May 3, 2012

HELIX BIOPHARMA CORP. UPDATES SHAREHOLDERS ON ELECTION OF DIRECTORS (PDF)

(Aurora, Ontario) – Helix BioPharma Corp. (TSX, NYSE Amex, FSE: “HBP”) announced today that, in compliance with
applicable corporate law, it is seeking an Order of the Ontario Superior Court of Justice approving the settlement that Helix entered into with the Concerned Shareholders and others on March 14, 2012, and dismissing the related court proceedings. The settlement was filed on SEDAR on March 23, 2012. Among other things, the settlement specifies the constitution of Helix’s current, reconstituted, board of directors, and provides that Helix’s next annual general meeting of shareholders will not be held prior to January 15, 2013.