BriaCell Therapeutics Corp. Announces Closing of US$27.2 Million Private Placement Berkeley, Calif. And Vancouver, British Columbia

Therapeutics Corp. Announces Closing of US$27.2 Million Private Placement

Calif. And Vancouver, British Columbia, June 07, 2021 - (GLOBE NEWSWIRE) BriaCell Therapeutics Corp. (NASDAQ: BCTX, BCTXW)(TSX-V:BCT)

(the "Company" or "BriaCell"), a clinical-stage biotechnology company specializing in targeted immunotherapies

for advanced breast cancer, today announced that it has closed its previously announced private placement of (i) 4,370,343 common shares

at a purchase price of US$5.26, (ii) 800,000 pre-funded common share purchase warrants at a purchase price of US$5.25 (exercisable at

any time after the date of issuance at an exercise price of US$0.01 per common share) and (iii) 5,170,343 warrants to purchase up to

5,170,343 common shares, which resulted in gross proceeds to BriaCell of US$27.2 million, before deducting offering expenses (the "Offering").

The Company expects to use the net proceeds of the private placement to further advance its research and development pipeline and for

general corporate purposes.

a division of Fordham Financial Management, Inc. (the "Placement Agent"), acted as sole placement agent for the private placement

securities offered and sold by BriaCell in the private placement have not been registered under the Securities Act of 1933, as amended

(the "Securities Act"), or state securities laws and may not be offered or sold in the United States absent registration

with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements. BriaCell

has agreed to file a registration statement with the SEC covering the resale of the shares of common stock and shares underlying the

warrants issued in the private placement. Any resale of BriaCell's shares under such resale registration statement will be made

only by means of a prospectus.

connection with the Offering, the Company has agreed to: 1) pay the Placement Agent a cash commission equal to 8.0% of the gross proceeds

of the Offering; 2) reimburse the Placement Agent for all reasonable and out-of-pocket expenses of the Placement Agent; and 3) issue

to the Placement Agent compensation warrants (the "Compensation Warrants") equal to 5.0% of the common shares (or common

share equivalents in lieu thereof) sold in the Offering, subject to compliance with all required regulatory approvals. Each Compensation

Warrants will entitle the Placement Agent to purchase one common share of the Company at an exercise price per Compensation Warrant that

is equal to US$6.19 and have a term of 5 years from the closing of the Offering.

press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities

in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under

the securities laws of any such state or jurisdiction. The securities will not be registered under the Securities Act or any state securities

laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration

requirements of the Securities Act and applicable state laws.

BriaCell Therapeutics Corp.

is an immuno-oncology focused biotechnology company developing targeted and effective approaches for the management of cancer. More information

is available at https://briacell.com.

press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements,

other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements

contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate,"

"could," "estimate," "expect," "intend," "seek," "may," "might,"

"plan," "potential," "predict," "project," "target," "aim," "should,"

"will" "would," or the negative of these words or other similar expressions, although not all forward-looking

statements contain these words. Forward-looking statements are based on BriaCell's current expectations and are subject to inherent

uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions

as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully under the heading

"Risks and Uncertainties" in the Company's most recent Management's Discussion and Analysis, under "Risks

and Uncertainties" and in the Company's other filings with the Canadian securities regulatory authorities and the U.S. Securities

and Exchange Commission, all of which are available under our profiles on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Forward-looking statements contained in this announcement are made as of this date, and BriaCell Therapeutics Corp. undertakes no duty

to update such information except as required under applicable law.

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.