Oncolytics Biotech Inc. (ONCY)

[onco_investor]

Exercise of Underwriters' Over-Allotment Option completed

The Company announced today that in connection with its previously announced unit offering, the underwriters have exercised in full their over-allotment option and purchased an additional 637,500 units. Each unit is comprised of one common share and 0.4 of a common share purchase warrant, and was sold at a price of US$3.00 per unit. Each whole common share purchase warrant entitles the holder to acquire one common share of Oncolytics upon payment of US$3.50 for a five year period ending November 23, 2014, subject to an acceleration of the expiry date in certain circumstances.

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"Completing this financing further strengthens our balance sheet and will allow us to proceed beyond the 80 patient first stage of enrollment in our Phase III clinical trial, while giving us improved flexibility in reviewing partnering options," said Dr. Brad Thompson, President and CEO of Oncolytics. "After giving effect to this financing, we have in excess of $36 million in cash on hand."