Warnex Obtains Extension for the Repayment of its Debentures

Warnex Inc. (TSX:WNX) ("Warnex") announces that Persistence Capital Partners LP
("PCP"), the holder of its outstanding debentures (the "Debentures"), has agreed
to extend until April 19, 2012, the date by which Warnex must repay the
approximately $960,000 owing under the Debentures. PCP has granted this
extension to Warnex in recognition of the fact that Warnex is well advanced in
its process of securing a new credit facility which will provide it with the
funds necessary to repay the Debentures and to support future working capital
requirements. However, while Warnex is well advanced in this process, no
assurances can be given that Warnex will be successful in this regard.


Exchange Listing

As previously announced, the Toronto Stock Exchange ("TSX") had advised Warnex
that its common shares would be delisted on April 16, 2012 as a result of
Warnex's failure to meet the continued listing requirements of the TSX. In light
of the recent developments described above, the TSX has agreed to extend the
date of such delisting to the close of business on April 23, 2012. In
anticipation of such delisting, Warnex has been actively engaged with the TSX
Venture Exchange (the "TSXV") in an effort to transfer the listing of its common
shares to the TSXV or to the NEX trading board of the TSXV. Warnex expects to be
able to provide further information in this regard in the upcoming days.


About Warnex

Warnex (www.warnex.ca) is a life sciences company devoted to protecting public
health by providing laboratory services to the pharmaceutical sector. Warnex
Analytical Services provides pharmaceutical and biotechnology companies with a
variety of quality control services, including chemistry, chromatography,
microbiology, method development and validation, and stability studies. Warnex
Bioanalytical Services specializes in bioequivalence and bioavailability studies
for clinical trials. Warnex has two facilities located in Laval and Blainville,
Quebec.


CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this news release are forward-looking and are
subject to numerous risks and uncertainties, known and unknown. For further
information identifying known risks and uncertainties, relating to financial
resources, liquidity risk, key customers and business partners, credit risk,
foreign currency risk, government regulations, laboratory facilities, volatility
of share price, employees, suppliers, and other important factors that could
cause actual results to differ materially from those anticipated in the
forward-looking statements, please refer to the heading Risks and Uncertainties
in Warnex's most recent Management's Discussion and Analysis, which can be found
at www.sedar.com. Consequently, actual results may differ materially from the
anticipated results expressed in these forward-looking statements.