BioExx Specialty Proteins Ltd.
TSX : BXI

BioExx Specialty Proteins Ltd.

March 30, 2010 08:45 ET

BioExx Closes $17.3 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - March 30, 2010) -   

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BioExx Specialty Proteins Ltd. (TSX:BXI) ("BioExx") is pleased to announce that it has closed its previously announced bought deal financing, sold by a syndicate of underwriters led by Canaccord Financial Ltd., and including Cormark Securities Inc., Wellington West Capital Markets Inc., GMP Securities L.P., Fraser Mackenzie Limited and Loewen, Ondaatje, McCutcheon Limited. Including the full exercise of the over-allotment option, the financing consisted of 9,372,500 common shares sold at $1.85 per share for gross proceeds of $17,339,125. 

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.

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