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To: Cal Gary who wrote (13780)	11/8/2004 1:47:22 PM
From: Cal Gary	Read Replies (1) of 14101

OT: Oncolytics arranges $10-million bought deal financing Oncolytics Biotech Inc (:ONC) Shares Issued 29,562,451 Last Close 11/4/2004 $7.06 Friday November 05 2004 - News Release Mr. Doug Ball reports ONCOLYTICS BIOTECH INC. ENTERS INTO A BOUGHT DEAL FINANCING FOR $10 MILLION Oncolytics Biotech Inc. has entered into a bought deal agreement with Canaccord Capital Corporation. Under the agreement, Canaccord has agreed to purchase 1,504,000 units at a price of $6.65 per unit, resulting in gross proceeds to Oncolytics of $10,001,600. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to acquire one common share upon payment of $8.00 per share for a period of 36 months following the closing date. The net proceeds from the offering will be used to expand and accelerate Oncolytics's clinical trial programs and for general corporate purposes. The offering is expected to close on or about Nov. 25, 2004. The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals. WARNING: The company relies upon litigation protection for "forward-looking" statements. © 2004 Canjex Publishing Ltd.

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