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Creating a New Category for Hempseed-Based Protein Ingredients to Tap into New Markets

Vancouver, BC, July 11, 2023--(T-Net)--Burcon NutraScience Corporation (TSX: BU), a technology leader in the development of plant-based proteins for foods and beverages, announced that it has partnered with HPS Food and Ingredients Inc. ("HPS"), a leader in hempseed-based food ingredients, to explore the commercialization of Burcon's first-of-its-kind high purity, soluble hempseed protein isolate.

This collaboration aims to capitalize on the thriving hempseed protein market trend and deliver exceptional plant-based protein solutions to customers worldwide.

"We are thrilled to partner with HPS to commercialize our hempseed protein isolate," said Kip Underwood, Burcon's chief executive officer. "This collaboration marks an important milestone in our commitment to monetize our intellectual property, connect directly with customers, and exert more influence over the production of our innovative plant-based protein solutions. By joining forces with HPS, a premier leader in hempseed and plant-based ingredient solutions, we have an excellent partner with the resources to quickly get to market and meet the growing demand for sustainable, hempseed-based protein ingredients."

Through this partnership, Burcon and HPS aim to leverage their combined expertise to accelerate market adoption of Burcon's hempseed protein isolate (the "Product").

The parties intend to begin market development, conduct due diligence and commercial validation trials of the Product.

Following successful market development and validation trials, Burcon and HPS intend to negotiate a definitive agreement on a strategic partnership for the commercialization of the Product. By harnessing the power of innovation and collaboration, Burcon and HPS are poised to make a significant impact on the hempseed food industry and contribute to a more sustainable and healthier future.

"We are excited to partner with Burcon to launch the world's first soluble hempseed protein isolate," said Marc van Burck, HPS's chief executive officer. "This partnership is an excellent marriage of our mutual expertise. Burcon's unique technology and know-how in hempseed protein extraction produces a high purity, soluble protein isolate that doesn't exist on the market today. Combined with HPS' access to growers and customers, by commercializing this technology we are confident we can offer our customers products with unique functionality and continue to serve their needs. The demand for higher purity hempseed protein has been steadily increasing and we are excited to fulfill our customers' needs by offering them a premium, carbon negative, sustainable and versatile plant-based protein solution."

Hempseed protein is allergen-free, non-GMO and is an excellent source of clean-label, plant-based protein. according to the company.

The company's hempseed protein isolate was developed through extensive research and innovation, and stands out in the market by being greater than 90% protein purity, neutral in taste, water-soluble, off-white in color, and North American grown and processed, offering manufacturers the opportunity to create nutritious, environmentally friendly, sustainable, and delicious products that align with consumers' evolving preferences.

About HPS Food and Ingredients Inc.

HPS Food & Ingredients is a global leader in value-added processing of plant proteins, seeds & grains, oils, flours, fibers and starches, for premium food markets and food companies around the globe. We produce nutritious, North American grown non-GMO, gluten-free ingredient products at our dedicated production facilities in Manitoba, Canada. We provide quality ingredient solutions for the global food marketplace.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its specialty plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources.

Burcon is striving to become a vertically integrated provider of specialty plant-based protein solutions that deliver on health, nutrition and sustainability. Supporting the growing trend towards a plant-based diet, Burcon is developing premium protein ingredients that we believe are better for you and better for the planet.