First Venture Technologies Corp.

First Venture Technologies Corp.

March 10, 2008 09:00 ET

First Venture Adds Key Advisory Board Member

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) - First Venture Technologies Corp. (TSX VENTURE:FEB) is pleased to report the appointment of Mr. Johann Tergesen to the company's Advisory Board.

Mr. Tergesen is currently president and chief operating officer of Burcon NutraScience Corporation. Burcon NutraScience is a research and development company building a portfolio of composition, application and process patents related to its plant protein extraction and purification technology. Burcon, in conjunction with Archer Daniels Midland, is currently focusing its efforts on developing the world's first commercial Canola proteins, Puratein® and Supertein™. Mr. Tergesen is one of the founding shareholders of Burcon NutraScience, and its predecessor Burcon Capital Corp. Prior to his role as president and C.O.O. of Burcon NutraScience, Mr. Tergesen was vice president and treasurer of Burcon Properties Limited, a real estate development and ownership company with assets in excess of $3.0 billion. Mr. Tergesen has been with the Burcon group of companies since December of 1995. Prior to that, he was a manager in the corporate finance group of the Vancouver office of Coopers & Lybrand, Chartered Accountants. Mr. Tergesen holds a B.A. in economics from the University of Winnipeg and an M.B.A. from McGill University, and is a member of the Canadian Institute of Chartered Accountants.

"Mr. Tergesen has successfully developed a world-class functional foods and nutrascience company that in many ways parallels the development path of First Venture to date - whether as a publicly-listed company, developing and commercializing proprietary technology with compelling consumer health product applications, and/or nurturing relationships with or competing with global multinational food industry players," said Howard Louie, CEO of First Venture. "His participation on our advisory board will be all the more valuable as he brings his experience and success to bear on First Venture's business and commercialization mandate for its proprietary yeasts and next generation biological health products."

"I am pleased to be asked to work with First Venture at this pivotal point in the company's development. It is exciting to be able to participate in the commercialization of a technology that improves the safety and health profile of an important global food ingredient," stated Mr. Tergesen. "My experience with Burcon to develop a major new source of novel proteins for the food industry is an excellent fit for assisting First Venture to bring their novel yeasts to market."

About First Venture Technologies Corp.

First Venture Technologies is a functional foods and biological health products company that develops and commercializes advanced yeast products, and other novel biological products, for the food and the health care industries. The company is currently commercializing a platform yeast technology that substantially reduces the formation of ethyl carbamate (also known as urethane, it is classified by the World Health Organization as a Group 2A carcinogen - probably carcinogenic to humans), from wines and other fermented beverages and foods. First Venture has licensed the exclusive worldwide rights to this technology from The University of British Columbia (UBC). The company is expanding the development of next generation products in this area, as well as evaluating new yeast based technologies with broad commercial market applications. In addition First Venture, through its wholly-owned subsidiary Phycobiologics Inc., is developing a platform of proprietary biological products for the animal and aquaculture health care markets utilizing proprietary science in the field of micro-algae.


Geoff Lee, President

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

Contact Information