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Vancouver-based Burcon NutraScience Increases Private Placement Financing to $9.5 Million
Monday, December 2, 2019Company Profile | Follow Company
Burcon Increases Previously Announced Non-Brokered Private Placement of Convertible Debentures to $9.5 Million
Vancouver, BC, December 2, 2019--(T-Net)--Burcon NutraScience (TSX: BU), a technology leader in the development of plant-based proteins, announced today that, based on orders received, it has increased its previously announced non-brokered private placement of convertible debentures from an aggregate principal amount of $4 million to $9.5 million.
The Offering is expected to close on or about December 10, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the TSX.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins. The company has developed an extensive portfolio of composition, application, and process patents originating from a core protein extraction and purification technology.
Burcon's family of plant proteins includes Peazazz®, a uniquely soluble and clean-tasting pea protein, Peazac®, a pea protein that is well-suited for meat analogues and baked goods, Puratein®, Supertein® and Nutratein® canola proteins with exceptional functionality and valuable nutritional profiles, and Nutratein-PS™ and Nutratein-TZ™, Burcon's new pea and canola protein blends that have exceptional functional characteristics, low allergenicity, and a nutritional value exceeding those of standard pea proteins in the market today.
Supertein® and Nutratein® canola proteins are marketed by Merit Functional Foods Corporation under the brand names, Puratein® HS and Puratein®-C, respectively, and Nutratein-PS™ pea and canola protein blend as MeritPro™ HS. Burcon's CLARISOY® soy protein — under license to the Archer Daniels Midland Company — offers clarity and high-quality protein nutrition for low-pH beverage systems, and excellent solubility and exceptionally clean flavour at any pH. For more information about the company, visit www.burcon.ca.
The securities being offered under the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein.
This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward- looking statements or forward-looking information can be identified by words such as "anticipate," "intend," "plan," "goal," "project," "estimate," "expect," "believe", "future," "likely," "may," "should," "could", "will" and similar references to future periods. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the Offering and its increase, receipt of TSX approval for the Offering and other expectations, intentions and plans contained in this press release. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements or information. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form dated July 2, 2019 filed with the Canadian securities administrators on www.sedar.com. Any forward-looking statement or information only speaks as of the date on which it was made and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and accordingly, investors should not rely on such statements.
CLARISOY is a trademark of Archer Daniels Midland Company.
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Burcon NutraScience Corporation
Vancouver (Biotech/Life Sciences)
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