Biorem Reports Sale of Securities by Major Shareholders

GUELPH, ON, June 27, 2016 /PRNewswire/ - BIOREM Inc. (TSX-V: BRM) ("Biorem" or "the Company") announces that it has been advised by its major shareholders, Clean Technology Fund I, LP and Clean Technology Fund II, LP, United States based venture capital funds which together hold approximately 59% of the common shares of Biorem (on a fully diluted, as converted basis), that they have entered into an agreement for the disposition of their entire equity holdings in Biorem to TUS Holdings Co. Ltd. ("TUS") (en.tusholdings.com) at a purchase price equivalent to $0.345 per common share. Biorem understands that the sale is subject to certain closing conditions including (i) any approvals required from the TSX Venture Exchange ("TSXV"), (ii) the resignation of Bernardo Llovera from the board of directors of Biorem, (iii) the expansion of the board of directors to five members and (iv) the appointment of two directors nominated by TUS to the board of directors. Biorem is not a party to the transaction and has made an application to TSXV for confirmation that the only approval required from the TSXV in respect of the transaction is the approval of TUS as a new insider of Biorem.