First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

January 29, 2008 11:39 ET

First Venture Retains Ascenta Capital Partners Inc. for Investor Relations Services

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - First Venture Technologies (TSX VENTURE:FEB) is pleased to announce it has retained Ascenta Capital Partners Inc., of Vancouver, British Columbia, to provide investor relations services.

Ascenta is a leading provider of investor relations services to public companies in Canada. Since 2000, Ascenta has been assisting public companies with investor relations and corporate communications. Its team has worked for companies ranging from micro and midcap resource and technology companies to Fortune 500 multinationals.

"First Venture looks forward to working with the Ascenta team to develop and execute a disciplined, widespread and effective investor relations program," said Geoff Lee, President of First Venture Technologies.

Ascenta will receive a monthly retainer of $6,500 for a 12-month term, subject to termination by either party with 30 days written notice. This fee will be paid from general working capital. First Venture will also issue, as compensation to Ascenta, an option to purchase 150,000 common shares pursuant to the company's stock option plan. The options are exercisable at a price of C$1.20 per share. The options will vest in accordance with TSX Venture Exchange guidelines and are subject to a four-month hold period from the date they are granted.

Ascenta is at arm's length to First Venture, and is owned by Marshall Farris, Jason Cubitt, Mark Hunter and Jim Glass.

ON BEHALF OF THE BOARD

Geoff Lee, President & CFO

About First Venture Technologies

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 health care industries. The company is currently commercializing a platform yeast technology that substantially reduces the formation of ethyl carbamate (or urethane), a known carcinogen (classified by the World Health Organization's IARC 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.

About Ascenta Capital Partners Inc.

Ascenta is a leading provider of investor relations services to public companies in Canada. Ascenta's strength is its disciplined approach to the development and execution of strategic, customized investor relations programs and services.

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

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