BELGRADE, Mont.--(BUSINESS WIRE)--

Lattice Biologics Ltd. (TSX-V: LBL) (OTCQB: LBLTF) (“Lattice Biologics” or the “Company”) is providing this default status report in accordance with National Policy 12-203 – Management Cease Trade Orders. The Company’s audited annual financial statements, related management’s discussion and analysis and accompanying CEO and CFO certifications for the financial year ended September 30, 2017 (collectively, the “Required Filings”) would not be completed by the prescribed period for the filing of such documents under Parts 4 and 5 of National Instrument 51-102 respecting Continuous Disclosure Obligations and pursuant to National Instrument 52-109 respecting Certification of Disclosure in Issuer’s Annual and Interim Filings, being September 30th, 2017.

As a result of this delay in the filing of the Required Filings, the British Columbia Securities Commission granted a management cease trade order (the “MCTO”) on January 30th, 2018 against the Company’s Chief Executive Officer and Chief Financial Officer, rather than a general cease trade order against the Company. The MCTO restricts all trading in securities of the Company, whether direct or indirect, by the Chief Executive Officer and Chief Financial Officer of the Company until such time as the Required Filings have been filed by the Company. The MCTO does not generally affect the ability of shareholders who are not insiders of the Company to trade their securities.

The Company expects it will file the Required Filings by April 30th, 2018. The audit process is underway and the Company is working closely with its auditors and expects to complete the remaining steps in order to file the Required Filings.

The Company intends to satisfy the provisions of the alternative information guidelines set out in sections 4.3 and 4.4 of National Policy 12-203 Management Cease Trade Orders by issuing bi-weekly default status reports in the form of further news releases, which will be filed on SEDAR, until the Required Filings have been filed.

The Company confirms as of the date of this news release that there is no insolvency proceeding against it and there is no other material information concerning the affairs of the Company that has not been generally disclosed. The Company would file, to the extent applicable, its next default status report on or about April 30th, 2018.

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