Ceapro Announces Issuance of Shares for Debt Reduction Initiative

EDMONTON, ALBERTA -- (Marketwired) -- 12/24/15 -- Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Company"), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, announced today that pursuant to debt settlement agreements with each of its Directors, previously announced on December 3, 2015, it has received approval from the TSX Venture Exchange and it has issued 273,540 common shares to fully settle the debt. The settlement shares are subject to a statutory hold period of four months plus a day in accordance with applicable securities law legislation.

About Ceapro Inc.

Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and "active ingredients" from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions. For more information on Ceapro, please visit the Company's website at www.ceapro.com.

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

Investor and Media Contact:
Jenene Thomas
Jenene Thomas Communications, LLC
Investor Relations and Corporate Communications Advisor
T (US): 908-938-1475
E: jenene@jenenethomascommunications.com

Source: Ceapro Inc.

Released December 24, 2015