Burcon Completes Equity Offering in Canada Raises CDN$5.75 Million

Burcon Completes Equity Offering in Canada Raises CDN$5.75 Million

VANCOUVER, British Columbia, Nov. 23, 2012 (GLOBE NEWSWIRE) -- Burcon
NutraScience Corporation (TSX:BU) (Nasdaq:BUR) ("Burcon" or the "Corporation")
is pleased to announce it has closed its previously announced equity offering
and has issued 1,437,500 common shares at a price of CDN$4.00 per share for
total gross proceeds of CDN$5.75 million (the "Offering").

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, all as more particularly
set out in the Final Prospectus.

"We are pleased with the strong response we received from the market,
particularly at a time when access to capital is difficult. Completion of
this financing is an important milestone in our development plan and will
allow us to focus more on our Peazazz pea protein," said Johann F. Tergesen,
President and Chief Operating Officer, adding, "Protein ingredients continue
to benefit from a strong global trend towards health and wellness in food and
beverages.We are looking forward to near-term commercial advancements for our
CLARISOY^™ soy protein isolate technology and our Peazazz pea protein as
well."

The agents in the Offering received a commission equal to 6% of the gross
proceeds of the Offering and compensation options entitling the agents to
purchase up to 57,500 common shares (equal to 4% of the common shares sold
pursuant to the Offering).Each compensation option is exercisable to acquire
one common share of the Corporation at an exercise price of CDN$4.00 per share
any time before and including May 23, 2014.

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 issued in the Offering
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 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 215 issued patents in various countries, including 35 issued U.S.
patents, and in excess of 395 additional pending patent applications, 77 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 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
         mkirwan@burcon.ca www.burcon.ca
 
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