BioEnterprise Corporation

BioEnterprise Corporation

December 05, 2007 14:02 ET

BioEnterprise Corporation Raises $400,000 for Vinifera for Life

Proceeds to be used for marketing and production of Vinifera Powders

GUELPH, ONTARIO--(Marketwire - Dec. 5, 2007) -

Attention: Business, Agriculture and Food Editors

BioEnterprise Corporation announced today that it has raised $400,000 for Vinifera For Life, a Jordan, Ontario-based company. The funds came from six private sources with connections to the food, wine-making and agriculture industries.

"This is a great vote of confidence in the promise of the product," said Mark Walpole, president of Vinifera For Life and the innovator who developed the powder and the processes for making it. "This enables us to move to a new level of activity in production and marketing of the powders."

Proceeds will be used for expanding marketing and production of Vinifera powders for use in the food service and baking industries.

Vinifera For Life powders are made from the pomace left over from the press of wine varietal grapes used in making wine. The pomace is dried, sifted and milled to a fine powder which can be used as a partial substitute for wheat flour in making baked goods, pastas or sauces. The powders convey a taste of Cabernet Sauvignon, Chardonnay, Pinot Noir or Ice Wine ranging from subtle to distinct, depending on the degree of substitution.

In addition to the taste, the powders also provide dietary fibre, vitamin A, potassium, calcium, iron, Omega 3 and Omega 6 as well as resveratrol, which has been associated with longevity, weight control and prevention of heart disease.

"Vinifera For Life has a wonderful product and a dedicated and innovative president," said Dave Smardon, president of BioEnterprise. "It has great potential as an investment and as a product that can provide both delicious taste and health benefits."

About BioEnterprise

BioEnterprise's mission is to become the leading Commercialization Agent in Canada for the Agri-Food, Agri-Life Sciences and Bio-Product industries.

BioEnterprise will be established as a recognized leader in commercializing high-growth opportunities from within the Agri-Food, Agri-Life Sciences and Bio-Products industries by 2008.

BioEnterprise is a builder of Innovative Bio-Based businesses. We work closely with entrepreneurs to support them in ensuring that they are able to build successful, sustainable business.

Funding for BIOENTERPRISE has been provided by Agriculture and Agri-Food Canada and the Ontario Ministry of Agriculture, Food and Rural Affairs under the Agricultural Policy Framework, an agreement among federal, provincial and territorial governments to make Canada's agriculture and agri-food sector a world leader in science and innovation. Funding has also been provided by the Ontario Ministry of Research and Innovation under the Ontario Research Commercialization Program.

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