Bioniche Life Sciences joins Australian Securities Exchange

-effective January 27, 2011 at 11:00 a.m. AEST-

Bioniche Life Sciences Inc. (TSX&ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that it has joined the official list of the Australian Securities Exchange (ASX) and its securities are now trading on that exchange under the code "BNC".

The ASX listing follows the Company's completion of an Australian Offer of 8.6 million CHESS Depositary Instruments (CDIs) at A$1.45 per CDI. Combined with an additional C$16.7 million raised through a concurrent Canadian Offer of 11.5 million Common Shares at C$1.45 per Share that closed on December 16, 2010, the Company raised a total of C$28.9 million in gross proceeds (based on actual exchange rates).

The holders of CDIs in Australia hold the beneficial ownership of the equivalent number of Common Shares in the Company, while the legal title in those Shares is held by a depositary nominee (in this case, CHESS Depositary Nominees Pty Ltd (CDN), a wholly owned subsidiary of the ASX). CDIs are held in uncertified form and enable investors to hold and transfer their interests in foreign financial products electronically through CHESS. CDIs must be converted into Shares in order to trade on the TSX. Conversely, TSX-issued Shares must be converted into CDIs in order to trade on the ASX.