VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - Functional Technologies Corp. (TSX VENTURE:FEB) (the "Company") is pleased to announce it has retained the services of San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital"), of Del Mar, California, to provide investor relations services, subject to regulatory approval. A leading investor and financial public relations firm specializing in small and micro-cap companies, Torrey Hills Capital has been engaged to increase awareness about Functional Technologies and its activities through Torrey Hills Capital's established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space. Torrey Hills Capital will also develop a profile on Functional Technologies for coverage on www.babybulls.com, a proprietary website developed to showcase and provide exposure for emerging micro-cap companies to an audience of proven micro-cap investors.
Mark Adams, Managing Director at Torrey Hills Capital, will be responsible for activities related to Functional Technologies. Mr. Adams possesses more than 15 years of both corporate and capital markets experience, including prior senior roles in investment banking at Bank of Montreal, corporate development at EMC Corporation, and investment analyses at Essex Investment Management, SAC Capital and BAM.
"We are excited to work together with Functional Technologies," commented Mr. Adams. "Torrey Hills Capital has cultivated a strong investor network across the U.S., to which it markets select companies based on specific criteria. With its exciting technology that is well positioned to take advantage of commercial opportunities in the food and beverage sector, Functional Technologies possesses many of the specific characteristics of a classically undervalued company, which we at Torrey Hills Capital seek. As a result, we believe that Functional Technologies will be of interest to the investment community."
Functional Technologies and Torrey Hills Capital have entered into a services agreement with a term of six months. However, the agreement may be terminated by either part at any time with seven days written notice. Under the terms of the services agreement, Torrey Hills Capital will receive a monthly fee of US$6,000 plus allowable expenses, which Functional Technologies intends to pay from general working capital. Torrey Hills Capital has also been granted options to purchase 100,000 common shares of the Company (the "Options") at a price of C$0.46 per common share for a period of three years from the date of grant. The Options shall be subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein and the policies of the TSX Venture Exchange.
Torrey Hills Capital, which is owned by founder and President Cliff Mastricola, currently has no direct or indirect interest in the securities of Functional Technologies, or any right or intent to acquire such an interest, except for the above referenced Options. The appointment of Torrey Hills Capital as an investor relations consultant of Functional technologies and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
About Functional Technologies Corp.
Functional Technologies develops and commercializes proprietary, advanced yeast-based solutions to significant challenges in the food, beverage and healthcare industries. The Company's platform improves the performance of innate yeast functions, and prevents the formation of naturally occurring toxins and contaminants that either affect final product quality or are classified by the World Health Organization as probable human carcinogens. Functional Technologies' lead technologies include yeasts that prevent and reduce the formation of the foul-smelling hydrogen sulphide (H2S) and the carcinogens acrylamide and ethyl carbamate (more commonly known as urethane), by-products of food and beverage processing. These contaminants are found in many commonly consumed items, such as fermented food products and alcoholic beverages, and baked and fried foods. With a head office in Vancouver, Functional Technologies Corp. has R&D operations in Prince Edward Island and Europe, as well as a U.S. sales office in Napa Valley, California. For more information, please visit our website at www.functionaltechcorp.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.