BURNABY, BRITISH COLUMBIA--(Marketwire - Sept. 26, 2012) - Lifebank Corp. (TSX VENTURE:LBK) today advises that, in accordance with the Support Agreement between Lifebank and Insception Biosciences Inc. dated August 9, 2012, all five members of Lifebank's Board of Directors resigned yesterday evening. These members are F. Ernest Stacey, J. Douglas Seppala, Wayne A. Jefferson, Jonathan Pollack and Alan C. Herrington. Richard Lockie, Larry Klar and Richard Reid, nominees of Insception, have been appointed to Lifebank's Board of Directors.

About Lifebank

Started in 1996, Lifebank is a leading national company in the biomedical field based at the British Columbia Institute of Technology campus in Burnaby. Lifebank provides processing and cryogenic storage of umbilical cord blood stem cells for families in Canada and worldwide. With proven quality systems, Lifebank provides informed parents with the comfort that their children's cord blood stem cells are processed and stored by an experienced, professional and dedicated organization. Lifebank's website can be found at [ www.lifebank.com ].

Other Information

Certain statements made herein are forward-looking statements that involve risks and uncertainties. Often, but not always, forward looking statements can be identified by the use of words such as "plans", "expects", "expected", "scheduled", "estimates", "intends", "anticipates", or "believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements reflect Lifebank's best judgment based on current information, factors and assumptions, and although the parties base these statements on circumstances that the parties believe to be reasonable when made, there can be no assurance that future events will not affect the accuracy of such forward-looking information. As such, the forward-looking statements are not guarantees of future performance or actions, and actual performance and actions may vary materially from the actions and expectations discussed in this press release.

Lifebank disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.