TORONTO, ONTARIO, Jun 10 (MARKET WIRE) —
BioExx Specialty Proteins Ltd. (TSX: BXI) is pleased to confirm that
progress towards start-up of protein production at its Saskatoon plant
remains steady and generally in line with its latest guidance. The
previous concerns which were primarily caused by delays in receipt of
certain valves and instruments have been resolved in all material
respects allowing the project to move forward at the revised expected
pace.
Notably, equipment installation in the extraction area of the plant and
its ancillary systems is now substantially complete and commissioning of
that area, being the next major activity on the path to production, has
now commenced and is proceeding well. The large protein spray dryer has
now also been completed to a level where the final building cladding is
being installed and commissioning of the protein area of the plant will
begin soon.
“We are pleased with our recent progress and we look forward to
commencement of protein production. The quality of the work being done at
the plant is very good, as is the effort and commitment of the entire
project team,” said Chris Carl, BioExx CEO. “While we continue
to face schedule challenges on an almost daily basis and expect to do so
through to the actual start of production, there is a growing sense of
optimism and excitement among the team as we approach this major
operational milestone.”
Further, in response to several inquiries, BioExx would like to confirm
that its Annual and Special Meeting of Shareholders will be held as
planned on June 17, 2010 at 2:00 p.m. at the Sheraton Hotel in Toronto,
and that this schedule will not be disrupted by issues surrounding the
upcoming G-20 conference.
About BioExx Specialty Proteins Ltd.
Headquartered in Toronto, Canada, BioExx is a leading technology and
industrial processing company focused on the extraction of oil and
high-value proteins from oilseeds for the global food, beverage, and
nutrition markets. BioExx uses patented and patent-pending technology
that utilizes significantly lower temperatures than conventional methods
for extracting the final quantities of oil necessary to enable its
simplified and patent- pending methods for separating proteins from
oilseeds. Relative to other commercial processes, the low temperature
BioExx process results in comparatively low energy requirements,
environmentally sound extraction and protein separation processes, and
very high human food yield that cumulatively have the potential to make a
highly valuable contribution to global food and protein supply while
maintaining an excellent environmentally sustainable footprint. BioExx
operates a commercial scale extraction facility in Saskatoon,
Saskatchewan, is in development stages on it second plant in Minot, North
Dakota and has a mission to construct additional and larger processing
facilities on a global basis.
To find out more about BioExx Specialty Proteins Ltd. (TSX: 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, competition in its target
markets, the demand for BioExx’s products, the availability of funding,
the efficacy of its technology, 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.
Contacts:
BioExx Specialty Proteins Ltd.
Chris Schnarr
Chief Financial Officer
416-588-4442 x111
cschnarr@bioexx.com
www.bioexx.com
Investor Relations:
Brisco Capital Partners
Scott Koyich
President
403-262-9888
scott@briscocapital.com
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