Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

October 26, 2009 07:00 ET

BioExx Granted ISO 22000, HACCP and GMP Certification

Also Receives Saskatchewan ABEX Award for Best New Product

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2009) – Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx" or "the Company") is pleased to announce that it has received a Certificate of Registration that certifies that the Food Safety Management System of BioExx Specialty Proteins Inc. ("BSPI") has been assessed by NSF-ISR and found to be in conformance with ISO 22000:2005 where the Scope of Registration is Canola oilseed processing. NSF-ISR is a not- for-profit, non-governmental organization that is the world leader in standards development, product certification, education, and risk-management for public health and safety. BSPI is a wholly owned subsidiary of Bio-Extraction Inc. and is the owner and operator of the Company's canola processing facility in Saskatoon.

ISO 22000:2005 requires that all hazards that may be reasonably expected to occur in the food chain, including hazards that may be associated with the type of process and facilities used, are identified and assessed. Thus it provides the means to determine and document why certain identified hazards need to be controlled by a particular organization and why others need not. ISO 22000 integrates the principles of the Hazard Analysis and Critical Control Point (HACCP) system and application steps developed by the Codex Alimentarius Commission.

To successfully complete the ISO 22000:2005 audit, an applicant must also demonstrate that it has adequately installed both HACCP and GMP procedures and is practicing both to a level that is consistent with the requirements set out under ISO 22000:2005.

HACCP is internationally recognized as the primary means for enhancing food safety throughout the food chain, and is increasingly being used around the world. HACCP, or, Hazard Analysis Critical Control Points, is a standard designed to prevent, reduce or eliminate potential biological, chemical and physical food safety hazards.

Good manufacturing practices or "GMP" is a term that is recognized worldwide for the control and management of manufacturing and quality control of foods, pharmaceutical products, and medical devices. GMPs are guidelines that outline the aspects of production that would affect the quality of a product. In Canada, GMP is controlled and monitored by Health Canada.

"We are very proud of our Saskatoon team for achieving this important certification so early in the plant life-cycle. While firmly expected, we do believe this is an important milestone as it demonstrates a readiness to manage the critical issue of food safety, and the additional controls that will be required, as we commence our specialty protein production," says BioExx CEO Chris Carl. "We also believe that this is exemplary of the very strong importance that senior management puts on quality in every aspect of our operations."

ABEX Award

BioExx is very proud to announce that it is the recipient of the 2009 Achievement for Business Excellence (ABEX) Award in the category of Technology-In-Action New Saskatchewan Product. The award, which was issued by the Saskatchewan Chamber of Commerce on Saturday, October 24th, and sponsored by the Saskatchewan Research Council, goes to a business demonstrating exceptional performance in launching a new Saskatchewan- made product, technology or service, which is original and has strong commercial potential.

Laurence Parslow, General Manager of the Saskatoon Plant and Director of Research and Development for BioExx, accepted the award. "It is a great honour to be recognized in our community among so many other excellent Saskatchewan companies," said Mr. Parslow. "We are very excited about the new canola based protein products that we are bringing to market and we look forward to continued success working with some of the best minds and research organizations in the industry here in Saskatchewan."

The award also includes a $10,000 monetary prize provided by SRC's Technology-in-Action Fund. BioExx intends to use the funds either to make a donation, or to create a program of its own, aimed at assisting others in furthering their post-secondary, science-related education in Saskatchewan.

About Bio-Extraction Inc.

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 in alleviating food scarcity. BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, and has a mission to construct additional and larger processing facilities on a global basis. To find out more about Bio-Extraction Inc. (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

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