Functional Technologies Corp.
TSX VENTURE : FEB

Functional Technologies Corp.

March 04, 2010 09:00 ET

Functional Technologies Retains Brisco Capital to Provide Investor Relations Services

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Functional Technologies Corp. (TSX VENTURE:FEB) is pleased to announce that it has retained the services of Brisco Capital Partners Corp., of Calgary, Alberta to provide investor relations services. Brisco will work with Functional Technologies to initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the company and its developments. 

"We're really looking forward to working with Brisco Capital", said Garth Greenham, President and COO of Functional Technologies. "As we're now commercializing products and starting to work with major partners, this is the right time to expand our investor network".

The agreement with Brisco, which is subject to regulatory approval, is effective March 1, 2010, and may be terminated by either party at any time with 30 days notice. Brisco will be paid a monthly fee of $2500 and has been granted 200,000 options to purchase common shares of the company at a price of $.52 per share for five years. The options will vest equally and quarterly over the first 12 months after issuance and are subject to receipt of all necessary approvals from the TSX Venture Exchange. 

In conjunction with the Brisco contract, Functional Technologies has arranged a non-brokered private placement of 200,000 units at CDN $0.50 per unit, for aggregate gross proceeds of CDN $100,000. Each unit will be comprised of one (1) common share of the Company and one half (1/2) of a common share purchase warrant, with each whole warrant entitling the holder to purchase one (1) common share of the Company at an exercise price of $0.60 per share for a period of 24 months following the closing. No commission or finder's fee will be paid on this placement and all securities issued pursuant to the placement will be subject to a four-month hold period starting on the closing date.

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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