BELLEVILLE, ON, Dec. 11, 2013 /CNW/ - Bioniche Life Sciences Inc. (TSX:
BNC, ASX: BNC), a research-based, technology-driven Canadian
biopharmaceutical company, today announces that the Australian
Securities Exchange (ASX) has approved the Company's application to
delist from the official list of the ASX subject to certain usual
The conditions include the requirement to communicate to all holders of
CHESS Depositary Interests (CDIs) advising of the date of intended
delisting and the method by which they may sell their securities on the
Toronto Stock Exchange (TSX), including the steps that must be
undertaken to convert their CDIs to Common Shares. It is anticipated
that the information document setting out this information will be sent
to CDI holders in late December.
The Company announced its intention to delist on December 1, 2013 due to
the very low level of trading on the ASX, the small number of CDIs
remaining, and the significant liquidity for Bioniche shares on the
TSX. As a result of the delisting, the Company expects to realize a
savings in administrative and compliance obligations which will result
in cost savings.
Following the delisting, Bioniche Common Shares will continue to trade
on the TSX.
About Bioniche Life Sciences Inc.
Bioniche Life Sciences Inc. 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 employs more than 200 skilled personnel and
has three operating divisions: Human Health, Animal Health, and One
Health. The Company's primary goal is to develop and commercialize
products that advance human or animal health and increase shareholder
For more information, please visit www.Bioniche.com.
Except for historical information, this news release may contain
forward-looking statements that reflect the Company's current
expectation regarding future events. These forward-looking statements
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
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