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YM BioSciences to raise approximately US$15 million
Date:3/5/2010

MISSISSAUGA, ON, March 5 /PRNewswire-FirstCall/ - YM BioSciences Inc. (NYSE YMI, TSX:YM), today announced that it is raising approximately US$15 million in a "registered direct" offering of units at a price of US$1.20 per unit. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of US$1.60 commencing six months from closing for a period of five years from closing. Roth Capital Partners, LLC, served as lead placement agent. Bloom Burton & Co. Inc., Griffin Securities, Inc. and Haywood Securities Inc. served as co-placement agents for the transaction.

The funds will be used principally to fund YM's drug development activities and for general corporate purposes.

The transaction is expected to close on or about March 10, 2010, pending stock exchange app
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SOURCE YM BioSciences Inc.
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