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Bionor Pharma ASA - Successfully Completes Private Placement

Reference is made to the stock exchange notice published by Bionor Pharma ASA (“Bionor” or the “Company”) on 14 June 2012 regarding the contemplated private placement of new shares (the “Private Placement”). The Board of Directors of Bionor is pleased to announce that the Private Placement has been successfully subscribed for and allocated. The transaction was oversubscribed.

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Reference is made to the stock exchange notice published by Bionor Pharma ASA (“Bionor” or the “Company”) on 14 June 2012 regarding the contemplated private placement of new shares (the “Private Placement”).
The Board of Directors of Bionor is pleased to announce that the Private Placement has been successfully subscribed for and allocated. The transaction was oversubscribed.

The book-building period for the Private Placement closed on 14 June 2012, and the Board has resolved to issue 18,000,000 new shares at a subscription price of NOK 3.20 per share. Total gross proceeds from the Private Placement amount to NOK 57.6 million. Following the Private Placement, the Company will have 198,526,348 shares outstanding. Bionor does not intend to conduct a subsequent repair issue.

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.

Allocation notices will be sent today, 15 June 2012. Payment of shares will be 20 June 2012. Allocated shares will be delivered on 20 June 2012 subject to timely payment. The Manager has entered into a share lending agreement for up to 18,000,000 shares to facilitate delivery of tradable shares to investors that have been allocated shares in the Private Placement.

The Private Placement was managed by SEB Enskilda.

Contacts:
Bionor Pharma ASA, Oslo: +47 23 01 09 60/ Bionor Pharma laboratories: +47 35 90 85 00
Steen Krøyer, CEO Bionor
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).