CEAPRO INC.
TSX VENTURE : CZO

CEAPRO INC.

November 14, 2005 08:30 ET

Ceapro Inc. announces $825,000 private placement offering

EDMONTON, Nov. 14 - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or the "Corporation")
today announced that it will undertake a non-brokered
private placement of up to 1,500 Units for aggregate gross proceeds of
$825,000.

Each Unit will consist of 100 common shares (each a "Common Share"),
100 Common Share purchase warrants (each a "Warrant") and 100 royalty
interests (each a "Royalty Interest"). Each Warrant will entitle the holder
thereof to acquire one additional Common Share at a price of $0.55 per Common
Share for a period of six months from the date of issue and thereafter at a
price of $0.75 per Common Share until that date which is 24 months from the
date of issue. Each Royalty Interest will entitle the holder thereof to a
royalty equal to 0.000025% of the net proceeds received by Ceapro from the
sale or license of its Active Ingredients, Animal Health Products and
CeaProve™ product, up to a maximum cumulative amount equal to $10.00 per
Royalty Interest.

Proceeds from this private placement will be utilized for the
commercialization of CeaProve™ and sales and marketing expenses. It is
anticipated the offering will close on or about December 15, 2005.

It is the intention of directors, management, or those closely associated
with these individuals plan to subscribe to approximately 30% of the maximum
offering.

About Ceapro Inc.

Ceapro Inc., an innovation-driven biotechnology company, develops and
commercializes organic products for medical, cosmetic, and animal health
industries using proprietary technology and natural, renewable resources.
Based in Edmonton, Alberta, Ceapro's shares trade on the TSX Venture Exchange
under the symbol CZO. Shares Issued: 36,757,485, recent close: $0.45 (November
9, 2005). To learn more about Ceapro, log on to our new website at
www.ceapro.com.

The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this news release.

This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the forward-
looking statements contained herein are reasonable, it can give no assurance
that the Company's expectations are correct. All forward-looking statements
are expressly qualified in their entirety by this cautionary statement.

Contact Information

  • Dr. Mark Redmond, President and CEO, Ceapro
    Inc., Telephone (Edmonton): (780) 421-4555