Bioniche Files Final Prospectus for Canadian Equity Offering


BELLEVILLE, ON, Sept. 18, 2013 /CNW/ - Bioniche Life Sciences Inc. ("Bioniche" or the "Company") (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has filed a final short form prospectus in all Canadian provinces with the exception of Quebec, Prince Edward Island and Newfoundland and Labrador for an equity offering (the "Offering") of units priced at $0.29 per unit. Each unit includes one Common Share and one-half of a Warrant exercisable at $0.40 for two years. Due to demand, the Offering size has been increased to $9,000,000 and the proposed over-allotment option was cancelled. A private placement on identical terms to raise an additional $804,500 less expenses is expected to be completed with three related parties.

The Offering was pursued on a best efforts basis pursuant to an agency agreement between the Company and Euro Pacific Canada Inc. (the "Agent"). The preliminary short form prospectus was filed on August 6, 2013.

The net proceeds from the Offering will be used to support the development of the Company's Phase III bladder cancer product, Urocidin™ and for general corporate purposes. This additional funding will help to ensure that the Company is adequately capitalized as it completes the divestment of its Animal Health business unit, a process that began in May, 2013.

The final short form prospectus document will be available for viewing and downloading at, at, or by contacting the Company.

Update on Divestment of Animal Health/One Health Businesses

The Company engaged Evercore to lead the divestment process. A short list of interested counterparties has been identified, and they are conducting due diligence at this time. The process is proceeding well, and Evercore is pleased with the level of interest.

The Company had expected to have offer terms to present to its shareholders at the Annual Meeting of Shareholders on November 5, 2013. However, due to the current anticipated timing for receiving final terms, the Company anticipates that the proposed sale transaction will be presented to shareholders to vote on at a separate shareholders' meeting to be held after the Annual Meeting of Shareholders. Such sale transaction is expected to be completed by early calendar 2014.

The securities offered under the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any securities laws of any state of the United States, and may not be offered or sold directly or indirectly in the United States or to, or for the account or benefit of, a "U.S. Person" (as defined in Regulation S under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable securities laws of any state of the United States. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or to, or for the account or benefit of, a "U.S. Person," nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Bioniche

Bioniche is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary and innovative products for human and animal health markets worldwide. The fully-integrated Company has three operating divisions: Human Health, Animal Health, and One Health.

For more information, please visit

Except for historical information, this news release contains forward-looking statements, including, without limitation, the intended use of proceeds from the Offering and the Company's future plans, including, but not limited to, the timing for such plans, that reflect the Company's current expectations regarding future events. These forward-looking statements involve risk and uncertainties, which may include, 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. Bioniche does not undertake to update any forward-looking statement or forward-looking information that is included herein, except in accordance with applicable laws.

SOURCE: Bioniche Life Sciences Inc.

For further information:

Jennifer Shea, Vice-President, Communications, Investor & Government Relations
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058; from Australia: 0011 1 613-966-8058
Cell: (613) 391-2097; from Australia: 0011 1 613-391-2097

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Bioniche Life Sciences Inc.

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