Microbix Biosystems Inc. Announces Terms of Overnight Marketed Equity Offering

TORONTO, November 24, 2011 /CNW/ – Microbix Biosystems Inc. (“Microbix” or the “Company”) (TSX:MBX) is pleased to announce that it has completed an overnight marketed offering of Units and agreed to sell up to 2,213,158 Units at a price of $0.20 per Unit, representing gross proceeds of $442,631 (the “Offering”). The Offering is to be effected on a best efforts agency basis in the Provinces of Ontario, Alberta and British Columbia by way of a prospectus supplement to the Company’s base shelf prospectus dated October 7, 2011. The Units are being offered through Euro Pacific Canada Inc., as Agent.

Each Unit is comprised of: one common share of the Company; one-half of one common share purchase warrant, with each whole warrant exercisable for a period of five years following closing of the Offering at an exercise price of $0.25; and one whole common share purchase warrant exercisable for a period of three years following closing of the Offering at an exercise price of $0.24.

Net proceeds of the Offering will be used for Microbix’ research and development initiatives including, but not limited to, its semen-sexing product, LumiSort™.

Closing of the Offering is subject to the satisfaction of customary closing conditions including, but not limited to, receipt of all necessary securities regulatory approvals, including the approval of the Toronto Stock Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

For further information: visit www.microbix.com or contact:

William J. Gastle CEO

Microbix Biosystems Inc.

416-234-1624 x 230 4

James Long CFO

Microbix Biosystems Inc.

416-234-1624 x 265