Bio-Extraction Inc.

Bio-Extraction Inc.

April 22, 2009 07:43 ET

Notice of 2008 Results Conference Call


TORONTO, ONTARIO--(Marketwire - April 22, 2009) - Bio-Extraction Inc. (TSX VENTURE:BXI) will release its fiscal 2008 financial results following the close of markets on April 28, 2009. Management will host a conference call on April 29 at 10:00 a.m. (Eastern Time) to review the financial results.

Live Conference Call:

Dial-in Numbers: 416-340-8061 / 866-225-2055

Instant Replay:

Dial-in Numbers: 416-695-5800 / 800-408-3053

Passcode: 2552482

Available Until: May 6, 2009 11:59 PM

The call will also be audio-cast live and archived for 90 days at

Saskatoon Plant Update

Ramp-up progress continues with ongoing increases in shipments and quantity and quality of both meal, and expeller grade non-GMO oil, in Phase 1 of the operation. This week the plant has moved from 24 hour operation on a 4 day per week basis to now operating on a 24 hour, 7 day week per week basis. As production volumes and quality continue to grow, the Company will move closer to its short-term goal of operating on a break-even or positive cash flow basis at the plant. These efforts are supported by continued strength in canola crush margins, at or near levels not seen since 2004. Equipment for the Phase 2 extraction process has begun to arrive on site and some of this equipment will be deployed in achieving the full quality and quantity goals for Phase 1 in the near term.

As the fabrication of the Phase 2 equipment has continued, two of the Company's vendors have brought forth recommendations to modify the solvent recovery equipment to allow for a two-step recovery process rather than the one-step design BioExx has used historically. After much debate, the Company has agreed that it would be prudent to pursue this course with the primary benefit being a further mitigation of scale-up risk for solvent recovery. There will also be a significant secondary benefit accruing from added efficiency in protein isolate production by eliminating a drying and re-wetting step that would otherwise occur in the protein process. Adoption of this plan will result in Phase 2 start-up moving to mid-third quarter, but the Company is hopeful that this will also offer a faster path to the start-up of Phase 3 protein production.

"We continue to be very pleased with the tremendous effort of our entire Saskatoon production and engineering teams and the ongoing success that they are having. It is through these efforts that we are able to manage design improvements such as this without any lasting impact to the schedule and to help us further improve the economics of our core value proposition, protein production." said BioExx CEO, Chris Carl.

About Bio-Extraction Inc.

Headquartered in Toronto, Canada, BioExx is a leading technology company focused on the extraction of oil and high-value proteins from oilseeds for the global food market. BioExx' patented technology allows for the use of significantly lower temperatures than conventional methods in extracting the active ingredients and oils from oilseeds, resulting in higher yields and higher-quality meal, oils and proteins. BioExx' low energy requirements, environmentally sound process, and high-yield production have the potential to make a valuable contribution in alleviating food scarcity. BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, and has a mission to construct additional and larger processing facilities on a global basis. To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please visit

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, the demand for BioExx' products, the availability of funding, and the anticipated costs of BioExx' plant construction and operation. These forward-looking statements are made as of the date hereof and BioExx does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from BioExx' expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

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