Functional Technologies Corp.
TSX VENTURE : FEB

Functional Technologies Corp.

March 18, 2010 10:08 ET

Functional Technologies Corp.: Private Placement Closed

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2010) - Functional Technologies Corp. (TSX VENTURE:FEB) announced today that it has closed its private placement unit offering (the "Unit Offering"), originally announced in the company's news release, of March 4, 2010, for gross proceeds of $100,000. A total of 200,000 units (a "Unit") were sold at $0.50 per Unit. Each Unit consists of one of the company's common shares and one half (1/2) of a transferable common-share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to purchase one (1) common share of the company at an exercise price of $0.60 per share until March 16, 2012. No commission or finder's fee was paid on this placement and all securities issued pursuant to the placement will be subject to a hold period expiring July 17, 2010.

About Functional Technologies Corp.
Functional Technologies develops and commercializes proprietary technologies that enhance the natural properties of yeast and algae – nature's microscopic workhorses. Our scientists apply novel techniques to these micro-celled organisms to resolve significant health and quality problems, and generate new opportunities in the global food, beverage and healthcare industries. Our first commercial products are our Phyterra™ line of proprietary yeast strains, designed to reduce the formation of foul-smelling hydrogen sulphide and the carcinogen urethane in wines and other fermented products. Our first target market is the US$1.5 billion wine and distilled spirits yeast markets. With a head office in Vancouver, Functional Technologies has research and development facilities in Prince Edward Island and a U.S. sales office in Napa Valley, California. For more information go to www.functionaltechcorp.com.

Neither the 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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