Press Release Details

AquaBounty Technologies, Inc.

Results for the quarter ended March 31, 2017

MAYNARD, Massachusetts, May 9, 2017 - AquaBounty Technologies, Inc. (NASDAQ: AQB; AIM: ABTU) ("AquaBounty" or the "Company"), a biotechnology company focused on enhancing productivity in the aquaculture market and a majority-owned subsidiary of Intrexon Corporation (NYSE: XON), announces the Company's financial results for the quarter ended March 31, 2017.

Financial and Operational Summary:

·     Completed a US$25.0 million equity subscription with Intrexon Corporation

·     Implemented a 1-for-30 reverse share split and completed the listing of the Company's common shares on the NASDAQ Capital Market

·     Continued to progress the Company's renovation plans at Rollo Bay and submitted a follow-on request to authorities to construct a broodstock facility and a grow-out facility on the site

·     Seeking shareholder approval to de-list the Company's common shares from trading on AIM

Ronald Stotish, Chief Executive Officer of AquaBounty, stated: "We are pleased by the progress we've made during the first quarter on our 2017 goals.  We completed the listing of our common shares on the NASDAQ Capital Market, aided by the infusion of $25.0 million in new equity from Intrexon.  This has allowed us to continue with, and expand upon, our plans to renovate the former Atlantic Sea Smolt plant in Rollo Bay on Prince Edward Island.  We have submitted an application to the provincial regulatory authorities for the construction of a broodstock facility to house our non-transgenic Atlantic salmon stock and a 250 metric ton recirculating aquaculture system ("RAS") facility to grow out our AquAdvantage® Salmon.  We see this as the first step in our commercialization plan.  We are also continuing to search for sites to establish our first RAS grow-out facility in the United States, and we expect to complete this process this year."

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  All statements other than statements of historical fact contained in this press release are forward-looking statements, including statements regarding the nature of and progress toward the Company's commercialization plan; the anticipated progress to be made by the Company during 2017; the completion of the Rollo Bay renovations and the regulatory approval for, and construction of, a broodstock facility and grow-out unit; and the establishment of a grow-out facility in the United States.  Forward-looking statements may be identified with words such as "will," "may," "expect," "plan," "anticipate," "upcoming," "believe," "estimate", or similar terminology, and the negative of these terms.  Forward-looking statements are not promises or guarantees of future performance, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements.  Forward-looking statements speak only as of the date hereof, and, except as required by law, we undertake no obligation to update or revise these forward-looking statements.  For additional information regarding these and other risks faced by us, refer to our public filings with the Securities and Exchange Commission ("SEC"), available on the Investors section of our website at www.aquabounty.com and on the SEC's website at www.sec.gov.

Enquiries:

Generally

AquaBounty Technologies, Inc.

David A. Frank, Chief Financial Officer              +1 978 648 6000

AIM Investors

Stifel Nicolaus Europe Limited

Stewart Wallace                                                +44 20 7710 7600

Luther Pendragon

Harry Chathli, Claire Norbury                            +44 20 7618 9100