Calyx Bio-Ventures Inc.

TSX VENTURE : CYX


Calyx Bio-Ventures Inc.

March 31, 2014 07:00 ET

Calyx Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 31, 2014) -

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") announce a proposed non-brokered private placement of up to 35,000,000 units at a price of $0.06 per unit (each a "Unit") for cash proceeds of up to $2,100,000 (the "Private Placement"). Each Unit comprises one common share and one common share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.09 for a period of twenty four months from the closing of the Private Placement, subject to certain acceleration provisions in the event that the shares of the company trade at 15 cents or higher for 10 consecutive trading days. The Company expects that it will pay an 8% cash finders' fee and finders' warrants equal to 8% of the Units placed, and having the same terms as the Warrants, on all or a portion of the Private Placement.

The funds raised from the issuance of the Units will be for general working capital and potential further investment into Agrisoma or other businesses in the tech, agriculture and biotech sectors including the MMPR (Marijuana for Medical Purposes Regulations) and the agri-pharmaceutical space.

Further to the updates issued on March 24 and 26, 2014, Calyx continues to consider financing solutions for Agrisoma that work for all of Agrisoma's stakeholders.

About Calyx

Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is an agricultural technology company currently focused on renewable fuels including biojet and biodiesel. Calyx is a shareholder of Agrisoma Biosciences Inc., a company which is producing a new proprietary non-food energy feedstock crop - carinata - which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. Carinata was used to fly the world's first 100% biojet flight, as achievement that Popular Science called one of the top science events on the planet in 2012. For further information about Calyx, please visit www.calyxbio.com. For more information on Agrisoma, please visit www.agrisoma.com.

Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control, including the completion of the Private Placement and the delay or failure to receive regulatory approvals.,

Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, timing and completion of the Private Placement, the actual use of proceeds, and the timing of receipt of regulatory approvals.

Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.

The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the United States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

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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