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Bionor Pharma ASA – Contemplated Private Placement

Bionor Pharma (“Bionor” or the “Company”) has engaged SEB Enskilda (the "Manager") to advise on and effect a contemplated private placement (the “Private Placement”) of up to 18,000,000 new shares directed towards investors in Norway and internationally.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Bionor Pharma (“Bionor” or the “Company”) has engaged SEB Enskilda (the "Manager") to advise on and effect a contemplated private placement (the “Private Placement”) of up to 18,000,000 new shares directed towards investors in Norway and internationally.

The Company has a comprehensive clinical and preclinical program and will use the proceeds from the Private Placement to potentially fund these programs, for general business purposes and to strengthen the Company’s balance sheet.

The subscription price in the Private Placement will be set through a book-building process conducted by the Manager. The application period commences on 14 June 2012 at 17:30 (CET) and will close on 15 June 2012 at 08:00 hours (CET). The Company may however, at any time resolve to close or extend the application period at its own discretion. The minimum order size and allocation in the Private Placement has been set to the number of shares that equals an aggregate purchase price of at least the NOK equivalent of EUR 50,000.  Order indications have been received for a significant part of the offer shares and allocations to these investors may constitute a significant part of the total allocations. Steen Krøyer (CEO) will subscribe for shares equivalent to EUR 50,000, in the Private Placement.

The allocation of shares will be determined at the end of the book-building process. The final allocation will be made at the Board’s sole discretion. The Company will announce the number of shares placed and the final subscription price in the Private Placement through a stock exchange notice expected to be published before opening of the trading on the Oslo Stock Exchange tomorrow, 15 June 2012. For settlement purposes, the Manager will borrow shares from Lars Høie. Accordingly, the shares purchased in the Private Placement can be traded immediately upon announcement of the results of the Private Placement and notification of allocation received from the Manager.

The new shares will be issued pursuant to the authorization to the Board of Directors granted at Bionor’s Annual General Meeting held on 11 May 2012. Completion of the Private Placement is subject to the approval by the Board of Directors.

For further information, please contact:
Steen Krøyer, CEO Bionor, +47 23 01 09 62
Lars Høie, Chairman Bionor, +47 95 03 99 15


About Bionor:
Bionor (OSE: BIONOR) is an innovative development company within the field of peptide based virus vaccines. The Company’s principal office is in Oslo, Norway. For more information, visit www.bionorpharma.com

This publication is not for distribution, directly or indirectly, in or into the United States, nor is it an offer for sale of or the solicitation of an offer to purchase securities in the United States. Any securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities  Act"), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Copies of this publication are not being, and may not be, distributed or sent into the United States.

This information is subject of the disclosure requirements acc. To §5-12 (Norwegian Securities Trading Act).