Bioniche Files Final Prospectus For Equity Offering


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 purposes.

The final short form prospectus is available at, at, 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 unlawful.

About Bioniche

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.

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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

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Bioniche Life Sciences Inc.

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