Calyx Bio-Ventures Inc.
TSX VENTURE : CYX

Calyx Bio-Ventures Inc.

April 14, 2015 16:43 ET

Calyx Divests Investment in Agrisoma

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 14, 2015) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or "the Company") is pleased to announce that Agrisoma Biosciences Inc. ("Agrisoma") has repurchased from Calyx all of the shares of Agrisoma which were owned by Calyx for C$300,236.50 (the "Transaction"). Calyx's investment in Agrisoma had represented approximately 22.82% of the total number of Agrisoma shares outstanding. The consideration was paid in full upon closing.

As of the end of the 2013, Calyx had written down the carrying value of its investment Agrisoma to $Nil to reflect the uncertainty with respect to its investment in Agrisoma.

In early 2014, following an evaluation by an Independent Committee of Calyx's board of directors, it was determined that Calyx should waive its pre-emptive rights with respect to financing Agrisoma, and in July 2014, Agrisoma commenced a Series A financing of C$8.0 million dollars led by Cycle Capital Management with participation from BDC Venture Capital (the "Series A Financing"). The full completion of the Series A Financing resulted in Calyx's interest in Agrisoma being reduced from approximately 49.9% to approximately 22.82%. If Calyx were to have retained ownership of its shares of Agrisoma and Agrisoma required additional financing in the future, further dilution of Calyx's position would have been expected to occur.

Based upon a review of Calyx's position in Agrisoma, and consultation with legal and financial advisors, the Board determined that the Transaction was in the best interests of the Company.

The Transaction closed on April 14, 2015, and all requisite approvals required to effect closing have been obtained, including final 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.

For further information about Calyx, please visit www.calyxbio.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Don Konantz, Director, President and Chief Executive Officer

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. 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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