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Press Releases

SQI Diagnostics Inc. Announces New Credit Facility

Toronto, Ontario, May 26, 2008 - SQI Diagnostics Inc. (TSX-Venture: SQD), a medical systems automation company focused on evolving laboratory-based biomarker testing, announced today that Royal Bank of Canada has agreed to provide SQI Diagnostics with financing of $730,000 in the form of a non revolving credit facility. The Company has pledged its SR&ED receivables as primary security against this facility and will enter into a general security agreement covering essentially all of its assets.

"This credit facility demonstrates RBC’s support of our technology and their recognition of our potential growth opportunities," said Claude Ricks, President and CEO of SQI Diagnostics. "This non-dilutive funding will allow us to focus our resources on product development and commercialization activities, as we move toward initial sales of our QuantiSpot and SQiDworks system at the beginning of 2009."

The proceeds of this arrangement are to be used to fund general working capital.

About SQI Diagnostics
SQI Diagnostics is a medical systems automation company focused on evolving laboratory-based biomarker testing. Using automation and proprietary miniaturization technologies, SQI Diagnostics significantly improves the economies of scale for laboratories performing multi-analyte biomarker testing, allowing them to deliver patient results faster, using less labor, and fewer resources. SQI Diagnostics' initial products target the autoimmune disease market, with initial products for rheumatoid arthritis and antiphospholipid syndrome scheduled for launch in 2008. SQI Diagnostics is based in Toronto, Canada. For further information please visit www.sqidiagnostics.com.

For further information please contact:

Certain information in this press release is based on beliefs and assumptions of the Company's senior management and information currently available to it that may constitute forward-looking information within the meaning of securities laws. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements.

This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.