Bio-Extraction Inc.
TSX VENTURE : BXI

Bio-Extraction Inc.

May 06, 2009 09:23 ET

Private Placement Amount Increased

TORONTO, ONTARIO--(Marketwire - May 6, 2009) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx") announced today that it has agreed to increase the Agents' Option in connection with its recently announced private placement offering. The nature and sources of demand on the offering were such that, in the opinion of BioExx, the allocations could not have been appropriately satisfied without a slight increase in the offering size.

BioExx previously announced that it intended to issue up to 5,800,000 common shares at a price of $0.52 per share. In addition, the agents for the offering, being Canaccord Capital Corporation, Frazer Mackenzie Limited, Loewen Ondaatje McCutcheon Limited and Wellington West Capital Markets Inc. had the option to increase the number of common shares sold pursuant to the offering by up to 4,000,000 common shares at $0.52 per common share. This option has now been increased to 4,400,000 common shares at $0.52 per common share.

All other terms of the offering as previously disclosed remain the same. Closing of the private placement remains scheduled for May 12, 2009, subject to the approval of the TSX Venture Exchange and other customary conditions. All common shares issued pursuant to the offering will be subject to a four month statutory hold period.

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 www.bioexx.com.

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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