Stem Cell Therapeutics Announces Offering of Up to $3.5 Million of Units

TORONTO, ONTARIO--(Marketwire - March 7, 2013) -

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Stem Cell Therapeutics Corp. (TSX VENTURE:SSS) ("SCT"), a life sciences company developing stem cell-related technologies, announced todaythat it intends to file a prospectus supplement in each of the Canadian provinces of British Columbia, Alberta, Manitoba, Ontario and Nova Scotia by way of a prospectus supplement to SCT's base shelf prospectus of March 1, 2011 in respect of its previously announced offering of securities.

The offering consists of up to 14,000,000 units ("Units") which will be offered at $0.25 each for gross proceeds of up to $3.5 million. Each Unit will be comprised of one common share and one common share purchase warrants (the "Warrants"). Each Warrant will entitle the holder to purchase an additional common share for $0.40 for a period of 60 months following the closing of the offering. Euro Pacific Canada Inc. is acting as the agent for the offering.

The purpose of the offering is to provide the resources necessary to conclude the acquisition of Trillium Therapeutics Inc. by SCT, announced February 4th, 2013, and to trigger a condition precedent to permit the exercise of the option by SCT to acquire the license to the Tigecycline intellectual property from the University Health Network/MaRS Innovation, Toronto, announced November 7th, 2012. The assets expected to be acquired and licensed will conclude the initial step of SCT's published corporate objectives for advancing the Corporation's interests.

In addition to the foregoing, SCT intends to complete a non-brokered private placement in the United States of units of securities of SCT (the "Concurrent Units") to certain US accredited investors at the same price as the Units (the "Concurrent Private Placement").

The securities issued under the Concurrent Private Placement will not be qualified by prospectus. Each Concurrent Unit will have substantially the same attributes and will be issued on substantially the same terms as the Units offered pursuant to the offering.

It is currently expected that the closing of the Concurrent Private Placement will take place contemporaneously with the closing of the offering, however, closings of the offering and the Concurrent Private Placement are not conditional on the other.

This news release shall not constitute an offer to sell nor the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

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Stem Cell Therapeutics Announces Offering of Up to $3.5 Million of Units