Vancouver, British Columbia, June 26, 2019 – Burcon NutraScience Corporation (TSX:BU) (“Burcon” or the “Company“), a leader in developing functionally and nutritionally valuable plant proteins, is pleased to announce the completion of its rights offering (the “Rights Offering“), which expired at 5:00pm (EST) on June 25, 2019. The Rights Offering was over-subscribed and will result in the issuance of 44,083,203 Common shares of Burcon (“Common Shares“) at a price of $0.35 per share for gross proceeds of approximately $15,429,121.
Burcon is working with its transfer agent to calculate the amounts exercised under the basic subscription privilege and the additional subscription privilege in connection with the Rights Offering and will provide further details, including information required by National Instrument 45-106 – Prospectus Exemptions, once available.
About Burcon NutraScience Corporation
Burcon is a leader in developing functionally and nutritionally valuable plant proteins. The company has developed an extensive portfolio of composition, application, and process patents originating from a core protein extraction and purification technology. Burcon’s family of plant proteins includes Peazazz®, a uniquely soluble and clean-tasting pea protein, Puratein®, Supertein® and Nutratein® canola proteins with exceptional functionality and valuable nutritional profiles, and Nutratein-PS™ and Nutratein-TZ™, Burcon’s new pea and canola protein blends that have exceptional functional characteristics, low allergenicity, and a nutritional value exceeding those of standard pea proteins in the market today. Burcon’s CLARISOY® soy protein — under license to the Archer Daniels Midland Company — offers clarity and high-quality protein nutrition for low-pH beverage systems, and excellent solubility and exceptionally clean flavour at any pH. For more information about the company, 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, statements regarding the future issuance of Common Shares 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 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 18, 2018 filed with the Canadian securities administrators on www.sedar.com. 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.
Manager, Business Development
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
Steve Campbell, APR
Campbell & Company Public Relations
Tel (604) 888-5267