FreshXtend Technologies Corp.

FreshXtend Technologies Corp.

March 16, 2005 12:57 ET

FreshXtend Technologies Announces Receipt of Funds


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FRESHXTEND TECHNOLOGIES CORP.

TSX VENTURE SYMBOL: FXT

MARCH 16, 2005 - 12:57 ET

FreshXtend Technologies Announces Receipt of Funds

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 16, 2005) - FreshXtend
Technologies Corp. (TSX VENTURE:FXT) is pleased to announce that it has
received the majority of the funds from its placement of 6,000,000
shares at $0.15 previously announced in a news release on December 30,
2004. The Company anticipates that the offering will increase to a total
of 6,201,054 shares at a price of $.15 for total proceeds of
$930,158.00. A commission of up to 4% plus expenses may be payable.

The Company expects to complete this placement in the very near future
and will confirm its completion in a future news release. It remains
subject to acceptance for filing by the TSX Venture Exchange.

FreshXtend Technologies Corp. (FXT) is a leading provider of life
extension technology to the high growth Fresh Produce and Flower
Industry and uses its technological leadership to pursue licensing
opportunities. The Company's patented technologies naturally place
produce in a state of hibernation while it is being shipped, and extends
the shelf life of fresh produce, flowers and juices, thereby enabling
economic distribution of premium quality vine-ripened fruit and
vegetables. The Company has a network of R&D relationships, which
include the University of British Columbia and focuses on building
features that will appeal to FreshXtend's customers in order to gain a
competitive edge in the marketplace. The Company continues to pursue
licensing opportunities through grower/processor channels as a way of
maximizing the distribution for its technologies.

Trading symbol: FXT (TSX-V)

Manual Listing S & P's Industrial & Int'l, 12g (3)b Exemption: #82-2190

The statements in this news release may contain certain forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Exchange Act of 1934 and are subject to the
safe harbour created by these sections. Actual results may differ
materially from the Company's expectations.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    FreshXtend Technologies Corp.
    R.W. Robinson
    Director
    (604) 322-0759
    (604) 322-0487 (FAX)
    or
    FreshXtend Technologies Corp.
    Perry Lidster, Ph.D.
    President
    (604) 322-0759
    (604) 322-0487 (FAX)
    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this news release.