Calyx Bio-Ventures Inc.

Calyx Bio-Ventures Inc.

June 17, 2015 08:00 ET

Calyx Announces Results of Annual and Special Meeting and Management Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2015) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce that all of the nominees proposed as directors and listed in its management proxy circular dated May 14, 2015 were elected as directors at its Annual and Special Meeting (the "Meeting") of shareholders held in Vancouver, British Columbia on June 12, 2015, with more than 99% of shares voted cast in favour of each nominee. Additionally, all shareholder resolutions proposed at the Meeting were carried with at least 98.9% of all votes cast in favour of each proposed shareholder resolution.

The Company is also pleased to announce the appointment of Roger Forde as President & CEO of Calyx, effective immediately. Mr. Forde was elected to the board of directors at the Meeting, and is also the founder of the Company's wholly-owned subsidiary, Cannigistics Agri-Solutions Corp. ("Cannigistics"). Mr. Forde has worked in the computer and telecom industries for more than 30 years. Over that time, he has worked on ground-up technology projects for significant enterprises, responsible for overall design, project scoping, execution, implementation, and post-deployment review and improvement processes.

The Company also announces the appointment of Gavin McMillan as CFO of Calyx, effective immediately. Mr. McMillan was also elected to the board of directors at the Meeting. Mr. McMillan has over twenty years of business experience, including in the roles of President & CEO and as a director of publicly listed companies. In addition to his experience in executive positions for reporting issuers, he has been directly responsible for managing and growing multi-million dollar lines of business, overseeing measurement, reporting, and financing. Mr. McMillan also has a background in computer science and has helped forge relationships with some of the world's largest technology companies.

"I am very pleased to take over in the capacity of President & CEO of Calyx," commented Mr. Forde. "The technologies being developed and deployed by the Company through Cannigistics can translate into significant value for shareholders and I look forward to leading that process."

Mr. McMillan commented, "This is an exciting time for the Company and for Cannigistics, as it begins to commercialize product. I look forward to contributing to the Company's growth going forward."

The Company further announces that it has entered into agreements with former directors, officers and consultants of the Company to cancel an aggregate of 1,885,000 previously granted incentive stock options, effective immediately. The Company has also granted an aggregate of 2,650,000 incentive stock options to current directors, officers, and consultants of the Company. All options granted are exercisable at a price of $0.05, have a life of five years, and vested immediately upon grant. The option grant is subject to the approval of the TSX Venture Exchange.

About Calyx

Calyx's wholly-owned subsidiary, Cannigistics Agri-Solutions Corp, is a software development company that has created a software platform tailored to advanced indoor agriculture. The Cannigistics software platform is designed to enhance the efficiency and effectiveness of indoor agricultural operations, and positions Cannigistics to be the industry leader in agri-software solutions by providing businesses with advanced controls over all aspects of their operations. Additionally, Calyx owns a portfolio of proprietary intellectual property with applications in crop enhancement.

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Roger Forde, Director, President and Chief Executive Officer

Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx and/or its subsidiaries, 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. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.

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.

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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