BioExx Specialty Proteins Ltd.
TSX : BXI

BioExx Specialty Proteins Ltd.

November 22, 2010 07:20 ET

BioExx Enters Continuous Production Operations at Saskatoon Plant

TORONTO, ONTARIO--(Marketwire - Nov. 22, 2010) - BioExx Specialty Proteins Ltd. (TSX:BXI) is pleased to announce that it has commenced the continuous operations process at is Saskatoon plant.

As expected, there were a number of challenges to overcome as the plant was restarted after its lengthy completion period. Each challenge requires adjustments of varying types and degrees, but each successful adjustment also represents a permanent correction to the process. By week's end, the team was pleased with the many successes that were achieved and what was learned in the process.

The plant will be restarted again today and will continue on a schedule designed to have the plant operating on a 7 day, 24 hour per day basis about the same time as the plant is certified for HACCP/ISO22000/GMP in Q1 2011.

At present, the plant is staffed with two complete operating shift crews which allow the plant to be operated up to 3.5 days per week on a 24 hour basis. During the certification period, a third shift crew will be added that will increase operability of the plant up to 5 days per week on a 24 hour basis, and the fourth crew will be added in time to be trained and ready to have the plant operated on a 7 day, 24 hour basis as plant certification is achieved.

Fluctuations in daily operating results are normal and expected during this period and unless there is a material departure from the schedule described, or other developments of a material nature, the company does not intend to report ordinary operating details of the ramp-up process through press releases.

"We have had a number of successes during our first week of renewed operations, and there were some important lessons learned through adjustments that were required to be made," said Chris Carl, BioExx CEO. "Internally, we have set our expectations and goals very high, and we look forward to continued progress and success through the initial ramp-up period up as we move towards food-grade protein sales in Saskatoon."

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 extracting the final quantities of oil necessary to enable its simplified and patent- pending methods for separating proteins from oilseeds. Relative to other commercial processes, the low temperature 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 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, 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.

Contact Information

  • BioExx Specialty Proteins Ltd.
    Chris Schnarr
    Chief Financial Officer
    (416) 588-4442 x111
    cschnarr@bioexx.com
    or
    Investor Relations:
    Brisco Capital Partners
    Scott Koyich, President
    (403) 262-9888
    scott@briscocapital.com