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Bioniche Reports Fiscal 2007 Year-End Results
Date:9/26/2007

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(11,603,614) (12,489,285)

Net change in non-cash working capital balances 615,806 (1,552,485)

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Cash used in operating activities (10,987,808) (14,041,770)

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INVESTING ACTIVITIES

Payment relating to acquisition of net assets - (123,120)

Acquisition of short-term investments (11,000,548) -

Proceeds from maturity of short-term investments 1,500,548 -

Government incentives received on account of

property, plant and equipment 30,224 54,422

Proceeds on disposal of property, plant and

equipment 4,786 11,888

Proceeds from sale (purchase) of investment 3,196,200 (1,740,146)

Selling costs incurred for sale of investment

and future royalty stream (100,000) -

Proceeds from sale of right to future royalty

stream 3,652,800 -

Purchase of property, plant and equipment (623,520) (1,000,017)

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Cash used in investing activities (3,339,510) (2,796,973)

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FINANCING ACTIVITIES

Proceeds from bridge loan - 8,681,250

Proceeds from units issued 17,500,000 1,102,993

Proceeds from over-allotment warrants issued 22,500 -

Proceeds from exercise of compensation warrants 23,730 -

Proceeds from exercise of stock opti
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SOURCE Bioniche Life Sciences Inc.
Copyright©2007 PR Newswire.
All rights reserved

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