Spectral Diagnostics adopts new By-Laws which contain advance notice provisions

Spectral Diagnostics Inc. (TSX: SDI) (OTC QX: DIAGF) ("Spectral",
or the "Corporation") today announced the approval and adoption by its
board of directors (the "Board") of new by-laws ("By-Laws") which
include advance notice provisions, the purpose of which is to require advance
notice be provided to the Corporation in circumstances where nominations of
persons for election to the Board are made by shareholders of the Corporation
other than pursuant to: (i) a requisition of a meeting of shareholders made
pursuant to the provisions of the Business Corporations Act (Ontario)
(the "Act"); or (ii) a shareholder proposal made pursuant to the provisions
of the Act.

The purpose of the By-Law is to provide shareholders, directors
and management of the Corporation with a clear framework for nominating
directors. Among other things, the By-Law fixes a deadline by which holders of
common shares of the Corporation must submit director nominations to the
Corporation prior to any annual or special meeting of shareholders and sets
forth the minimum information that a shareholder must include in the notice to
the Corporation for the notice to be in proper written form.

In the case of an annual meeting of shareholders, notice to the
Corporation must be made not less than 30 nor more than 65 days prior to the
date of the annual meeting; provided, however, that in the event that the annual
meeting is to be held on a date that is less than 50 days after the date on
which the first public announcement of the date of the annual meeting was made,
notice may be made not later than the close of business on the 10^th
day following such public announcement. In the case of a special meeting of
shareholders (which is not also an annual meeting), notice to the Corporation
must be made not later than the close of business on the 15^th day
following the day on which the first public announcement of the date of the
special meeting was made.

The By-Law is effective immediately and will be placed before shareholders
for ratification at the next annual and special meeting of shareholders of the
Corporation. A copy of the By-Law has been filed under the Corporation's profile
at www.sedar.com.

About Spectral Diagnostics

Spectral is a Phase III company seeking U.S. FDA approval for
its lead theranostics product (Toraymyxin) for the treatment of septic shock.
Toraymyxin is a therapeutic hemoperfusion device that removes endotoxin, which
can cause sepsis, from the bloodstream. Directed by the Company's Endotoxin
Activity Assay (EAA™), the only FDA-cleared diagnostic for the risk of
developing sepsis, Spectral's EUPHRATES trial is the world's first theranostics
trial in the area of sepsis.

Spectral is listed on the Toronto Stock Exchange under the symbol SDI, and on the
OTC QX under the symbol DIAGF. For more information please visit www.spectraldx.com

Forward-looking statement

Information in this news release that is not current or
historical factual information may constitute forward looking information within
the meaning of securities laws. Implicit in this information, particularly in
respect of the future outlook of Spectral and anticipated events or results, are
assumptions based on beliefs of Spectral's senior management as well as
information currently available to it. While these assumptions were considered
reasonable by Spectral at the time of preparation, they may prove to be
incorrect.

Readers are cautioned that actual results are subject to a
number of risks and uncertainties, including the availability of funds and
resources to pursue R&D projects, the successful and timely completion of
clinical studies, the ability of Spectral to take advantage of business
opportunities in the biomedical industry, the granting of necessary approvals by
regulatory authorities as well as general economic, market and business
conditions, and could differ materially from what is currently expected.

The TSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this statement.

SOURCE: Spectral Diagnostics Inc.

For further information:

Spectral Diagnostics Inc.

Anthony Businskas
Executive Vice President and CFO
416-626-3233 ext.
2200

Adam Peeler
Investor Relations
416-815-0700 ext. 225
apeeler@tmxequicom.com

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