Burcon Announces its Alliance Partner Signs Purchase and Sale Agreement to Acquire Protein Production Facility
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) announced that its alliance partner, RE ProMan, , has signed a Purchase and Sale Agreement to acquire a protein production facility in North America. The agreement was signed by ProMan, led by John Vassallo, who is also a director and shareholder of Burcon.
The acquisition is subject to due diligence and approval by the parties. The facility was selected after reviewing several commercial locations capable of producing Burcon's entire protein portfolio. Burcon has prepared comprehensive plans for facility start-up, including raw material procurement, production ramp, and product launch.
Upon transaction closing, Burcon plans to install proprietary unit operations and begin commercial-scale production of its protein products during the first half of 2025. This acquisition will provide Burcon with direct market access for all its protein products and control over commercial production.
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) ha annunciato che il suo partner alleato, RE ProMan, , ha firmato un Contratto di Acquisto e Vendita per acquisire un impianto di produzione di proteine in Nord America. Il contratto è stato firmato da ProMan, guidata da John Vassallo, che è anche direttore e azionista di Burcon.
L'acquisizione è soggetta a due diligence e approvazione da parte delle parti. L'impianto è stato selezionato dopo aver esaminato diverse sedi commerciali in grado di produrre l'intero portafoglio di proteine di Burcon. Burcon ha preparato piani completi per l'avvio dell'impianto, inclusi approvvigionamento di materie prime, aumento della produzione e lancio del prodotto.
Una volta conclusa la transazione, Burcon prevede di installare operazioni di unità proprietary e di iniziare la produzione su scala commerciale dei suoi prodotti proteici nella prima metà del 2025. Questa acquisizione fornirà a Burcon l'accesso diretto al mercato per tutti i suoi prodotti proteici e il controllo sulla produzione commerciale.
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) anunció que su socio aliado, RE ProMan, , ha firmado un Acuerdo de Compra y Venta para adquirir una instalación de producción de proteínas en América del Norte. El acuerdo fue firmado por ProMan, liderada por John Vassallo, quien también es director y accionista de Burcon.
La adquisición está sujeta a la debida diligencia y aprobación por parte de las partes. La instalación fue seleccionada después de revisar varias ubicaciones comerciales capaces de producir todo el portafolio de proteínas de Burcon. Burcon ha preparado planes integrales para el inicio de la instalación, incluido el aprovisionamiento de materias primas, aumento de producción y lanzamiento de productos.
Una vez cerrada la transacción, Burcon planea instalar operaciones unitarias propias y comenzar la producción a escala comercial de sus productos proteicos durante la primera mitad de 2025. Esta adquisición proporcionará a Burcon acceso directo al mercado para todos sus productos proteicos y control sobre la producción comercial.
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF)는 자사의 제휴 파트너인 RE ProMan 이 북미에 있는 단백질 생산 시설을 인수하기 위한 매매 계약을 체결했다고 발표했습니다. 계약은 Burcon의 이사이자 주주인 John Vassallo가 이끄는 ProMan에 의해 서명되었습니다.
이번 인수는 실사를 거쳐 양 당사자의 승인을 받아야 합니다. 이 시설은 Burcon의 전체 단백질 포트폴리오를 생산할 수 있는 여러 상업적 위치를 검토한 후 선택되었습니다. Burcon은 원자재 조달, 생산 확대 및 제품 출시를 포함한 시설 시작을 위한 포괄적인 계획을 준비했습니다.
거래 종료 후, Burcon은 독점적인 단위 운영을 설치하고 2025년 상반기 내에 자사의 단백질 제품에 대한 상업적 규모의 생산을 시작할 계획입니다. 이번 인수는 Burcon에게 모든 단백질 제품에 대한 직접 시장 접근과 상업적 생산에 대한 통제를 제공할 것입니다.
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) a annoncé que son partenaire allié, RE ProMan, , a signé un contrat de vente pour acquérir une installation de production de protéines en Amérique du Nord. Le contrat a été signé par ProMan, dirigée par John Vassallo, qui est également directeur et actionnaire de Burcon.
