BXI Bioexx Specialty Proteins Ltd Com Npv

Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx" or "the Company") is pleased to
announce that it has developed a plan to commence production and sales of its
high-value Protein Isolate and Hydrolyzed Protein products (together "Protein
Isolates") before the end of 2009. Originally, BioExx had planned to reach this
very significant milestone in early 2011. The advanced schedule, which does
require additional equipment, flows from the enhancements to the design of its
extraction process as announced on April 22, combined with continued progress
with regulatory certifications and strong market demand.


The planned system builds upon the existing design utilizing provisional patent
applications in the United States (and subsequent PCT applications) for both its
Protein and Extraction processes, and will now allow for the production of all
grades of proteins from one integrated process. The key additional equipment in
the new BioExx protein system is well proven in a broad range of food processing
applications, including the production of whey, soy, and pea proteins.


The original plan to commence Isolate production in early 2011 involved a
significant additional expenditure to build what was essentially a separate
process added to the initial lower-value Protein Concentrate plant. The
accelerated Isolate producing process will require that additional planned
capital expenditures be made earlier, but will avoid the redundancy of some
equipment that would have occurred by installing the systems in separate phases.
To fund the accelerated process, the Company intends to access a combination of
proceeds from the exercise of outstanding share purchase warrants which expire
in January 2010, and other non-dilutive sources of capital that may be
available. To achieve the goal of producing Isolates by the end of 2009, BioExx
will seek the cooperation of warrant holders to exercise their warrants on a
steady basis between now and expiry. If the warrants are exercised at a slower
pace than desired, the accelerated start-up date could shift commensurately to
as late as June 2010.


"Despite the many prior accomplishments by BioExx, we believe this is the most
significant milestone achieved to date," said BioExx CEO Chris Carl. "The
production and sale of high-value proteins has always been our end goal and the
key driver of shareholder value in this business. To be able to reach the
Isolate production goal much earlier than planned, and in a manner which can
deliver enhanced upside while at the same time mitigating risk, is an
accomplishment of which we are very proud."


To smooth the implementation and scale-up of Isolate production, BioExx will
initially install a system which will run at approximately half of target
Isolate capacity. As production and cash flow grows, additional equipment will
be added to increase capacity to full plan. This approach is expected to
facilitate production volumes which are in line with typical ramp-up rates while
at the same time deferring and reducing at-risk capital.


The Company believes that in addition to driving higher revenues and margins by
entering its higher-value protein markets earlier, this accelerated plan has
several risk mitigation benefits that include:


- The protein system to be deployed would be capable of producing the entire
range of specialty proteins, versus an implementation capable of producing only
lower-end Protein Concentrates;


- Converting from a Concentrate-only system would require additional equipment
and processes for Isolates, some of which would be redundant, and while this was
originally thought unavoidable, it is not acceptable in the presence of a
demonstrated ability to implement an integrated system capable of producing both
products;


- An accelerated deployment of the Isolate system provides for an extra year's
experience in Isolate production and sales which is a key benefit for the much
larger second facility which would then be able to commence production of
Isolates at start-up;


- Successful implementation should result in enhanced cash flow on an earlier
schedule, through the production and sale of high margin Isolates, which
typically sell for about $6,000 per metric tonne versus Concentrates at $1,000
per metric tonne, and which should result in better access to, and a lower cost
of, capital for funding of the second plant.


To enable food-grade specialty protein sales in the United States, BioExx will
require GRAS (Generally Regarded As Safe) status. GRAS is a self-affirmed food
safety designation which is administered by independent third parties in
accordance with the regulations of the US Food and Drug Administration. Based on
efforts to date, BioExx expects to self-affirm its GRAS status before the end of
2009, which would allow it to commence the sale of Isolates. In the event that
this designation is unexpectedly delayed, the integrated nature of the BioExx
protein system will still allow BioExx to produce and sell Protein Concentrate
products for markets that do not require GRAS, such as specialty feeds.


The Saskatoon plant will also need to have demonstrated that it has implemented
and maintained its procedures in a manner that complies with HACCP, GMP Plus,
and ISO 22000. Certification for all of these processes with respect to Phase 1
operations is well advanced and nearing completion. BioExx expects to complete
preliminary work with respect to Protein production prior to the planned
start-up later this year.


Specialized protein markets are very strong and are widely expected to continue
to grow over the long term, driven simply by demand fundamentals exceeding
supply. BioExx continues to receive very strong interest in all of its proteins
products, with considerable emphasis on Isolates, from around the globe. By
working through its primary distributor and in some cases directly, BioExx is
excited to be able to offer a solution that will enable these customers to be
serviced considerably earlier than originally anticipated.


About Bio-Extraction Inc.

Headquartered in Toronto, Canada, BioExx is a leading technology company focused
on the extraction of oil and high-value proteins from oilseeds for the global
food market. BioExx' patented technology allows for the use of significantly
lower temperatures than conventional methods in extracting the active
ingredients and oils from oilseeds, resulting in higher yields and
higher-quality meal, oils and proteins. BioExx' low energy requirements,
environmentally sound process, and high-yield production have the potential to
make a valuable contribution in alleviating food scarcity. BioExx operates a
commercial scale extraction facility in Saskatoon, Saskatchewan, and has a
mission to construct additional and larger processing facilities on a global
basis. To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please
visit www.bioexx.com.


"The statements made in this press release include forward-looking statements
that involve a number of risks and uncertainties. These statements relate to
future events or future performance and reflect management's current
expectations and assumptions. A number of factors could cause actual events,
performance or results to differ materially from the events, performance and
results discussed in the forward-looking statements, such as the economy,
generally, the demand for BioExx's products, the availability of funding, and
the anticipated costs of BioExx's plant construction and operation. These
forward-looking statements are made as of the date hereof and BioExx does not
assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from BioExx's
expectations and projections."

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