Lifeline Biotechnologies, Inc. (Pink Sheets: LLBO) announced today that it has retained legal counsel to resolve the trading issue with Depository Trust Corporation (DTC) in order to re-establish clearing services.

Jim Holmes, Lifeline’s CEO, said, “We have retained special counsel to assist us in re-establishing Depository Trust’s services to our Company. The law firm we have retained has been successful in re-establishing DTC’s services to other public companies who, the SEC alleges, were a part of the LEEB Brokerage Services’ questionable stock transactions, and is currently working with DTC’s outside legal counsel to remove the ‘chill’ that was placed on our stock in May.”

Holmes reaffirmed, “We have no association or knowledge of LEEB, its counterparts, representatives or their activities concerning the trading of Lifeline’s shares.”

DTC is the clearing agency for public stock transactions. The broker-dealers clear trades through DTC. Currently public stock trades transactions are cleared through the DTC electronic system.

The Company remains focused, and its priority is the preparation and submission of a First Warning System™ medical device 510(k) application and commensurate commercialization.

Lifeline’s website (www.lbti.com) has been comprehensively updated providing extensive information on the company, its history and current affairs.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, the ability to obtain financing, successful development of the Company's product or market acceptance of the product and regulatory and shareholder approval for anticipated actions.

Lifeline Biotech (CE) (USOTC:LLBO)
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