Avrio Ventures Management Corporation

Avrio Ventures Management Corporation

April 17, 2009 12:10 ET

Avrio Ventures Invests in Manitoba Harvest to Support Its Rapid Growth

WINNIPEG, MANITOBA--(Marketwire - April 17, 2009) - Avrio Ventures announced today that it has closed a Series A round investment into Manitoba Harvest. ("Manitoba"). Avrio's investment will support Manitoba's rapid growth in current and new channels of distribution as well as the company's science-based research approach to new product development.

Hemp food and supplements and functional foods containing hemp derived nutraceuticals are among fastest growing categories in the natural products industry. Hemp oil, extracted from hemp seed, is one of the plant kingdom's richest sources of essential fatty acids. As one of the most nutritious food oils for humans, it contains the essential fatty acids Omega-3 and Omega-6 as well as amino acids and antioxidants. Hemp foods have health benefits ranging from the prevention or attenuation of diabetes, cancer, lupus, asthma, rheumatoid arthritis, depression and hypertension. The potential role of essential fatty acids in growth and development as well as diseases like coronary heart disease is a fast growing area of research.

"We are extremely pleased that Avrio Ventures has chosen to invest in Manitoba Harvest. Their understanding of vertically integrated food technology companies, the nutraceutical and functional food industries, and their unique regulatory requirements, will help our company to capitalize on the multiple opportunities we see in the market," said Mike Fata, CEO of Manitoba. "There continues to be a growing demand by consumers for hemp derived nutraceutical and functional foods products including protein that offer scientifically proven health benefits which are of high quality and based from non-chemical, natural ingredients."

"Manitoba has a proven track record of innovative product development and of bringing to market the highest quality hemp based nutraceutical and functional food products. They are the main supplier and market maker for these products and work in concert with consumer products manufactures to create unique products that compliment and extend their brand portfolios," commented Mr. Jim Taylor, Managing Partner of Avrio Ventures. "The company is well positioned to extend its leadership in the natural functional foods and nutraceutical industries."

About Avrio Ventures Management Corporation

Avrio Ventures is a venture capital firm that supports the development of Canadian commercialization and growth stage industrial bio-products, nutraceutical ingredients and food technology companies into world-class organizations.

www.avrioventures.com.

About Manitoba Harvest.

Manitoba is an innovative vertically integrated company that specializes in creating and manufacturing nutraceutical and functional food products from Hemp under its own brand as well as supplying other manufacturers of leading consumer based health product offerings.

http://www.manitobaharvest.com/index.asp

Contact Information

  • Avrio Ventures Management Corporation
    Jim Taylor
    Managing Partner
    (403) 215-5490
    Email: jtaylor@avrioventures.com
    or
    Avrio Ventures Management Corporation
    340-2618 Hopewell Place N.E.
    Calgary, Alberta T1Y 7J7
    Website: www.avrioventures.com
    or
    Fresh Hemp Foods Inc.
    Mike Fata
    (204) 953-0236
    Email: mike@manitobaharvest.com
    or
    Fresh Hemp Foods Inc.
    69 Eagle Drive
    Winnipeg, Manitoba R2R 1V4