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Bioniche Reports Fiscal 2008 Third Quarter
Date:5/9/2008

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Proceeds from

deferred

government

incentives - - 49,965 74,282

Proceeds from

revolving credit

facility 8,500,864 5,895,962 21,952,839 15,948,279

Repayment of

revolving credit

facility (5,838,724) (4,706,109) (16,219,244) (15,411,793)

Repayment of

obligations under

capital lease (20,663) (26,126) (84,986) (84,385)

Repayment of senior

and other long-term

debt (5,140) (56,412) (14,752) (3,290,561)

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Cash provided by

financing

activities 4,343,337 16,643,062 7,390,822 12,771,569

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Net increase in cash

and cash

equivalents during

the period 2,167,428 11,094,893 7,283,779 10,626,995

Cash and cash

equivalents,

beginning of

period 6,639,948 3,625,395 1,523,597 4,093,293

-------------------------------------------------------------------------

Cash and cash

equivalents, end

of period 8,807,376 14,720,288 8,807,376 14,720,288

-------------------------------------------------------------------------

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SOURCE Bioniche Life Sciences Inc.
Copyright©2008 PR Newswire.
All rights reserved

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