Bioniche Confirms Pricing of Canadian Equity Offering

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BELLEVILLE, ON, Aug. 7, 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 and Euro Pacific Canada Inc. (the "Agent") have priced the best efforts equity offering (the "Offering") announced yesterday. Based upon orders and indications of interest received by the Agent, the Company confirms that each unit is priced at $0.29. The unit includes one Common Share and one-half of a Warrant exercisable at $0.40 for two years.

Completion of the Offering is subject to all regulatory approvals, including the Toronto Stock Exchange. Upon completion, the Company will be filing a final short form prospectus in all Canadian provinces with the exception of Quebec, Prince Edward Island and Newfoundland and Labrador. The document will be available for viewing and downloading at www.sedar.com, at www.Bioniche.com, or by contacting the Company.

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 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 Food Safety.

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 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.

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