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          August 25, 2010
August 20, 2010
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Corporate News ReleaseBioniche Files Preliminary Short-Form Prospectus for Offering of Units
09/02/07 BELLEVILLE, ON, February 8, 2007 – Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has filed a Preliminary Short Form Prospectus with all of the provincial securities regulatory authorities in Canada for an offering of units through a syndicate of underwriters led by Haywood Securities Inc. and including Desjardins Securities Inc. Each unit will consist of one common share and one-half of a common share purchase warrant. Each whole warrant will be exercisable to acquire an additional common share for a period of 24 months from closing of the offering. In addition, units will be offered in the United States on a private placement basis. Bioniche has granted the underwriters an over allotment option, exercisable in whole or in part for a period of 30 days following closing, to purchase up to an additional 15% of the number of common shares and warrants sold in the offering, solely to cover over-allotments, if any, and for market stabilization purposes. The Company intends to use the proceeds for the advancement of its Phase III trials of MCC and to advance strategic partnership discussions to assist in funding the Phase III program, for registration of the E. coli O157:H7 cattle vaccine, for the continued development of the Company’s other products and technologies and for working capital and general corporate purposes. Completion of the offering is subject to Toronto Stock Exchange approval. The units, the common shares, the warrants and the common shares underlying the warrants have not been, and will not be, registered under the U.S. Securities Act, and, subject to certain exceptions, may not be offered or sold in the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the U.S. Securities Act). The Underwriters have agreed that they will not offer or sell these securities within the United States or to, or for the account or benefit of U.S. Persons except to qualified institutional buyers (as defined in Rule 144A under the U.S. Securities Act). Until 40 days after the Closing Date, an offer or sale of the units within the United States by any dealer (whether or not participating in this offering) may violate the registration requirements of the U.S. Securities Act if such offer or sale is made otherwise than in accordance with Rule 144A. ###
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