YM BioSciences Files Preliminary Base Shelf Prospectus

YM BioSciences Inc. YMI today announced it has filed a preliminary short form base shelf prospectus with securities regulatory authorities in Canada and a registration statement on Form F-10 with the United States Securities and Exchange Commission. Once the shelf prospectus is cleared and the registration statement becomes effective, these filings will, subject to applicable securities regulatory requirements, allow the Company to issue common shares, warrants and units comprising any combination of the foregoing (collectively, the "Securities"), up to an aggregate offering size of US$125,000,000, during the 25-month period that the final short form base shelf prospectus, including any amendments thereto, remains effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying prospectus supplement. The Company has filed this shelf prospectus and registration statement in order to provide a means for future financings for research initiatives and further development. These filings are designed to replace the Company's existing base shelf prospectus and registration statement, which are due to expire on October 17, 2011. Accordingly, the Company will cease to issue any further Securities under the current base shelf prospectus and registration statement. The Company has no intention of conducting a financing at this time.