Algae Biosciences Comments On Recent Trading Activity

CALGARY, Alberta, Dec. 17, 2012 (GLOBE NEWSWIRE) -- Algae Biosciences Corporation (TSX-V:ABV) ("AlgaeBio" or the "Company") announces that the Company is aware of the unusually active trading activity in its common stock and wishes to inform the investment community that all material events concerning the Company have been fully disclosed in previous press releases and other required filings. AlgaeBio Chairman Robert Thompson commented: "In our most recent corporate update released on November 28, 2012, we reported that the installed bioreactors systems are performing to specification with no scale-up issues. This continues to be the case."

ABOUT ALGAE BIOSCIENCES CORPORATION: AlgaeBio is a Canadian biotechnology company that researches, develops, and manufactures products from micro and macro algae such as nutraceuticals, food additives, and pharmaceuticals. AlgaeBio owns and operates production facilities near Holbrook, Ariz., and is listed on the TSX Venture Exchange (TSX-V:ABV).

Cautionary Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although the Corporation believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to the Corporation. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, the Corporation does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation or its financial or operating results or (as applicable), their securities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the content of this release.

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