Effective as of December 21, 2012, the Board of Directors of MetaStat, Inc. appointed Oscar M. Bronsther, M.D., F.A.C.S., its Chief Executive Officer. Dr. Bronsther has been the company's Chief Medical Officer and Chairman of its Board of Directors since April 7, 2012. Dr. Bronsther has retained his position as Chief Medical Officer but has resigned his position as Chairman of its Board of Directors.

Dr. Bronsther will remain a member of its Board of Directors. Oscar M. Bronsther, M.D., F.A.C.S. is a Diplomat, American Board of Surgery, and since November 2008, has served as the Chairman, Section of General Surgery, at Inova Fairfax Hospital. Effective as of December 21, 2012, Warren C. Lau resigned his position as Chief Executive Officer of the company but has retained his positions as President and Chief Financial Officer of the company.

Mr. Lau will also remain a member of its Board of Directors. Effective as of December 21, 2012, the Board of Directors of the company appointed Johan M. (Thijs) Spoor as Chairman of its Board of Directors. Mr. Spoor has been a member of its Board of Directors since April 7, 2012.

Effective as of December 21, 2012, the Board of Directors of the company appointed Daniel H. Schneiderman as Vice President of Finance. Mr. Schneiderman has served as the company's Vice President and Controller since February 27, 2012. Mr. Schneiderman has ten years of investment banking and corporate finance experience, focusing on private and public equity for small and mid-market capitalization companies mainly in the healthcare and life sciences sectors.