Helix BioPharma Corp.
TSX : HBP
FRANKFURT : HBP

August 23, 2012 14:05 ET

Helix BioPharma Corp. Announces Extension of 2009 Warrant Expiry Date

AURORA, ONTARIO--(Marketwire - Aug. 23, 2012) - Helix BioPharma Corp. (TSX:HBP)(FRANKFURT:HBP), a biopharmaceutical company developing drug candidates for the prevention and treatment of cancer, today announced that it has applied to the Toronto Stock Exchange to extend the expiry date of the 2009 Warrants (as defined below) by six months, from September 7, 2012 at 5:00 p.m. (Toronto time) (the "Current Expiry Date") to March 7, 2013 at 5:00 p.m. (Toronto time). Helix does not propose to amend any other provision of the 2009 Warrants, and none of the 2009 Warrants is held directly or indirectly by an insider of Helix.

The 2009 Warrants were issued as part of a private placement completed by Helix on September 8, 2009, pursuant to which Helix issued 6,625,000 units at a subscription price of $2.05 per unit. Each unit consisted of one common share and one common share purchase warrant (each a "2009 Warrant"), with each 2009 Warrant common entitling the holder to purchase, subject to adjustment, one common share at a price of $2.87 until the Current Expiry Date.

Subject to the approval of the Toronto Stock Exchange, the expiry date of the 2009 Warrants will be extended until March 7, 2013 at 5:00 p.m. and will be effective on the 10th business day following the issuance of this press release.

About Helix BioPharma Corp.

Helix BioPharma Corp. is a biopharmaceutical company specializing in the field of cancer therapy. The company is actively developing innovative products for the prevention and treatment of cancer based on its proprietary technologies. Helix's product development initiatives include its novel L-DOS47 new drug candidate and its Topical Interferon Alpha- 2b. Helix is currently listed on the TSX and FSE under the symbol "HBP".

Forward-Looking Statements and Risks and Uncertainties

This news release contains certain forward-looking statements and information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws, including, without limitation, forward-looking statements regarding Helix's proposal to extend the term of the 2009 Warrants. Forward-looking statements, which may be identified by words including, without limitation, "will" and other similar expressions, are intended to provide information about management's current plans and expectations regarding future operations.

Although Helix believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties that may cause actual results or events to differ materially from those anticipated and no assurance can be given that these expectations will be realized, and undue reliance should not be placed on such statements. Risk factors that could cause actual results or events to differ materially from the forward-looking statements include, without limitation, the risk that the approval of the Toronto Stock Exchange to extend the term of the 2009 Warrants may not be received, and certain of these risks and uncertainties, and others affecting the company, are more fully described in Helix's Annual Report on Form 20-F, including under the headings "Forward-Looking Statements" and "3.D Risk Factors", filed with the SEC at www.sec.gov and with the Canadian Securities Administrators at www.sedar.com (together, the "Helix Risk Factors"). Certain material factors or assumptions are applied in making the forward-looking statements, including, without limitation, the Helix Risk Factors will not cause Helix's actual results or events to differ materially from the forward-looking statements.

Forward-looking statements and information are based on the beliefs, assumptions and expectations of Helix's management on the date of this news release, and Helix does not assume any obligation to update any forward-looking statement or information should those beliefs, assumptions or expectations, or other circumstances change, except as required by law.

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