BIOX Corporation

BIOX Corporation

December 21, 2015 12:34 ET

BIOX Announces Results Impact of US Tax Extenders Passage

TORONTO, ONTARIO--(Marketwired - Dec. 21, 2015) - BIOX Corporation (BIOX) (TSX:BX), a renewable energy company, announces favourable results for the business due to the passage of the Tax Extender's legislation by the US government.

Alan Rickard, CEO of BIOX Corporation said, "This is a significant piece of legislation that will provide much needed industry stability and support. On the retroactive passage of this legislation, BIOX expects a positive impact of approximately US$7 million to be recorded in our Fiscal Q1 results, related to the entire 2015 calendar year. Even greater is the market stability that the proactive passage of this legislation provides. This, combined with the EPA setting the Renewable Volume Obligations for the Renewable Fuel Standard (RFS2) from 2014 through 2017 and Ontario's Greener Diesel requirement increasing to 3% in 2016, gives us a positive outlook for the biomass based diesel market in North America."

Scott Lewis, EVP Commercial Operations & Growth for BIOX stated, "Biodiesel is currently the only commercial scale advanced biofuel available that can deliver substantial and immediate reductions in the emissions of Greenhouse Gases to the transportation sector, helping us to combat climate change now. Having this framework in place creates market certainty and confirms the commitment by the US for this industry."

About BIOX Corporation

BIOX is a renewable energy company that owns and operates a 67 million litre per year continuous flow biodiesel production facility in Hamilton, Ontario. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process. BIOX's high quality biodiesel fuel meets North American (ASTM D-6751) quality standards.

Forward-looking Statements

Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of BIOX, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. Such statements relate to, among other things, BIOX's long-term expectations for the biodiesel market in light of current market conditions and the impact of the retroactive reinstatement of the U.S. biodiesel tax incentive for 2015. These statements reflect BIOX's current views regarding future events and operating performance, are based on information currently available to BIOX, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that BIOX's results of operations and business outlook are highly dependent on a mix of legislation and producer payment programs and tax credits and upon commodity prices, which are subject to significant volatility and uncertainty. Many factors could cause the actual results, performance, objectives or achievements of BIOX to be materially different from any future results, performance, objectives or achievements that may be expressed or implied by such forward-looking statements, including factors described in this press release and those discussed in BIOX's publicly available disclosure documents, as filed by BIOX on SEDAR ( except as updated herein. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, BIOX does not intend and does not assume any obligation to update these forward-looking statements. To the extent any forward-looking statements herein constitute financial outlook, they were approved by management as of the date hereof and have been included to provide an understanding with respect to BIOX's financial performance and are subject to the same risks and assumptions referred to herein. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur and readers are cautioned that any financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein.

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