burcon functional foods corporation

This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Vancouver, British Columbia--(Newsfile Corp. - August 27, 2020) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BUROF) ("Burcon"), a global technology leader … In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Established in 2019, Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with the highest quality protein ingredients and blends that offer unmatched purity, exceptional taste, and excellent solubility. Merit has said the joint agreement commences what is intended to be a long-term relationship among the parties covering ongoing innovation and the future supply of Burcon and … As one of the leading processors of canola in Canada, Bunge has strong origination expertise and will supply Merit with certain critical inputs. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the expected use of proceeds contained in this press release. Corporation Number: 11412728 Merit Functional Foods Corporation is a company governing under the Canada Business Corporations Act - 15 May 2019 (Wednesday). 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 29, 2020 filed with the Canadian securities administrators on www.sedar.com. As part of the transactions announced today, Bunge, Burcon and Merit’s other shareholders have agreed to certain contractual rights, including a right, but not an obligation, of Burcon, in certain circumstances, to participate in a sale of all but not less than all of its shares in Merit, and that in certain circumstances, Merit will have the right to buyout from Burcon the May 2019 license and production agreement for an amount representing the discounted future royalties over the life of the license agreement. The demand for plant-based foods and beverages including dairy and meat alternatives is rapidly increasing. Vancouver, August 27, 2020 – Burcon NutraScience Corporation (“Burcon”) (TSX:BU, OTCQB:BUROF), a global technology leader in the development of plant-based proteins, is pleased to announce that its joint venture company, Merit Functional Foods Corporation (“Merit Foods” or “Merit”) has received a $30 million investment from a new equity partner, Bunge Limited (NYSE: BG) (“Bunge”), a leading international agribusiness and food company. Burcon Functional Foods Corporation Burcon has established – through a joint venture partnership with an investor group with extensive manufacturing and sales experience in the protein industry – a new operating entity, Burcon Functional Foods Corporation (“Burcon Foods”), which will own and operate the new protein production facility. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit is building a state-of-the-art production facility in Winnipeg, where it will produce a portfolio of pea and canola protein ingredients with exceptional functional and nutritional values. The partnership will expedite Merit’s construction of its state-of-the-art plant-based protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Find the latest BURCON NUTRASCIENCE CORP (BUROF) stock quote, history, news and other vital information to help you with your stock trading and investing. Burcon NutraScience Corporation was formed in November 1998 as a venture capital pool corporation whose principal business was to identify and evaluate assets, properties and businesses for acquisition. For more information, visit meritfoods.com. Terms of use. Building on our unique environmentally friendly and clean-label extraction and purification technologies, the company now boasts an extensive portfolio of innovative composition, application, and process patents. Burcon NutraScience Corporation is a global leader in innovative technologies for the large-scale production of high-quality, cost-effective plant-based proteins and ingredients for use in the global food and beverage industries. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. 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 Information Cautionary Statement. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Founded in 1818, Bunge’s expansive network feeds and fuels a growing world, creating sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. With over 285 issued patents and more than 250 additional patent applications developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. Burcon is a global technology leader in the development of plant-based proteins. The joint venture became Merit Functional Foods, which has an exclusive 20-year royalty-bearing license agreement with Burcon for the production, sale, … Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. 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. Bunge’s experience in selling canola-based products will complement Merit’s patented processing technology. For more information visit www.burcon.ca. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients. On May 23, 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. Canola is the North American name for the enhanced variation of rapeseed first developed and introduced in 1974 when a Canadian researcher bred a “double low” variety of rapeseed with reduced levels of the two negative factors naturally occurring in rapeseed: erucic acid and glucosinolates. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. Since that time, Burcon has evolved to become a global technology leader and innovator in the development of plant-based proteins. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Functional Foods is building a 94,000 square foot production facility in Winnipeg to produce high quality pea and canola proteins. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. GENERAL DEVELOPMENT OF THE BUSINESS Burcon seeks to improve the health and wellness of global consumers through the discovery and development of sustainable, functional and renewable plant-based products for the global food and beverage industries. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. “Bunge also holds a deep knowledge of international commodity markets which will help reinforce our canola business globally.”. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. “We’re excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch,” Merit’s Co-CEO Ryan Bracken said. In 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. It was incorporated on 15 May 2019 (Wednesday) in Canada and as of 15 May 2019 (Wednesday) is an active company. About Burcon NutraScience Corporation Burcon is a global technology leader in the development of plant-based proteins. Burcon NutraScience Corporation, a leader in plant proteins, announces that its joint venture company, Merit Functional Foods Corp, has secured a debt financing package up to $85 million of capital from a syndicate of lenders including Export Development Canada, Farm Credit Canada and the Canadian Imperial Bank of Commerce. With over 285 issued patents and more than 250 additional patent applications, that have been developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. On October 8, 1999 Burcon acquired BMW Canola Inc. of Winnipeg, Manitoba (now renamed Burcon Nutrascience (MB)). Tel (604) 733-0896, Toll-free (888) 408-7960, Legal notice | Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… With this transaction, Burcon is aligned with a leader in the global food ingredients industry, expanding Merit’s reach to new customers and consumers in Canada, North America and worldwide.”. It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. 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. “Burcon is thrilled to have Bunge as an equity partner in Merit Foods,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding: “This secures the future for Merit, which will benefit greatly from Bunge’s large canola origination footprint and multinational platform. Burcon JV Company, Merit Functional Foods, Partners with Bunge to Bring Pea and Canola Protein to Market 08/27/2020. A partnership agreement has been made by Burcon, Nestlé and Merit Functional Foods Corporation to tailor Burcon and Merit’s novel plant-based proteins for use in Nestlé food and beverage applications.. Merit’s product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications. Its name was changed to Merit Functional Foods Corporation on June 20, 2019. About Burcon NutraScience Corporation Burcon is a global technology leader in the development of plant-based proteins. Terms of use. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… In addition to purchasing equity directly from Merit, Bunge purchased additional shares and debt from existing Merit shareholders who are Burcon’s joint venture partners. ) 408-7960, Legal notice | Terms of use the highest-quality plant-based proteins the meaning of the U.S of... 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