Effective as of October 15, 2014, the board of directors of the MetaStat, Inc. appointed Mr. Richard J. Berman and Mr. H. Philip Goodeve to the Board and accepted the resignations of Mr. Warren Lau and Dr. Patrick Mooney. In addition, Mr. Johan M. (Thijs) Spoor resigned as Chairman of the Board while still remaining a member of the Board. The resignations were not due to disagreements on any matter relating to the Company's operations, policies or practices.

Mr. Berman will serve as lead independent director and Chairman of the Company's Nominating and Corporate Governance Committee, as well as a member of the Company's Compensation Committee. Mr. Goodeve will serve as a member of the Company's Compensation Committee and Audit Committee. Richard J. Berman's business career spans over 35 years of venture capital, senior management and merger and acquisitions experience.

In the past 5 years, Mr. Berman has served as a director and/or officer of over a dozen public and private companies.