BlueOcean NutraSciences Inc.

BlueOcean NutraSciences Inc.
CMAX Technologies Inc.

February 17, 2015 18:36 ET

BlueOcean and CMAX Sign Joint Venture Agreement

TORONTO, ONTARIO--(Marketwired - Feb. 17, 2015) -

Editors Note: There is a photo associated with this press release.

BlueOcean NutraSciences Inc. ("BlueOcean") (TSX VENTURE:BOC) is pleased to announce the signing of a Joint Venture Agreement ("JV") with CMAX Technologies Inc ("CMAX"). The JV (2453969 Ontario Inc.), combines BlueOcean's omega-3/astaxanthin oil ingredients supply and marketing expertise with CMAX's proprietary formulation technology to produce slow-release omega-3 tablets from a variety of oils including shrimp, krill, algal and fish oils. These tablets target the rapidly growing omega-3 and astaxanthin dietary supplements markets.

Tablet formulation development work is underway with commercially ready slow-release tablet samples from omega-3 fish oils expected in March 2015 from CMAX's tableting facility in Toronto, Canada. The JV will also produce tablets from BlueOcean's supply of shrimp oil ingredients, as well as provide custom tablet formulations for customers using their preferred omega-3 fish, krill and algal oils.

Slow-release tableting of omega-3/astaxanthin oils is a new formulation for these essential dietary supplements which are currently only available in standard gel caps. CMAX's tableting technology is currently being used in the pharmaceutical industry for the formulation of a number of BCS class 2 drugs currently awaiting FDA approval. These slow-release omega tablets will be much smaller and easier to swallow than standard omega-3 gel caps.

CMAX's patent-pending slow-release technology has been proven to result in dramatic bio-availability increases in pharmaceutical applications. The slow-release omega-3 tablets will also be formulated for maximum bio-availability versus standard omega-3 fish oil gel caps.

The tiny omega-3 fish oil tablets seen above were made by the JV using powdered omega-3 fish oil. They contain approximately 150 mg EPA and 125 mg DHA. The JV will also offer custom formulation for customers from their preferred fish, krill and algal oils, or will license its formulation technology to those customers who prefer to produce their own slow-release tablets.

Also seen above is a sample of BlueOcean's AstaShrimp™ oil that will be sold as a bulk ingredient from BlueOcean's other joint venture, 70717 Newfoundland and Labrador Ltd as well as be used to make two slow-release shrimp oil tablets in the JV.

The first shrimp oil tablet, Pacific Pure™, will be made from BlueOcean's Pacific AstaShrimp™ and will contain over 2 mg astaxanthin, 125 mg phospholipids 40 mg EPA and 30 mg DHA. Both the Pacific AstaShrimp™ bulk oil and Pacific Pure™ tablets will be available for commercial production and sale in March 2015.

The second shrimp oil tablet, Arctic Pure™, will be made from BlueOcean's Northern AstaShrimp™ oil extracted from the shrimp by-products of Marine Stewardship Council certified Canadian Northern cold water shrimp. Arctic Pure™ will contain over 3 mg astaxanthin, 150 mg phospholipids, 70 mg EPA and 40 mg DHA. Northern AstaShrimp™ bulk oil and Arctic Pure™ tablets can be ordered now.

About BlueOcean NutraSciences Inc.

BlueOcean NutraSciences Inc. is a Canadian listed public company (TSX VENTURE:BOC) that is focused on developing sustainable, specialty nutraceutical oil products targeted at the rapidly growing Natural Astaxanthin and Omega-3 oil health and wellness markets.

BlueOcean is developing two lines of specialty oil products: AstaShrimp™ oils and AlgaOmega™ oils. BlueOcean owns 50% of the participating and voting rights in 70717 Newfoundland and Labrador Ltd, a joint venture with a major Atlantic Canada shrimp processor that provides the shrimp feedstock for the extraction of AstaShrimp™oils, and owns 100% of its AlgaOmega™ product line. BlueOcean is also now developing a line of slow-release nutraceutical tablets made from omega-3 oils through its new 50% owned joint venture, 2453969 Ontario Inc., with CMAX Technologies.

AstaShrimp™ oils contain high levels of naturally occurring astaxanthin, phospholipids, and omega-3 EPA and DHA. AstaShrimp™ oils are being targeted at the high value and rapidly growing natural astaxanthin market which is expected to grow to over $700M by 2017. AlgaOmega™ oil is a vegetarian, non-GMO omega-3 algal oils containing EPA with polar lipids and is targeted at the rapidly growing omega-3 algal oil ingredient market that is currently valued at $500M and growing at 14% CAGR. BlueOcean's omega-3/astaxanthin tablets are also targeted at the rapidly growing omega-3 and astaxanthin dietary supplements markets.

About CMax Technologies

CMAX Technologies Inc. is a private Canadian drug delivery company with expertise in solid oral dosages. The Company was established in 2008 with an objective to provide prompt and reliable services to the Pharmaceutical sector worldwide and to improve product quality through technological innovations.

The company is capable of handling Formulation and Analytical Research of Solid Orals dosage forms (tablets, capsules etc.). CMAX's proprietary technologies are well established in developing once-a-day dosage form of drugs such as Quetiapine Fumarate, Metaprolol and Nifedipine.

The Company has a strong formulation and analytical expertise in sustained release delivery systems. The Company is equipped with a pilot galenic research and development facility located in Toronto, Canada.

Forward Looking Statements: BlueOcean

This news release may contain forward-looking statements that are based on BlueOcean's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

Neither the 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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Contact Information

  • BlueOcean NutraSciences Inc.
    Gavin Bogle

    BlueOcean NutraSciences Inc.
    Dil Vashi
    Manager Corporate Development