Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

December 30, 2009 07:15 ET

BioExx Announces Change of Name to BioExx Specialty Proteins Ltd.

TORONTO, ONTARIO--(Marketwire - Dec. 30, 2009) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx" or "the Company") announced today that it has changed its name to BioExx Specialty Proteins Ltd. Management has completed the name change, previously approved by shareholders, to reflect its core protein business focus and to formally adopt the name by which the Company is generally known in the marketplace, "BioExx". The TSX Venture Exchange has given its approval to the name change, and effective at the opening on January 4, 2010 the common shares of the Company will trade under the name BioExx Specialty Proteins Ltd. The trading symbol of the Company will remain unchanged as "BXI", and shareholders of the Company can trade existing shares without the need to transfer any certificates into the Company's new name.

Concurrently with the name change, the name of the Company's subsidiary which owns and operates its Saskatoon canola protein production facility has been changed to BioExx Proteins of Saskatoon Inc. The Company has also incorporated a North Dakota subsidiary company, BioExx Proteins of North Dakota Inc., which will construct, own, and operate the Company's facility to be located in Minot, North Dakota. This is consistent with the Company's organizational principle of having each production facility owned and operated by a separate wholly owned subsidiary.

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's patented technology allows for the use of significantly lower temperatures than conventional methods in extracting the active ingredients and oils from oilseeds, resulting in higher yields and higher-quality meal, oils and proteins. BioExx's low energy requirements, environmentally sound process, and high-yield production have the potential to make a valuable contribution to global food and protein supply. 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 VENTURE: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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • BioExx Specialty Proteins Ltd.:
    Chris Schnarr
    Chief Financial Officer
    (416) 588-4442 x111
    cschnarr@bioexx.com
    or
    Investor Relations:
    Brisco Capital Partners
    Scott Koyich, President
    (403) 262-9888
    scott@briscocapital.com