Bioniche Life Sciences Inc. announces results of annual general meeting of shareholders

TORONTO, Nov. 13, 2014 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX: BNC)  ("Bioniche" or the "Company") is pleased to provide the results from its annual general meeting of shareholders held November 12, 2014 in Toronto (the "Meeting").

At the Meeting, the six nominees proposed by management were elected to serve as a director of the Company to hold office for the ensuing year or until his or her successor is elected. One director did not receive more votes for, than votes which were withheld, and, in compliance with the Company's internal policies, has tendered his resignation.  The Corporate Governance and Nominating Committee of the board of directors will study the matter and make a recommendation to the board of directors concerning the acceptance of this resignation.

A special resolution amending the articles of the Company to change the name of the Company to Telesta Therapeutics Inc. to further align the Company with its brand, was confirmed, ratified and approved.  It is the Company's intention, in the weeks to come, to make the necessary filings with the relevant regulatory authorities to effect this name change.

Shareholders at the Meeting also approved the re-appointment of Bioniche's auditors, Ernst & Young LLP, Chartered Accountants.

About Bioniche Life Sciences Inc.

Bioniche Life Sciences Inc. is a late clinical stage Canadian biopharmaceutical company focused on the development, manufacturing, marketing and licensing/acquisition of proprietary and innovative therapies for the global human health market. The Company's primary goal is to develop and commercialize products that advance human health and increase shareholder value. For more information, please visit www.Bioniche.com.

Except for historical information, this news release may contain "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws that reflect the Company's current expectation regarding future events. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while, considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Readers are cautioned that any such forward-looking statements and information are not guarantees and there can be no assurance that such statements and information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements and information. These forward-looking statements and information 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. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.

SOURCE Bioniche Life Sciences Inc.