Genesis Bioventures Announces eFund Capital Management, LLC Becomes Active Investor and Financial Consultant for Strategic Development and Financing

Genesis Bioventures, Inc. (OTCBB:GBIW) today announced that it entered into an Agreement with eFund Capital Management, LLC (eFund) for corporate financing and strategic development. Under the Agreement eFund will provide additional financing to the Company, advise the Company on restructuring and corporate development, and manage the Company’s senior financing. eFund Capital Management, LLC is a private equity firm dedicated to providing capital and strategic support to both public and private companies. The firm is a long-term investor that builds value by contributing financial, strategic, technical and operational resources. eFund invests in growth industries with a focus on technology, financial services and manufacturing. eFund has funded numerous start-up and turn-around companies including, among others, Force Protection, Inc. (NASDAQ: FRPT), which was valued at less than $1 million when eFund became involved and has increased its market capitalization over 500% in the last twelve months to over $1.6 billion. "We are very pleased to be working with eFund Capital Management for our continued development and corporate financings,” said Douglas C. Lane, Chairman and CEO of Genesis Bioventures. "The partners at eFund, Mr. Barrett Evans and Mr. Jeffrey Conrad, Esq., have developed outstanding success by identifying undervalued companies and providing sound strategic guidance and financial resources that unlock value for investors and shareholders worldwide.” Mr. Evans is eFund’s managing partner. He began his career with Cruttenden Roth, a California regional emerging growth focused investment bank. He has significant relationships with institutional investors in private equity and debt offerings and has engaged in all facets of investment banking from private debt and equity financing to Initial Public Offerings, retail brokerage and institutional trading, Mezzanine financing and bridge capital. Mr. Evans is a graduate of the University of California, Santa Barbara. Mr. Conrad is a securities attorney and partner in eFund. He has accumulated successful experience in all facets of investment banking including portfolio management, mergers and acquisitions, financial analysis, and legal analysis. He was formerly with Gibson, Dunn and Crutcher and Universal Pictures. Mr. Conrad is a graduate of the University of California, Los Angeles and received his Juris Doctorate degree from Loyola Law School. "eFund’s commitment to our Company is substantial. They recognize the inherent value of Genesis Bioventures in our breast cancer diagnostic business and the potential breast cancer therapeutic assets.” Said Mr. Lane. "We are delighted they chose to be active investors in our Company and to add Genesis Bioventures to their portfolio of companies.” eFund previously invested in Genesis Bioventures in May in a convertible debenture and established a $10 million equity line of credit for the Company. The terms of the current agreement were not disclosed. About eFund Capital Management, LLC eFund Capital Management, LLC is a private equity firm dedicated to providing capital and strategic support to public and private companies. The firm is an active, long-term investor in businesses where it builds value by contributing financial, strategic, technical and operational resources. Its contributions include developing and implementing growth strategies; identifying sales opportunities; evaluating and consummating add-on acquisitions; building management teams; and raising capital. eFund makes investments targeting sustainable equity appreciation, either through control ownership or strategic minority investments. It has extensive experience with a variety of deal structures to take advantage of its flexible capital approach. Its investments range in size from $250,000 to $5 million. About Genesis Bioventures, Inc. Genesis Bioventures, Inc. is a biomedical development corporation focusing on the development and commercialization of its owned and licensed assets for diagnostic and therapeutic product development. Statements in this press release that are not strictly historical facts are "forward-looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements.