VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) ("Calyx" or the "Company") is pleased to announce that Derek Penner has joined the Company's board of directors effective January 22, 2014. Mr. Penner brings extensive global agriculture commercialization, potential partnership relationships and executive leadership experience to Calyx, having previously served as President of Monsanto Canada.
Derek Penner is a world-class executive with national and international experience in agriculture. He is a highly motivated professional who has successfully led many functions within a leading global agricultural biotechnology corporation and a rapidly expanding entrepreneurial organization. As president of Monsanto Canada Mr. Penner grew sales and profits by 30%, significantly contributing to overall corporate wide profitability, revenue and cash flow growth. Mr. Penner developed and rolled out a vision and strategy for Monsanto Canada along with a restructuring plan to guide the business into new jurisdictions. Prior to his role as president, Mr. Penner held positions of chief financial officer of Monsanto Canada and Director of Product Management, Strategy and Licensing for Monsanto International. During his time with Monsanto, he was engaged in and led a variety of business and strategic initiatives in Europe, Middle East, Africa and Canada including: restructuring Monsanto's business model which included decentralization of product management and marketing functions; divesture of product lines and production facilities; acquisitions; and the development of market strategies for new markets in Eastern Europe and East Africa.
"It is with great excitement that I join as a member of Calyx Bio-Venture's Board of Directors. The development of the proprietary crop "Carinata" is an innovation in agriculture research that will benefit farmers and the agricultural industry while bringing an alternative fuel to market that will reduce carbon emissions. It is not often there is an industry game changer that can benefit all along the value chain from the grower to the end user of the biofuel. Calyx is a company that realizes the importance of reaching new heights and I look forward to being part of the team that brings a green and sustainable fuel to the world" commented Derek.
"We are delighted to have Derek join the Calyx board. Having previously served as President of Monsanto Canada Derek gained unparalleled agriculture and biotechnology experience. He is an effective leader who has monetized opportunities and executed efficiently. His experience is vital in the commercialization of Carinata in Western Canada and the northern United States" commented Don Konantz, chief executive officer of Calyx."
Additionally, the company announces the resignation of Richard Whittall from the board of directors. The Board thanks Richard for his ongoing contributions.
Calyx Bio-Ventures Inc. (TSX VENTURE:CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Calyx is the largest shareholder of Agrisoma Biosciences Inc., a company which is producing a new proprietary non-food energy feedstock crop - carinata - which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. Carinata was used to fly the world's first 100% biojet flight, as achievement that Popular Science called one of the top science events on the planet in 2012. For further information about Calyx, please visit www.calyxbio.com. For more information on Agrisoma, please visit www.agrisoma.com.
Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control.
Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
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