Unilife Corp. (UNIS) to Postpone Q3 Call; Notes Possible Violations by Former Chairman, CEO

Unilife Corporation (NASDAQ: UNIS) announced that it is postponing its earnings conference call, originally scheduled to be held at 8:00 a.m. EDT on Monday, May 9, 2016 (Monday, May 9, 2016 at 10:00 p.m. AEST) due to the discovery by the Company's current management team of violations of Company policies and procedures and possible violations of law and regulation by the Company's former Chief Executive Officer and by the former Chairman of the Company's Board of Directors who resigned in 2015.

The Company is investigating these matters and their potential impact on financial reporting and internal controls over financial reporting, related to previously-issued financial statements, current interim financial information, and management's certifications. The investigation has just commenced due to the recent discovery by current management but has not to date discovered any financial loss to the Company.

The Company expects to delay filing its Form 10-Q for the period ended March 31, 2016 (the "Form 10-Q") with the Securities and Exchange Commission ("SEC") and file with the SEC a notification of late filing on Form 12b-25.

The Company will hold its Special Meeting of Shareholders as scheduled on Monday, May 9, 2016 at 4:00 p.m. EDT (6:00 a.m. AEST on Tuesday, May 10, 2016).

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