Navigation Links
Bioniche Revolving Credit Facility Maturity Date Amended
Date:3/2/2009

BELLEVILLE, ON, March 2 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that the Company has amended the maturity date of its existing secured revolving credit facility with Valens U.S. (formerly Laurus Master Funds).

On October 31, 2008, Bioniche and Valens agreed to a near-term extension of this facility, originally scheduled to mature on December 19, 2008. This extension was provided to the Company in order to allow it time to identify new banking partner(s), after Valens decided to withdraw its credit due to recent market conditions. The original revolving credit facility was established in 2005.

This amendment will replace the previously agreed maturity date of March 2, 2009 with an "on demand" status, with the expectation that the Company will meet its near-term corporate objectives. There are no fees or penalties resulting from this amendment.

About Bioniche Life Sciences Inc.

Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary products for human and animal health markets worldwide. The fully-integrated company employs approximately 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. Bioniche has been named one of the Top 50 Best Small and Medium-Sized Employers in Canada for 2009. For more information, please visit www.Bioniche.com.

Except for historical information, this news release may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, 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.


'/>"/>
SOURCE Bioniche Life Sciences Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Bioniche Responds to Australian Equine Influenza Outbreak
2. Bioniche Receives $2 Million Government Grant For Market Development Related to its E. coli O157:H7 Cattle Vaccine
3. Bioniche Food Safety Vaccine Receives Global Top Honours in Industry Excellence Awards
4. Bioniche Receives Comment from USDA on a Field Trial for E. coli O157:H7 Cattle Vaccine
5. Media Advisory - Bioniche Discusses USDA Comment on E. coli O157:H7 Cattle Vaccine Field Trial
6. Bioniche to Present at Rodman & Renshaw 9th Annual Healthcare Conference
7. Bioniche Reports Fiscal 2008 First Quarter
8. Bioniche Receives $5 Million of Federal Government Support to Scale-up Vaccine Production in Ontario
9. Bioniche Amends Terms of Convertible Debt with Laurus Master Funds
10. USDA Agrees to Grant Conditional License to Bioniche for its E. coli O157:H7 Cattle Vaccine
11. Bioniche Reports Fiscal 2008 Second Quarter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... , ... December 07, 2016 , ... ... Dallas, Texas, is condemning "scam operations" carried out by unethical locksmith companies and ... scam operations to a halt. According to Texas Premier Locksmith, these fraudulent locksmith ...
(Date:12/7/2016)... Ohio (PRWEB) , ... December 07, 2016 , ... ... in the 2016 BOC Business Brilliance Awards under the Best New Product Launch ... and results achieved through user experience. , BOC Global Events & Training Group ...
(Date:12/7/2016)... ... 07, 2016 , ... “Tomorrow Trump Goes To Washington”: a brief but ... presidency and to America. “Tomorrow Trump Goes To Washington” is the creation of published ... for this country. , Nancy attributes her patriotic nature to her WWII veteran father. ...
(Date:12/7/2016)... (PRWEB) , ... December 07, 2016 , ... ... the fifth annual Business Architecture Innovation Summit in Reston, VA on March 21-22, ... who will share a range of experiences from a cross-section of industries such ...
(Date:12/6/2016)... ... December 06, 2016 , ... ... networks that can be seen on a type of MRI, according to a ... progressive disorder of the central nervous system characterized by tremors or trembling and ...
Breaking Medicine News(10 mins):
(Date:12/6/2016)... bringing their 100% all-natural lice removal service to Brooklyn ... th Street was specifically chosen to make treatment convenient for ... is to ease parents, stress and bring their lives back under ... to class without skipping a beat. The best part is that ... family," Licenders President Adie Horowitz states. ...
(Date:12/6/2016)... LONDON , Dec. 6, 2016 Diabetes ... The diabetes and obesity disease cluster is currently ... (T1DM) and type 2 diabetes mellitus (T2DM), and the ... and quality of products, is attributable to these indications. ... a large market presence, there are a large number ...
(Date:12/6/2016)... , Dec. 6, 2016 Human Vaccines ... in-depth region wise and country wise analysis of ... include manufacturers of human vaccines products, raw material ... to enter the market. The report provides ... vaccines market. Qualitative analysis comprises market dynamics, trends, ...
Breaking Medicine Technology: