to close the Proposed Transaction on or before March 3, 2017 (or such other date as may be mutually agreed in writing between A2 and Medicenna) ("Closing"), which will include: (a) the acquisition of all of the securities of Medicenna; (b) the change of management and the Board of Directors of the Company as set forth in the Filing Statement; (c) the consolidation of the Company shares on a 14:1 basis; and (d) the name change of the Company to Medicenna Therapeutics Corp.

Further particulars of the Proposed Transaction may be found in the news release dated February 6, 2017 and the Filing Statement.

About Medicenna

Medicenna Therapeutics is a clinical stage immuno-oncology company developing novel highly selective engineered versions of IL‐2, IL‐4 and IL‐13 cytokines called Superkines™ and first in class Empowered Cytokines™ (ECs). Its wholly owned subsidiary, Houston‐based Medicenna BioPharma, is specifically targeting the Interleukin‐4 Receptor (IL4R), which is over‐expressed by at least 20 different types of cancer affecting more than one million new cancer patients every year. Medicenna's lead IL‐4EC, MDNA55, is enrolling in a Phase 2b clinical trial for recurrent glioblastoma (rGB), the most aggressive and common form of brain cancer. MDNA55 has completed three clinical trials in 72 patients with rGB, demonstrated compelling efficacy and obtained Fast‐Track Designation from USFDA and Orphan Drug Status from USFDA and EMA. For more information, please visit www.medicenna.com.