Burcon Announces Completion of Over-Subscribed Rights Offering
December 01 2016 - 7:00AM
Burcon NutraScience Corporation (TSX:BU)
(NASDAQ:BUR) ("
Burcon") is pleased to announce the
completion of its rights offering (the "
Rights
Offering"), which expired at 5:00pm (EST) on November 30,
2016. The Rights Offering was over-subscribed and will result in
the issuance of 1,990,708 Common shares of Burcon ("
Common
Shares") at a price of $2.58 per share for gross proceeds
of approximately $5,136,027.
Burcon is working with its transfer agent to
calculate the amounts exercised under the basis subscription
privilege and the additional subscription privilege in connection
with the Rights Offering and will provide details, including
information required by National Instrument 45-106 – Prospectus
Exemptions, once available.
About Burcon NutraScience Corporation
Burcon is a leader developing functionally
superior plant-based proteins. Burcon 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 Burcon,
visit www.burcon.ca.
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, the expected closing and details of the Rights
Offering. 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 June 27, 2016
filed with the Canadian securities administrators on
www.sedar.com and contained in Burcon’s 20-F filed with the
U.S. Securities and Exchange Commission on www.sec.gov. 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.
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
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