L'acquisition est soumise à une due diligence et à l'approbation des parties. L'installation a été choisie après avoir examiné plusieurs sites commerciaux capables de produire l'ensemble du portefeuille de protéines de Burcon. Burcon a préparé des plans complets pour le démarrage de l'installation, y compris l'approvisionnement en matières premières, l'augmentation de la production et le lancement du produit.
Une fois la transaction conclue, Burcon prévoit d'installer des opérations unitaires propriétaires et de commencer la production à grande échelle de ses produits protéiques au cours de la première moitié de 2025. Cette acquisition fournira à Burcon un accès direct au marché pour tous ses produits protéiques et un contrôle sur la production commerciale.
Burcon NutraScience (TSX: BU) (OTCQB: BRCNF) gab bekannt, dass sein Partner RE ProMan einen Kauf- und Verkaufsvertrag zur Akquisition einer Proteinproduktionsanlage in Nordamerika unterzeichnet hat. Der Vertrag wurde von ProMan, geleitet von John Vassallo, der ebenfalls Direktor und Anteilseigner von Burcon ist, unterzeichnet.
Die Akquisition steht unter dem Vorbehalt der Due Diligence und der Genehmigung der Parteien. Die Anlage wurde ausgewählt, nachdem mehrere gewerbliche Standorte überprüft wurden, die in der Lage sind, das gesamte Proteinportfolio von Burcon zu produzieren. Burcon hat umfassende Pläne für den Start der Anlage vorbereitet, einschließlich der Beschaffung von Rohstoffen, der Produktionssteigerung und der Produkteinführung.
Nach Abschluss der Transaktion plant Burcon, proprietäre Prozesse zu installieren und in der ersten Hälfte des Jahres 2025 mit der komm erschen Produktionskapazität seiner Proteinprodukte zu beginnen. Diese Akquisition wird Burcon direkten Marktzugang für alle seine Proteinprodukte und Kontrolle über die kommerzielle Produktion bieten.
- Acquisition of dedicated commercial production facility
- Direct control over production and market access
- Commercial-scale production expected to begin in H1 2025
- Transaction still subject to due diligence and approval
- Capital expenditure required for proprietary unit operations installation
Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that its alliance partner, RE ProMan, LLC ("ProMan"), has signed a Purchase and Sale Agreement (the "PSA") to acquire a protein production facility in North America (the "Transaction").
Pursuant to the terms of the PSA, ProMan, a company led by Mr. John Vassallo, a director and shareholder of Burcon, has entered into a binding agreement to purchase a commercial production facility. The closing of the Transaction is subject to certain conditions, including satisfactory due diligence and approval by the parties.
"This acquisition is the result of months of dedication and collaboration between ProMan and Burcon," said John Vassallo, Burcon’s director. "It underscores our strong confidence in Burcon’s proprietary protein technologies, leadership, and ability to successfully execute a capital-light strategy."
"A dedicated commercial facility gives us a direct path to market for all our protein products, putting us in control of our own commercial production," said Kip Underwood, Burcon’s chief executive officer. "We are excited to begin production and to deliver our products to prospective customers."
Following the review of several commercial facilities with the potential to produce Burcon's entire protein portfolio, Burcon and ProMan identified this facility as an ideal fit. Burcon has developed comprehensive plans for facility start-up, raw material procurement, production ramp, product launch and sales. Upon the close of the Transaction, Burcon expects to complete installation of proprietary unit operations and begin commercial-scale production of its protein products during the first half of 2025.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is committed to delivering next-generation, best-in-class protein solutions, positioning itself as a key player in the rapidly expanding plant-based market. Supporting the growing trend towards a plant-based diet, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. For more information, visit www.burcon.ca.
Forward-Looking Information Cautionary Statement
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," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. 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. Forward-looking statements in this press release, include, among other, statements about satisfaction of the conditions to the PSA, completion of the acquisition of the commercial production facility by ProMan and Burcon beginning commercial production of its protein products. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; inability of ProMan to complete the purchase of the commercial production facility; inability of Burcon to begin commercial production of our protein products in 2025; 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 for the year ended March 31, 2024 and its other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only 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 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.
Industry and Investor Contact
Paul Lam
Director, Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.ca www.burcon.ca
Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239102
FAQ
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