Mr. Donald Olds reports
BIONICHE LIFE SCIENCES ANNOUNCES OVERNIGHT MARKETED OFFERING
Bioniche Life Sciences Inc. has filed a preliminary short-form prospectus with the securities regulatory authorities in each of the provinces of Canada, excluding Quebec, in connection with an overnight marketed offering, with Dundee Securities Ltd. acting as the sole agent. The offering will consist of units of the company, at a price per unit and structure to be determined in the context of the market. In connection with the offering, Bloom Burton & Co. Inc. has been appointed as a selling group member.
The offering is scheduled to close on or about Sept. 10, 2014. The offering is subject to a number of conditions, including without limitation, receipt of all regulatory approvals.
The net proceeds of the offering will be used by the company to complete the filing with the United States Food & Drug Administration of a biologics licence application (BLA) for its lead program mycobacterial cell wall nucleic acid complex (MCNA) for the treatment of patients with high-grade non-muscle-invasive bladder cancer that have failed bacillus calmette guerin (BCG) therapy, and for working capital and general corporate purposes.
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