Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

December 08, 2009 07:01 ET

BioExx Minot Facility Passes Key Environmental Assessment

Isolate Construction Proceeding Well in Saskatoon

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2009) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx" or "the Company") is pleased to announce that it has received formal notice from the North Dakota Department of Health, Air Quality Division (the "NDAQD"), that it has completed its environmental review of the proposed BioExx canola processing facility to be located in Minot, North Dakota. Based on the design parameters of the facility, which includes the full capacity required to produce Protein Isolates, and the resulting effluents expected, NDAQD has determined that "the facility will not be classified as a major source under any applicable air pollution rules or regulations." Accordingly, BioExx may now proceed with applications for the standard, and ordinary course construction and operating permits.

BioExx was seeking this confirmation prior to advancing many of the engineering based development initiatives and with this confirmation in hand, will now start to increase its activities rather significantly. These activities will be primarily undertaken by personnel not directly involved in the completion of the Saskatoon facility so that no devaluation of effort occurs on that project. This will also trigger the advancement of several commercial development initiatives to support the project and to prepare it for financing and physical commencement in the second quarter of 2010 as previously disclosed.

"Successfully getting through the critical Environmental Assessment process is an important milestone to achieve for every new project that BioExx undertakes and signals that we are now entering the final development stages of the project. BioExx is very excited about moving the Minot project forward and to commencing construction as soon as possible, once the Saskatoon facility is fully operational," said BioExx CEO, Chris Carl.

Other News

BioExx is pleased to report that construction activities for the expansion of the Saskatoon facility to produce Protein Isolates are progressing well. At present, the company has been advised by its various suppliers that all equipment that has been ordered is on schedule and provided that this situation continues, the project is expected to remain on schedule, with an important interim milestone being the commencement of commissioning of equipment in late January 2010.

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 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 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.

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