CEAPRO INC.
TSX VENTURE : CZO

CEAPRO INC.

September 05, 2006 16:00 ET

Ceapro Inc. announces extension of the term of previously issued warrants

EDMONTON, Sept. 5 - 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")
announced today that it has made application to the TSX
Venture Exchange to extend the term (originally set to expire on September 30,
2006) of 682,667 warrants to March 31, 2007. The warrants were initially
issued on March 31, 2005 and entitled the holder thereof to acquire one
additional common share at an exercise price of $0.40 per share until
September 30, 2005 and thereafter at a price of $0.60 per share until
September 30, 2006. Should the TSX Venture Exchange grant the requested
relief, the $0.60 exercise price shall also apply for the period from
September 30, 2006 to March 31, 2007.

About Ceapro Inc.

Ceapro Inc is a Canadian growth stage biotechnology company. Ceapro's
core technology is the extraction of functional, active ingredients from
plants and other renewable resources. We add further value to our extracts by
manufacturing medical and therapeutic products, and by supporting the use of
our extracts in products for human and animal health. We have also introduced
health and wellness services employing our CeaProve® diagnostic technology.
Ceapro shares trade on the Canadian TSX Venture Exchange under the symbol CZO.
To learn more about Ceapro, visit our website at www.ceapro.com. Shares
Outstanding: 37,098,670, Recent Close: $0.28.

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