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BELLEVILLE, ON, Sept. 16, 2014 /CNW/ - Bioniche Life Sciences Inc.
("Bioniche" or the "Company") (TSX: BNC), a late stage biotechnology
company, today announced that it has filed a final short form
prospectus with the securities regulatory authorities in all Canadian
provinces except Quebec in connection with its previously announced
equity offering (the "Offering") of units (the "Units") through Dundee
Securities Ltd., as lead agent, Clarus Securities Inc. and Euro Pacific
Canada Inc. (collectively, the "Agents") on a best efforts basis. Bloom
Burton & Co. Inc. has been appointed as a selling group member.
The Offering is for a minimum of 21,800,000 Units at a price of $0.23
per Unit for aggregate gross proceeds to the Company of a minimum of
$5,014,000. Each Unit consists of one common share (a "Common Share")
and one-half of a warrant. Each whole warrant (a "Warrant") will
entitle the holder to purchase one Common Share at price of $0.30 for a
period of 60 months following the issuance thereof. The Offering is
expected to close on or about September 23, 2014. Closing of the
Offering is subject to customary conditions and regulatory approval,
including that of the Toronto Stock Exchange.
The Company has granted the Agents an option (the "Over-Allotment
Option") to cover over-allotments and for market stabilization
purposes, exercisable in whole or in part, until the date that is 30
days after the date of closing of the Offering, to sell up to 3,270,000
additional Units (the "Over-Allotment Units") at a price of $0.23 per
Unit or 1,635,000 Warrants (the "Over-Allotment Warrants") at a price
of $0.12 per Warrant, or a combination of both, so long as the
aggregate number of Over-Allotment Units and Over-Allotment Warrants
does not exceed 15% of the number of Units issued under the Offering
(excluding the Over-Allotment Option).
The net proceeds of the Offering will be used by the Company to complete
the filing with the United States Food & Drug Administration of a
Biologics License Application for their lead program Mycobacterium
phlei cell wall-nucleic acid complex for the treatment of patients with
high grade non-muscle invasive bladder cancer that have failed Bacillus
Calmette-Guérin therapy, and for working capital and general corporate
The final short form prospectus is available at www.sedar.com, at www.Bioniche.com, or by contacting the Company.
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
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 contains
forward-looking statements, including, without limitation, the intended
use of proceeds from the Offering 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:
Donald Olds, Chief Operating Officer
Bioniche Life Sciences Inc.
Telephone: (613) 966-8058