BELLEVILLE, ON, May 29, 2013 /CNW/ - Bioniche Life Sciences Inc. (BNC.TO) (BNC.AX) ("Bioniche"), today announced that its Board of Directors ("Board"), with the advice of legal counsel, has carefully reviewed the purported "second requisition" by Bill Wells and Greg Gubitz for a shareholders' meeting to replace the Board of Bioniche. The Bioniche Board has concluded that: (i) the delivery of the "second requisition" is tacit acknowledgement that the first requisition was defective; and (ii) the "second requisition" does not require Bioniche to call a special shareholders meeting under the Canada Business Corporations Act as a record date has been fixed and published for a scheduled meeting of shareholders. The Bioniche Board also carefully considered the appropriate timing for a shareholder meeting and concluded that a meeting in accordance with the normal cycle is in the best interests of the shareholders and the Company, as it allows shareholders time to consider the issues associated with a contested Board election while not disrupting the important initiatives under way to divest the Animal Health business, as well as allowing time for the Company to address its financial requirements and to re-partner Urocidin™. Accordingly, the Bioniche Board has determined to proceed with the scheduled meeting date of November 5, 2013 . Counsel to Wells and Gubitz have advised that they intend to bring a Court application to require an earlier meeting. The Bioniche Board has determined to oppose that application.