Sernova Announces Extension of Terms of Warrants

LONDON, ONTARIO--(Marketwire - Oct. 17, 2011) - Sernova Corp. ("Sernova" or the "Company") (TSX VENTURE:SVA) announces that it proposes to extend the term of common share purchase warrants that were issued pursuant to a non-brokered private placement of units of the Company (the "Private Placement") on October 30, 2009.

A total of 3,659,000 units (the "Units") were issued in the 2009 Private Placement, each Unit consisted of one common share of the Company (a "Common Share") and one common share purchase warrant of the Company (a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional Common Share at a price of $0.20 per Common Share. The Warrants are scheduled to expire on October 30, 2011. Subject to TSX Venture Exchange approval, the expiration of the 3,659,000 Warrants will be extended to 4:00 p.m. (Pacific Time) on April 30, 2012.

No Warrants have been exercised to date.

About Sernova

Sernova Corp. is a Canadian-based, health-sciences company focused on commercializing medical technologies. Sernova is currently developing a platform technology for a number of serious disease indications, starting with a novel treatment for insulin-dependent diabetes, using the novel Cell Pouch System™ and its patented Sertolin™ cell technology.

Forward Looking Information This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Sernova believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Sernova's management on the date such statements were made. Sernova expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.