Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

July 02, 2009 07:00 ET

BioExx Awards Stock Options

Officers' Options will not Vest until Protein Isolates are Shipped

TORONTO, ONTARIO--(Marketwire - July 2, 2009) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx" or "the Corporation") today announced that the Board of Directors has approved the award of Options to purchase 1.8 million shares to officers and directors of the Corporation. The Options will have an exercise price of $0.75 per share, vest equally over 24 months from the grant date and have a term of 5 years. As a further constraint, Options awarded to the three senior officers of the Corporation will not begin vesting until after the first shipments of Protein Isolates from the Saskatoon facility. In addition and on the same terms as the Board options, the Corporation is granting an Option to purchase 150,000 shares to its investor relations consultant, Brisco Capital Partners.

The Board of Directors has also confirmed a policy that, except under significant extenuating circumstances and for new employees, the Corporation will only award Options once annually following the completion of its Annual Meeting. This year, the Board elected to delay the award until after the ability to accelerate production of Protein Isolates had been confirmed.

About Bio-Extraction Inc.

Headquartered in Toronto, Canada, BioExx is a leading technology company focused on the extraction of oil and high-value proteins from oilseeds for the global food market. BioExx' patented technology allows for the use of significantly lower temperatures than conventional methods in extracting the active ingredients and oils from oilseeds, resulting in higher yields and higher-quality meal, oils and proteins. BioExx' low energy requirements, environmentally sound process, and high-yield production have the potential to make a valuable contribution in alleviating food scarcity. BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, and has a mission to construct additional and larger processing facilities on a global basis. To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please visit 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's products, the availability of funding, 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."

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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