BELLEVILLE, ON
& MONTRÉAL, Oct. 19 /PRNewswire/
- Bioniche Life Sciences Inc. (TSX: BNC), a research-based,
technology driven Canadian biopharmaceutical company, today
announced that one of its major shareholders - the Fonds de
solidarité FTQ - has converted the remainder of its Series 2
Preferred Shares to Common Shares. The total number of Common
Shares issued to the Fonds de solidarité FTQ is 6,521,677.
The initial investment in Bioniche Life Sciences
Inc. was made in November, 2004, with the Fonds de solidarité FTQ
investing $10 million and the
Bio-Food Investment Fund investing $2
million, both in Series 2 Preferred Shares. The Fonds de
solidarité FTQ has since acquired the Bio-Food Investment Fund's
participation. The Fonds de solidarité FTQ converted 25% of its
holding in June, 2007. This latest conversion represents the
remainder of the holding.
"Bioniche continues to appreciate the support of
the Fonds de Solidarité FTQ as the Company grows and evolves," said
Graeme McRae, Chairman, President
& CEO of Bioniche Life Sciences Inc.
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 211 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. 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 . 19 PR Newswire