April 30, 2007 15:20 ET

eResearch Raises Target Price to $2.50 From $1.30 for First Venture Technologies Corp.

TORONTO, ONTARIO--(CCNMatthews - April 30, 2007) - eResearch analysts, Nigel Heath, BBM, CFA and Bob Weir, B.Sc., B.Comm., CFA, have written an Update Report on First Venture Technologies Corp. (TSX VENTURE:FEB), and have raised the Target Price. First Venture Technologies is a food science company that is developing new strains of yeast for beverages (eg., wine; sherry) and food (eg., bread; baked goods) that reduce the presence of a known carcinogen, ethyl carbamate.

Since the Initiating Report of February 1, 2007, the Company has announced commercial trials with wineries in both South America and Canada. Also, the World Health Organization's International Agency for Research on Cancer (IARC) recently reclassified ethyl carbamate as a Group 2A carcinogen ("probably carcinogenic to humans") from a Group 2B carcinogen ("possibly carcinogenic to humans").

In the Update Report, the Analysts state: "eResearch believes that, in the next 12 months, the market will attribute significantly greater value to First Venture's proprietary yeast technology, as First Venture provides a solution to a problem that is in the early and increasing stages of market awareness."

The Analysts go on to say: "Using a discount rate of 25% and a 3.5 times cash flow multiple, we derives an intrinsic value for First Venture shares of $2.52."

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network.

First Venture Technologies Corp. paid eResearch a fee of C$17,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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