TELESTA THERAPEUTICS INC T.TST

Nasdaq Update....from Jennifer

[rhdmd]

Hello Dr. Hwang,

 

Thank you for your question and commentary.

 

Bioniche continues to examine the costs and benefits of additional listings beyond our current Toronto Stock Exchange listing.

 

Weappreciate that volume may be limited for trading from any unofficiallisting in the U.S. and between that and our senior listing in Toronto.You are correct in supposing that an official listing in the U.S. wouldlikely increase the volume of trading in that market.

 

Inregards to a U.S. listing, the Company is not currently contemplatingsuch a move due to its high cost. To be specific, our advisors estimatethe incremental cost to the Company of maintaining a U.S. listing to bein excess of $1.0 million per year. The up-front cost of initiating sucha listing would be even higher. The cost of obtaining and maintaining aU.S. listing is prohibitive at our current size.

 

Sincerely,

Jennifer

 

Jennifer Shea

Vice-President, Communications, Investor & Government Relations

Bioniche Life Sciences Inc.

P.O. Box 1570, 231 Dundas St. E.

Belleville, Ontario

Canada  K8N 5J2

Phone: [phone] ext. 1250

Mobile: [phone]

Fax: [phone]

Email: [e-mail]