TapImmune Announces Reverse Stock Split in Preparation for Proposed Uplisting to NASDAQ Capital Market

JACKSONVILLE, Florida, September 15, 2016

TapImmune Inc. (TPIV), a clinical-stage immuno-oncology company specializing in the development of innovative peptide and gene-based immunotherapeutics and vaccines for the treatment of cancer and metastatic disease, announced today that its Board of Directors has approved a 1-for-12 reverse stock split of the Company's authorized, issued, and outstanding common stock in preparation for its proposed listing of its common stock on the NASDAQ Capital Market. The Company believes that it will meet all of the listing requirements for listing the company's common stock on the NASDAQ Capital Market.

The reverse stock split will become effective with the Financial Industry Regulatory Authority (FINRA) and in the marketplace on September 16, 2016, whereupon the shares of common stock will begin trading on a split-adjusted basis.

"This reverse stock split is an important step in TapImmune's corporate development," stated Dr. Glynn Wilson, CEO of TapImmune Inc. "Moving to a national exchange represents a significant step toward creating long-term stockholder value and attracting a broader, more diverse stockholder base."

At the effective time of the 1-for-12 reverse stock split, every 12 shares of issued and outstanding common stock will be converted into 1 share of issued and outstanding common stock, and the authorized shares of common stock will be reduced from 500,000,000 to 41,666,667 shares. All fractional shares of common stock will be rounded up to the nearest whole share. Immediately after the reverse stock split becomes effective, the Company will have approximately [8,375,355] shares of common stock outstanding.

TapImmune's common stock will trade under the ticker symbol "TPIVD" for a period of 20 business days after the reverse stock split has been effected in the marketplace, and stock certificates issued after the reverse stock split will bear the new CUSIP number 876033 408. Before any listing of the common stock on the NASDAQ Capital Market could occur, NASDAQ will need to approve the Company's application for listing after the reverse stock split is completed. There can be no assurance that the Company's application will be approved.

Stockholders of record are not required to send in their current stock certificates or evidence of book-entry or other electronic positions for exchange. Following the effectiveness of the reverse stock split, each stock certificate and book-entry or other electronic position representing issued and outstanding shares of the Company's common stock will be automatically adjusted. Each paper stock certificate will represent one-twelfth of the shares listed thereon.  Those stockholders holding common stock in "street name" will receive instructions from their brokers if they need to take any action in connection with the reverse stock split.