CALGARY, ALBERTA -- (Marketwire) -- 07/02/09 -- Stem Cell Therapeutics Corp. ("SCT" or the "Company") (TSX VENTURE: SSS) is pleased to announce an early warrant exercise incentive program (the "Program") designed to encourage the early exercise of up to 17,250,000 outstanding share purchase warrants (the "Warrants") for gross proceeds of up to $2,760,000. The Program will be open for a 30 day period which is anticipated to commence on July 8, 2009, and end on August 7, 2009 (the "Early Warrant Exercise Period"), subject to the approval of the TSX Venture Exchange ("TSXV"). Holders of Warrants may exercise their Warrants at a discounted price of $0.16 per Warrant during the Early Warrant Exercise Period. Prior to and following the early Warrant Exercise Period, the outstanding Warrants are exercisable to acquire common shares of the Company at a price of $0.50 per share.

Dr. Alan Moore, President & CEO, commented as follows:

"We believe the Program offers our warrantholders and shareholders a win-win opportunity. The Program will provide SCT with additional low-cost capital to reach and potentially accelerate our clinical and R&D milestones without increasing overall dilution to shareholders."

The Warrants were originally issued as part of a bought deal financing completed on November 9, 2007, have an exercise price of $0.50 per Warrant and expire on May 9, 2010.

The terms and conditions of the Program and the method of exercising Warrants pursuant to the Program will be set forth in a formal Notice, which will be mailed to the registered address of each warrantholder and posted on SEDAR once the Program is approved by the TSXV. The TSXV has indicated that its approval will, in part, be contingent on no registered holders of outstanding Warrants objecting to the Program within three days of the date of this news release. Accordingly, any registered holders of Warrants who have any questions or concerns with respect to the Program are asked to contact Chloe Douglas-Crampton, Corporate Secretary of the Company, at 403-245-5495, extension 221.

About Stem Cell Therapeutics Corp.: Stem Cell Therapeutics Corp. is a Canadian public biotechnology company (TSX VENUTRE: SSS) focused on the development and commercialization of drug-based therapies to treat central nervous system diseases. SCT is a leader in the development of therapies that utilize drugs to stimulate a patient's own resident stem cells. The Company's programs aim to repair brain and nerve function lost due to disease or injury. The Company's extensive patent portfolio of owned and licensed intellectual property supports the potential expansion into future clinical programs in numerous neurological diseases such as traumatic brain injury, multiple sclerosis, Huntington's disease, Alzheimer's disease, and ALS.

These securities have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons unless an applicable exemption from U.S. registration requirements is available.

Except for historical information, this press release may contain forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.