BELLEVILLE, ON, May 4, 2013 /PRNewswire/ - The Board of Directors of Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC) ("Bioniche" or the "Company"), on recommendation of a newly struck special committee (the "Special Committee"), announced today that, with the advice of its legal counsel, it has determined that the dissident shareholder's request for a shareholder meeting received on April 25, 2013 (the "Request"), does not constitute a valid shareholder requisition. Accordingly, the Company will not be calling a meeting of shareholders in response to the Request. An excerpt from the letter responding to the Request is reproduced below. The Company also announced today that it has called its regularly scheduled annual meeting of shareholders for the financial year ending June 30, 2013, for November 5, 2013 and has fixed September 9, 2013 as the record date for shareholders to receive notice of and vote at the meeting. The Company will mail a management information circular in advance of the shareholders' meeting. The Special Committee of independent directors was formed to, among other things, respond to the Request, as well as oversee a strategic review process to identify, examine and consider a range of strategic alternatives available to Bioniche in order to maximize shareholder value. Excerpt from response letter to Request:The [Request] is not a valid requisition. As you are well aware, the law on the form of a requisition made by a shareholder is both settled and clear. The request was made by a beneficial shareholder whereas a requisition under the corporate statute must be made by a registered shareholder. Further, the [Request] does not provide adequate information to permit shareholders to make a decision concerning the business stated in the Letter and is therefore deficient. Specifically, the [Request] fails to provide the names of the individuals who are to be nominated or any other information about the proposed nomineesAbout 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 and innovative products for human and animal health markets worldwide. The fully-integrated company employs more than 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and One Health. The Company's primary goal is to develop and commercialize products that advance human or animal 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 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.