Burcon Files Preliminary Short Form Prospectus
VANCOUVER, British Columbia, Nov. 7, 2012 (GLOBE NEWSWIRE) -- /NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
Burcon NutraScience Corporation (TSX:BU) (Nasdaq:BUR) ("Burcon") announced
today that it has filed a preliminary short form prospectus with the
securities regulatory authorities in the Provinces of British Columbia,
Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick and Nova Scotia in
connection with a best efforts offering of common shares of Burcon for gross
proceeds of up to $5 million (the "Offering"). Final pricing and determination
of the number of common shares to be sold pursuant to the Offering will occur
immediately prior to the filing of the final short form prospectus in respect
of the Offering. Burcon has retained NCP Northland Capital Partners Inc. to
lead the Offering with a syndicate of agents, including Raymond James Ltd.
(collectively, the "Agents"). An agency agreement for the Offering will be
entered into by the Company and the Agents.
Closing of the Offering is subject to final pricing and TSX and NASDAQ
approval. The net proceeds of the Offering will be used for continued
commercialization of Burcon's uniquely soluble and clean-tasting Peazazz™ pea
protein, CLARISOY™ soy protein and for general working capital purposes. The
Offering is expected to close on or about November 21, 2012.
This press release is not an offer to sell or the solicitation of an offer to
buy the securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to qualification or registration under the
securities laws of such jurisdiction. The securities being offered have not
been, nor will they be, registered under the United States Securities Act of
1933, as amended, and such securities may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons absent
registration or an applicable exemption from U.S. registration requirements.
About Burcon NutraScience
Burcon is a leader in nutrition, health and wellness in the field of
functional, renewable plant proteins. Since 1999, Burcon has developed a
portfolio of composition, application, and process patents originating from
our core protein extraction and purification technology.We have developed
CLARISOY™ soy protein, which offers clarity and complete protein nutrition for
low pH beverage systems; Peazazz™ a uniquely soluble and clean-tasting pea
protein and Puratein®, Supertein™ and Nutratein™ canola protein isolates with
unique functional and nutritional attributes.Our team of highly specialized
scientists and engineers work from our private research facility to develop
and optimize environmentally sound technologies. To-date, our patent portfolio
consists of 210 issued patents in various countries, including 35 issued U.S.
patents, and in excess of 390 additional pending patent applications, 75 of
which are U.S. patent applications.
CLARISOY™ is under license from Archer Daniels Midland Company.
CLARISOY™ is a trademark of Archer Daniels Midland Company.
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 the timing and
use of proceeds of the Offering, the execution of an agency agreement and the
completion of the 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 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, 2012.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.
CONTACT: For more information, please contact:
Michael Kirwan, Director, Corporate Development
Burcon NutraScience Corporation
(604) 733-0896 / (888) 408-7960 toll-free
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