Immuno Research Inc.

May 31, 2006 18:28 ET

Immuno Research Announces Signing of Share Purchase Agreement with the Shareholders of Simplimix Food Inc.

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 31, 2006) - Immuno Research Inc. (TSX VENTURE:IRI) is pleased to announce the signing of a share purchase agreement dated May 26, 2006, whereby Immuno agrees to acquire a 51 percent interest in the issued shares of Simplimix Food Inc. This agreement remains subject to the satisfactory completion of due diligence and regulatory approval.

"With the acquisition of Simplimix, Immuno will be able to participate in the down stream value added benefits of its by-products, and will also be able to ensure a timely and commercially viable disposition of its residual by-products in the form of pellets," says John Mason, President and CEO of Immuno. "It is this attribute that makes the extraction of antibodies from eggs commercially feasible."

Immunoglobulin protein molecules account for only one percent of an egg yolk and the residual by-product accounts for the other ninety-nine percent of the original yolk. It has been found that by the appropriate formulating of the pellet, the resultant product has significant benefits over conventional whole egg powder and can be utilized in the manufacturing of pasta, mayonnaise, pancake mix, etc.

Simplimix will have a first right of refusal to purchase all pellets produced by Immuno and all sales of pellets by Immuno to Simplimix will be fixed at a mutually agreed price, based on the price Immuno pays for egg yolk, to be reviewed and mutually adjusted over the next twelve months.

On behalf of the Board of Directors, John Mason, President and CEO.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ascenta Capital Partners Inc.
    Francis Reynolds
    Investor Relations
    (604) 684-4743 ext. 28 or Toll Free: 1-866-684-4743 ext. 28
    Immuno Research Inc. - Vancouver Office
    John Mason
    (604) 807-8694
    (604) 926-1485 (FAX)