EDITOR: | August 22nd, 2014

Bioniche Life Sciences Announces Terms of $5 Million Financing & Use of Proceeds

| August 22, 2014 | No Comments
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August 22, 2014 (Source: Marketwired) — NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Bioniche Life Sciences Inc. (the “Company”) (TSX:BNC), is pleased to announce the terms of its previously announced overnight marketed public offering (the “Offering”) with a syndicate of agents led by Dundee Securities Ltd., and including Clarus Securities Inc. and Euro Pacific Canada Inc. (together, the “Agents”). In connection with the Offering, Bloom Burton & Co. Inc. has been appointed as a selling group member.

The Offering will consist of 21,800,000 units of the Company (the “Units”), each Unit consisting of one common share (each, a “Share”) and one-half of one common share purchase warrant (each, a “Warrant” and together, the “Warrants”) at a price per Unit of $0.23 (the “Offering Price”) for aggregate gross proceeds of $5,014,000. Each whole Warrant will entitle the holder thereof to acquire one Share of the Company at a price per Share of $0.30 for a period of 60 months following the issuance thereof.

The Company plans to file an amended preliminary prospectus today reflecting the terms herein. The Offering is scheduled to close on or about September 10, 2014. The Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals.

The net proceeds of the Offering will be used by the Company to complete the filing with the United States Food & Drug Administration (FDA) of a Biologics License Application (BLA) for their lead program Mycobacterial Cell Wall-Nucleic Acid Complex (MCNA) for the treatment of patients with high grade non-muscle invasive bladder cancer that have failed Bacillus Calmette-Guérin (BCG) therapy, and for working capital and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Bioniche Life Sciences Inc.

Bioniche Life Sciences Inc. is a late clinical stage Canadian biopharmaceutical company focused on the, licensing/acquisition, development, manufacturing, and marketing of proprietary and innovative therapies for the global human health market. The Company’s primary goal is to develop and commercialize products that advance human health and increase shareholder value. For more information, please visit www.Bioniche.com.

Except for historical information, this news release may contain “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws that reflect the Company’s current expectation regarding future events, including, without limitation, the proposed use of proceeds and the timing and completion of the Offering. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while, considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements and information. These forward-looking statements and information involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company’s ongoing quarterly and annual reporting. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.


Raj Shah

Editor:

Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>


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