BioExx Specialty Proteins Ltd.

BioExx Specialty Proteins Ltd.

September 02, 2010 08:20 ET

BioExx Announces Closing of Over Allotment Option

TORONTO, ONTARIO--(Marketwire - Sept. 2, 2010) -


BioExx Specialty Proteins Ltd. (TSX:BXI) ("BioExx") is pleased to announce that it has completed the sale today of 2,310,000 common shares at a price of C$1.95 per common share pursuant to the exercise in full of an overallotment option by a syndicate of underwriters led by Canaccord Genuity Corp. and including Wellington West Capital Markets Inc., Cormark Securities Inc, Fraser Mackenzie Limited, GMP Securities L.P. and Stonecap Securities Inc. (the "Underwriters").

The overallotment option was granted by BioExx to the Underwriters in connection with its previously announced public offering which was completed on August 24, 2010. Including the over allotment, the offering totalled 17,710,000 common shares for aggregate gross proceeds to BioExx of C$34,534,500.

About BioExx Specialty Proteins Ltd.

Headquartered in Toronto, Canada, BioExx is a leading technology and industrial processing company focused on the extraction of oil and high-value proteins from oilseeds for the global food, beverage, and nutrition markets. BioExx uses patented and patent-pending technology that utilizes significantly lower temperatures than conventional methods for oil extraction, to enable its simplified and patent-pending methods for separating proteins from oilseeds. Relative to other commercial processes, the BioExx process results in comparatively low energy requirements, environmentally sound extraction and protein separation processes, and very high human food yield that cumulatively have the potential to make a highly valuable contribution to global food and protein supply while maintaining an excellent environmentally sustainable footprint. BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, is in development stages on it second plant in Minot, North Dakota and has a mission to construct additional and larger processing facilities on a global basis.

To find out more about BioExx Specialty Proteins Ltd. (TSX:BXI), please visit

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for BioExx's products, the availability of funding, the efficacy of its technology, and the anticipated costs of BioExx's plant construction and operation. These forward-looking statements are made as of the date hereof and BioExx does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from BioExx's expectations and projections.

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