Oncolytics Biotech Announces Listing on Nasdaq Capital Market CALGARY, AB and

Oncolytics Biotech Announces

Listing on Nasdaq Capital Market

CALGARY, AB and SAN DIEGO, June 1, 2018

- Oncolytics Biotech Inc. (TSX: ONC) (NASDAQ: ONCY), currently developing REOLYSIN (pelareorep),

an intravenously delivered immuno-oncolytic virus turning cold tumors hot, today announced that its shares of common stock were

approved for listing on the Nasdaq Capital Market. Oncolytics Biotech's common stock will commence trading on the Nasdaq

Capital Market today, June 1, 2018, under the symbol "ONCY".

"Listing on Nasdaq, a premier U.S. stock

exchange, represents another significant milestone for Oncolytics and our shareholders," said Dr. Matt Coffey, President

and CEO of Oncolytics Biotech. "As a Nasdaq-listed company, we expect to have the opportunity to broaden our exposure to

biotech focused institutional investors, diversify our shareholder base, expand our access to capital, and increase the liquidity

Oncolytics' common stock will continue

to trade on the Toronto Stock Exchange (TSX) under the trading symbol "ONC".

About Oncolytics Biotech Inc.

Oncolytics is a biotechnology company developing

REOLYSIN , also known as pelareorep, an intravenously delivered immuno-oncolytic virus. The compound induces selective

tumor lysis and promotes an inflamed tumor phenotype - turning "cold" tumors "hot" - through innate and adaptive

immune responses to treat a variety of cancers. Oncolytics' clinical development program emphasizes three pillars: chemotherapy

combinations to trigger selective tumor lysis and immuno-therapy and immune modulator (IMiD) combinations to produce innate and

adaptive immune responses. Oncolytics is currently planning its first registration study in metastatic breast cancer, as well as

studies in combination with checkpoint inhibitors and targeted and IMiD therapies in solid and hematological malignancies. For

further information, please visit: www.oncolyticsbiotech.com.

This press release contains forward-looking

statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and forward-looking information

under applicable Canadian securities laws (such forward-looking statements and forward-looking information are collectively referred

to herein as "forward-looking statements"). Forward-looking statements, including the Company's belief as to the potential

and mode of action of REOLYSIN, also known as pelareorep, as a cancer therapeutic; the commencement of trading of the common shares

on the Nasdaq Capital Market and the anticipated benefits thereof; and other statements related to anticipated developments in

the Company's business and technologies involve known and unknown risks and uncertainties, which could cause the Company's actual

results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others,

the availability of funds and resources to pursue research and development projects, the efficacy of pelareorep as a cancer treatment,

the success and timely completion of clinical studies and trials, the Company's ability to successfully commercialize pelareorep,

uncertainties related to the research and development of pharmaceuticals, uncertainties related to the regulatory process and general

changes to the economic environment. Investors should consult the Company's quarterly and annual filings with the Canadian and

U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors

are cautioned against placing undue reliance on forward-looking statements. The Company does not undertake to update these forward-looking

statements, except as required by applicable laws.