Navigation Links
Bioniche Warrants' Expiration Date to be Extended
Date:2/17/2009

- will be delisted then extended as unlisted warrants to May 12, 2009 -

BELLEVILLE, ON, Feb. 17 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. (TSX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, announced today that it will extend the expiration date of the up to 8,203,334 common share purchase warrants issued as part of a unit offering that closed in March, 2007. 7,676,554 of these warrants, currently listed for trading on the TSX (TSX: BNC.WT), will be delisted following their original expiration date of March 13, 2009. At that time, the Company will extend the expiration date of the warrants to May 12, 2009, subject only to the filing of final documentation with the Toronto Stock Exchange (TSX).

Each common share purchase warrant entitles the holder to purchase a common share at an exercise price of $1.40 per share.

The expiry date on a further 1,027,308 broker warrants will also be extended by 60 days to May 12, 2009. These are exercisable for units, each consisting of one Bioniche common share and one-half of a warrant to purchase a Bioniche common share at $1.20 per unit.

"Our Board of Directors took this decision to allow additional time for the investors in Bioniche to evaluate the Company's ongoing progress in achieving its stated objectives, in particular, addressing its near-term capital needs," said Graeme McRae, Chairman, President & CEO of Bioniche Life Sciences Inc. "The Board is of the opinion that recent market conditions have depressed the value of both the common shares and the common share purchase warrants. Advance notice of this extension fairly treats current and prospective warrant investors and is in conformance with TSX regulations."

The extension will not apply to warrants held by insiders of the Company.

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 Reports Fiscal 2009 Second Quarter
2. Bioniche Invited to Participate in Canadian Beef Value Chain Roundtable
3. Bioniche Named One of the Top 50 Best Small and Medium Employers in Canada
4. Bioniche Presents MCC Data at the SIU World Uro-Oncology Update in Santiago, Chile
5. Bioniche Reports Fiscal 2009 First Quarter
6. Bioniche Allows Conversion of Portion of Revolving Credit Facility
7. Bioniche Presents E. coli O157:H7 Vaccine Data to World Buiatrics Congress in Budapest, Hungary
8. Bioniche Hosts Veterinarians and Food Industry Reps at Two-Day E. coli O157:H7 Vaccine Conference
9. Bioniche Secures Final Financing to Scale-up E. coli O157:H7 Vaccine Production
10. Bioniche Presents E. coli O157:H7 Vaccine Data to International Congress of Medical Microbiology in Serbia
11. Bioniche Presents Pre-Clinical Research at Two International Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/21/2017)... ... 21, 2017 , ... With ProSlideshow Portrait from Pixel Film Studios creating a ... select from up to two layers of subject matter along with fully customizable backdrop ... Final Cut Pro X. , With ProSlideshow Portrait each user are given ...
(Date:9/21/2017)... Falls Church, VA (PRWEB) , ... September 21, ... ... **An FDAnews Webinar**, Sept. 26, 2017 — 1:30 p.m. – 3:00 p.m. ET, ... exacting business. It’s easy to get things wrong, run afoul of The Quality ...
(Date:9/21/2017)... Angeles, CA (PRWEB) , ... September 21, 2017 ... ... a lunch and learn with Infinity Behavioral Health Services for professionals in the ... in a Commercial Payer Audit . , Insurance companies and state and ...
(Date:9/21/2017)... IL. (PRWEB) , ... September 21, 2017 , ... ... results released today of a new member survey conducted by the International ... restoration procedures performed from 2014 to 2016 rose 60 percent, with 635,189 procedures ...
(Date:9/21/2017)... ... September 21, 2017 , ... Bill Howe Plumbing’s mission is to create an ... to the community. For over 37 years, they have operated with their mission at ... in San Diego. They were chosen as the Best San Diego plumber in ...
Breaking Medicine News(10 mins):
(Date:9/5/2017)... , Sept. 5, 2017 Oramed Pharmaceuticals Inc. ... ), a clinical-stage pharmaceutical company focused on the development ... has successfully concluded its meeting with the U.S. Food ... oral insulin formulation. ... the regulatory pathway for submission of ORMD-0801, would be ...
(Date:9/1/2017)... Sept. 1, 2017  Explorers Like Us ( https://explorerslikeus.com/ ) ... aural experiences — and deliver these experiences as part of ... people feel and heal better. ... While nothing beats a walk, jog or ... mind, Life Environments™ is the next best thing when getting ...
(Date:8/31/2017)... NEW YORK , Aug. 31, 2017 ... the industry,s must-read guide to the latest innovations happening ... the first industry publication to focus on providing a ... advancements. Ultimately, the issue covers the most innovative companies, ... year. "Everyone in ...
Breaking Medicine Technology: