First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

December 08, 2006 09:00 ET

First Venture to Conduct Pre-Feasibility Study for Commercial Yeast Manufacturing Facility

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 8, 2006) - First Venture Technologies Corp. (TSX VENTURE:FEB) announced today that it has entered into an agreement with Canbiotech Consultants Inc., of Selkirk, Ontario, to conduct a pre-feasibility study for the establishment of a commercial active dry-yeast manufacturing facility in Canada.

The study will take about five months to complete and will produce a preliminary design for a cost-effective commercial manufacturing facility for the production and processing of the company's proprietary yeast in active dry form. The study will also incorporate a comprehensive analysis of the best prospective geographical locations for the manufacturing operations. The facility is to be fully compliant with Canadian regulatory guidelines that address the yeast manufacturing industry.

"We are pleased to be entering into this important stage of corporate development," said Howard Louie, President and CEO. "The ability to secure a long term commercial supply of multiple strains of our proprietary yeast is an important component of our next stage of growth. This is an integral part of our commercial strategy and is along the critical path to commercialization of our proprietary yeast strains that have been shown, in over one hundred lab fermentation trials, to be highly efficacious in reducing the presence of a known carcinogen from fermented foods and beverages."

ON BEHALF OF THE BOARD

Geoff Lee, Director Regional Development

ABOUT FIRST VENTURE TECHNOLOGIES

First Venture is a biotechnology company that develops and commercializes advanced yeast products.

The company is currently commercializing a platform yeast technology that substantially reduces the formation of a known carcinogen, ethyl carbamate (or urethane) from food products and alcoholic beverages. The company has licensed the exclusive worldwide rights to the technology from The University of British Columbia (UBC), and is developing the technology in partnership with UBC's world-renowned Wine Research Centre.


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

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