First Venture Technologies Corp.

First Venture Technologies Corp.

November 04, 2005 07:30 ET

First Venture Raises $1,993,000 from Warrant Exercises

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 4, 2005) - First Venture Technologies Corp. (TSX VENTURE:FEB) is pleased to report that it has received a total of $1,993,000 from the exercise of share purchase warrants and broker warrants issued in a financing conducted in 2003. This reflects a rate of exercise of over 99 percent. The warrants expired on November 2, 2005.

"The company appreciates the continuing support and confidence demonstrated by its investors," stated president and chief executive officer Howard Louie. "With the successful completion of the warrant exercise, the company is well positioned to enter into the next stage of development and expansion of its product line and the first stages of commercial roll-out."


Geoff Lee, Executive Director & CFO

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 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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