-effective January 27, 2011 at 11:00 a.m. AEST-
BELLEVILLE, ON, Jan. 27 /CNW/ - Bioniche Life Sciences Inc. (TSX&ASX:
BNC), a research-based, technology-driven Canadian biopharmaceutical
company, today announced that it has joined the official list of the
Australian Securities Exchange (ASX) and its securities are now trading
on that exchange under the code "BNC".
The ASX listing follows the Company's completion of an Australian Offer
of 8.6 million CHESS Depositary Instruments (CDIs) at A$1.45 per CDI.
Combined with an additional C$16.7 million raised through a concurrent
Canadian Offer of 11.5 million Common Shares at C$1.45 per Share that
closed on December 16, 2010, the Company raised a total of C$28.9
million in gross proceeds (based on actual exchange rates).
The holders of CDIs in Australia hold the beneficial ownership of the
equivalent number of Common Shares in the Company, while the legal
title in those Shares is held by a depositary nominee (in this case,
CHESS Depositary Nominees Pty Ltd (CDN), a wholly owned subsidiary of
the ASX). CDIs are held in uncertified form and enable investors to
hold and transfer their interests in foreign financial products
electronically through CHESS. CDIs must be converted into Shares in
order to trade on the TSX. Conversely, TSX-issued Shares must be
converted into CDIs in order to trade on the ASX.
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 products for
human and animal health markets worldwide. The fully-integrated company
employs 217 skilled personnel and has three operating divisions: Human
Health, Animal Health, and Food Safety. The Company's primary goal is
to develop proprietary cancer therapies supported by revenues from
marketed products in human and animal health. Bioniche Life Sciences
Inc. has been named one of the Top 50 Best Small and Medium-Sized
Employers in Canada for 2010. 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
Cell: (613) 391-2097