BlueOcean NutraSciences Inc.

BlueOcean NutraSciences Inc.

November 25, 2014 14:30 ET

BlueOcean Signs an Exclusive Long Term Processing Agreement

TORONTO, ONTARIO--(Marketwired - Nov. 25, 2014) - BlueOcean NutraSciences Inc. ("BlueOcean") (TSX VENTURE:BOC) announces the signing of an Exclusive Long Term Processing Agreement ("Agreement") with a major international dietary supplement processor and manufacturer for the extraction of phospholipid based marine oils from shrimp and krill feedstock. The minimum three year agreement establishes a long-term exclusive relationship between the parties. The Agreement includes the extraction of AstaShrimp™ shrimp oil for BlueOcean's joint venture company 70717 Newfoundland and Labrador Inc. This extracted shrimp oil is sourced from North Atlantic shrimp feedstock that will be sold into global nutraceutical markets.

BlueOcean CEO, Gavin Bogle said, "Our new partner has extensive experience in the extraction of high value nutraceutical products from a variety of feedstock. Their large capacity extraction facilities can process economically all of our existing shrimp feedstock permanently assigned to our 70717 joint venture company. Our long term agreement also extends to extracting omega3 oils from other feedstock such as our future algae production and from other marine sources, giving BlueOcean further value creation potential."

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 Omega 3 and Omega-3 Algal oil health and wellness markets.

BlueOcean is developing two specialty oil products: AstaShrimp™ and AlgaOmega™. 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™, and BlueOcean wholly owns its AlgaOmega™ product line.

The natural oils to be used in AstaShrimp™ contains very high levels of naturally occurring astaxanthin, phospholipids, and omega-3 EPA and DHA. AstaShrimp™ will be 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 oil containing high levels of EPA with DHA and is targeted at the rapidly growing omega-3 algal oil ingredient market that is currently valued at $500M and growing at 14% CAGR.

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.

Contact Information

  • BlueOcean NutraSciences Inc.
    Gavin Bogle

    BlueOcean NutraSciences Inc.
    Dil Vashi
    Manager Corporate Development