Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

June 25, 2008 08:54 ET

BioExx Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - June 25, 2008) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx") is pleased to announce that it has closed its private placement (the "Offering") previously announced on Tuesday June 17, 2008, sold by a syndicate of agents led by Canaccord Capital Corporation and including Loewen Ondaatje McCutcheon Limited.

The Offering consisted of 10,000,000 Common Shares at $0.35 per share for gross proceeds of $3,500,000. The Common Shares sold pursuant to the Offering will be subject to a four month statutory hold period.

About Bio-Extraction Inc.

The global demand for ever higher food value from agriculture is growing at an unprecedented pace, driven by population growth and economic growth. At the same time, food supply constraints are increasing, due to urban development of arable land, alternate uses of crops for bio-fuel and other industrial purposes, and many crops having already maximized yields. The result is an alarming imbalance between over-demand and under-supply.

BioExx owns patented technology which allows for much lower temperatures to be used for the extraction of active ingredients and oils from biomass. This makes BioExx particularly well suited to process oilseed crops in a manner that allows for the production of much higher value additives to the food chain, in the form of higher yields of high value proteins which tend to be temperature sensitive. While forming just a small, but very valuable part of the solution to prominent global agricultural problems, BioExx has a mandate to rapidly grow the company through the construction and operation of extraction facilities around the world - and because of its much lower energy requirements, to do so in a very environmentally responsible manner.

To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please visit our website at http://www.bioexx.com.

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, the demand for BioExx' products, the availability of funding, and the anticipated costs of BioExx' 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 the BioExx' expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

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