ADM Announces Intention to Expand Commercial Production of CLARISOY(TM)
March 06 2014 - 7:30AM
Burcon NutraScience Corporation (TSX:BU) (Nasdaq:BUR), a leader in
functional, renewable plant proteins, is pleased to announce that
it has received written notice from Archer Daniels Midland Company
("ADM") that ADM intends to expand to full-commercial scale
production of CLARISOY™ soy protein.
ADM's intention to expand commercial production of CLARISOY™
ensures that its production capability meets the required
obligations under the existing License & Production Agreement
to retain its exclusive license for CLARISOY™. To protect the
parties' competitive interests, Burcon and ADM have agreed to not
disclose the planned production capacity of the expansion.
"ADM and Burcon have contributed considerable resources and
valuable efforts to bring CLARISOY soy protein to the global food
and beverage market. ADM's notice of its intention to
expand to full-commercial-scale production of CLARISOY marks a
defining step for Burcon and for this revolutionary protein," said
Johann Tergesen, Burcon's president and chief operating officer.
"We are delighted with the progress made by ADM since March 2011 in
building a solid foundation for the future and continued growth of
CLARISOY."
ADM and Burcon first teamed to commercialize CLARISOY in 2010,
and the first products reached the market in June 2012, winning
numerous product-innovation awards. The CLARISOY portfolio,
marketed by ADM's Foods & Wellness group, is based on a
patented process developed by Burcon that offers a highly soluble
and versatile protein ingredient that, due to its clean flavor
profile, can be incorporated into a diverse range of products such
as sports drinks, fruits and vegetable juices, or to replace dairy
proteins.
About Burcon NutraScience Corporation
Burcon NutraScience is a leader in developing functionally and
nutritionally valuable plant-based proteins. The company has
developed a portfolio of composition, application, and process
patents originating from a core protein extraction and purification
technology. Burcon's CLARISOY™ soy protein offers clarity and
high-quality protein nutrition for low-pH beverage systems and
excellent solubility and exceptionally clean flavor at any pH;
Peazazz® is a uniquely soluble and clean-tasting pea protein; and
Puratein®, Supertein™ and Nutratein® are canola protein isolates
with unique functional and nutritional attributes. For more
information about the company, visit www.burcon.ca.
ON BEHALF OF THE BOARD OF DIRECTORS
"Johann F. Tergesen"
Johann F. Tergesen
President and Chief Operating Officer
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. 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. All statements other
than statements of historical fact included in this release are
forward-looking statements, including, without limitation,
statements regarding plans and timing for the introduction or
enhancement of our products, statements about future market
conditions, supply and demand conditions, 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 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
June 25, 2013. 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
undue reliance should not be put on such.
CLARISOY is a trademark of Archer Daniels Midland Company.
CONTACT: Media & Industry Contact:
Michael Kirwan
Director, Corporate Development
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
mkirwan@burcon.ca
www.burcon.ca
Investor Relations Contact:
Matt Glover or Michael Koehler
Liolios Group Inc.
(949) 574-3860
bur@liolios.com
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