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2016-01-29

Bionor Pharma ASA: Bionor Pharma - Information on the subsequent repair issue

BIONOR PHARMA ASA

STOCK EXCHANGE ANNOUNCEMENT

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

Bionor Pharma - Information on the subsequent repair issue

(Oslo, Norway, 29 January 2016) Reference is made to the stock exchange
announcement by Bionor Pharma ASA ("Bionor" or the "Company", ticker
"BIONOR") published on 27 January 2016 regarding a private placement of new
shares with gross proceeds of approximately NOK 45 million (the "Private
Placement").

The Board of Directors will propose to the extraordinary general meeting to
conduct a subsequent repair issue (the "Repair Issue") with gross proceeds of
up to NOK 31.5 million by issuing up to 44,366,197 new shares at NOK 0.71 per
share.

The Repair Issue will be directed towards shareholders in Bionor as of 26
January 2016, as documented by the shareholder register in the VPS as of
expiry of 28 January 2016 (the "Record Date"), that were not allocated shares
in the Private Placement ("Eligible Shareholders"), subject to applicable
restrictions in the relevant jurisdictions of the Eligible Shareholders.

Eligible Shareholders will be granted approximately 0.25 subscription rights
per each share registered as held at the Record Date. The number of
subscription rights granted to each Eligible Shareholder will be rounded down
to the nearest whole subscription right. Each subscription right will give
the right to subscribe for and be allocated one new share in the Repair
Issue. Eligible Shareholders participating in the Repair Issue will be
offered the same warrant structure terms as investors in the Private
Placement. Further details about the Repair Issue will be set out in the
prospectus, currently expected to be published on or about 16 February 2015.

The subscription period in the Repair Issue is expected to commence on or
about 16 February 2016 and end on or about 1 March 2016 at 16:30 CET. If a
prospectus is not approved by the Financial Supervisory Authority of Norway
in time for the subscription period to commence on 16 February 2016, the
subscription period shall commence at the latest on the second trading day on
Oslo Børs after such approval has been obtained and end at 16:30 CET two
weeks thereafter.

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Further information

David Horn Solomon, President and CEO, +45 22 20 63 00,dhs@bionorpharma.com

Jens Krøis, CFO, +45 20 80 16 68, jk@bionorpharma.com
Jørgen Fischer Ravn, VP Investor Relations&Communications, +45 20 30 39
03,jfr@bionorpharma.com

About Bionor

Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing
its proprietary therapeutic vaccine Vacc-4x in combination with other
medicines toward a functional HIV cure. The Company believes it has first
mover potential based on clinical results to date and early adoption of now
recognized clinical strategy. In December 2015, Bionor announced that the HIV
'Shock&Kill' trial REDUC with Vacc-4x and romidepsin successfully met its
primary endpoint by significantly reducing latent HIV reservoir and further
demonstrated control of viral load. Bionor is currently planning BIOSKILL, a
proof-of-concept Phase II trial, which may lead to a major value inflection
point and partnering opportunities. Bionor currently retains full ownership
rights to Vacc-4x, i.e., the upside potential from partnering or licensing
remains with the Company. Bionor is based in Oslo, Norway, and also has
offices in Copenhagen, Denmark and New York, USA. Bionor is listed on Oslo
Børs (OSE:BIONOR). More information about Bionor is available at
www.bionorpharma.com.

Important information:
The release is not for publication or distribution, in whole or in part
directly or indirectly, in or into Australia, Canada, Japan or the United
States (including its territories and possessions, any state of the United
States and the District of Columbia).

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. It is issued for information
purposes only, and does not constitute or form part of any offer or
solicitation to purchase or subscribe for securities, in the United States or
in any other jurisdiction. The securities mentioned herein have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the "Securities Act"). The securities may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the Securities Act. The Company does not intend to register
any portion of the offering of the securities in the United States or to
conduct a public offering of the securities in the United States. Copies of
this announcement are not being made and may not be distributed or sent into
Australia, Canada, Japan or the United States. The issue, exercise, purchase
or sale of subscription rights and the subscription or purchase of shares in
the Company are subject to specific legal or regulatory restrictions in
certain jurisdictions. Neither the Company nor the Manager assumes any
responsibility in the event there is a violation by any person of such
restrictions.

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform
themselves about and observe any such restrictions. Any failure to comply
with these restrictions may constitute a violation of the securities laws of
any such jurisdiction. The Manager is acting for the Company and no one else
in connection with the Private Placement and will not be responsible to
anyone other than the Company for providing the protections afforded to their
respective clients or for providing advice in relation to the Private
Placement and/or any other matter referred to in this release.

Bionor Repair Issue Information
http://hugin.info/131219/R/1982351/726381.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bionor Pharma ASA via Globenewswire

HUG#1982351

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