Solegear Bioplastic Technologies Inc.
TSX VENTURE : SGB

Solegear Bioplastic Technologies Inc.

June 10, 2015 08:30 ET

Solegear & Columbia Plastics to Develop Family of Sustainable Bioplastic Office Products

Strategic Partnership Poised to Make Plant-Based Office Products Available to Canadian Consumers

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 10, 2015) - Solegear Bioplastic Technologies Inc., (TSX VENTURE:SGB) in partnership with Columbia Plastics, a leading plastic injection molding company, is bringing a family of plant-based desk organization & accessory office products to the office products retailer segment in Canada through its relationship with TOPS Products Canada. Initial orders are estimated at up to 30 tons of material.

"We're very excited to be collaborating with Columbia Plastics and TOPS Products Canada to meet consumer expectations for more sustainable products and responsible production. TOPS Products Canada deserves a lot of credit for their commitment to modernizing this category to meet this rapidly growing demand by proactively seeking out new materials and working with forward-thinking producers, like Columbia Plastics," said Paul Antoniadis, CEO of Solegear.

Solegear's Polysole® LV bioplastic injection molding grade includes a suite of bioplastic resins that can be processed on conventional injection molding equipment. With plant-based content ranging from 65% to 100%, Polysole® LV is designed to replace petroleum-based Polypropylene, High Impact Polystyrene and ABS plastics while maintaining performance and the highest possible levels of annually renewable material.

Columbia Plastics, a strategic channel partner, has produced well over 12 million or 2,000 tons of high quality office products in the last 50 years and is tapping into the growing demand from consumers for plastics that will do less long-term harm to the environment. "There is strong consumer appetite for high quality office supplies that are more sustainable," said Brian Holmes, Vice President & General Manager of Columbia Plastics. "Columbia Plastics has been manufacturing for Tops Products of Canada for over 50 years and we are very excited to be converting these products to Solegear's Polysole LV bioplastic. Solegear's materials are designed as drop in solutions that we can process efficiently in our existing manufacturing equipment. This has made it easier and more cost effective for product manufacturers like Tops Products Canada to make the switch to Solegear's bioplastics." TOPS Products Canada office supplies & products are currently available at Canadian office retailers such as Staples, Staples Advantage, Basic Office Products, BuroPlus, Office Pro and Office Plus.

The first office products developed through Solegear and Columbia Plastics' strategic partnership are expected to be launched in late 2015.

About Solegear Bioplastics Inc.

Solegear, based in Vancouver, British Columbia, is an innovator in the field of next-generation plastics. The Company is an advanced materials firm that engineers, produces and distributes high-performance bioplastics (bioplastics are a category of plastics that are bio-based, compostable, or both) through a capital efficient business model. Founded in 2006, Solegear has developed, and is commercializing, proprietary bioplastics technologies that utilize annually renewable plant-based ingredients formulated using green chemistry, to address the growing North American market opportunity for rigid consumer packaging and durable plastic goods. www.solegear.ca

About Columbia Plastics Ltd.

Columbia Plastics, based in Surrey, British Columbia, is a custom injection molder that has been in business since 1945. The company provides high performance manufacturing solutions for a variety of industries and markets. Services provided in addition to molding include design, tooling, assembly, decorating, and packaging. All processes are ISO certified to either the 9001:2008 or 13485:2003 standards. www.columbiaplastics.com

About TOPS Products Canada

TOPS Products Canada, a division of RR Donnelly®, is a leading manufacturer of office supplies available through leading independent dealers, wholesalers, contract stationers, and retailers across North America. Its product range includes: filing and organization products, binders, note taking, index cards, forms and envelopes. www.tops-products.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.

On behalf of the Company:

Paul Antoniadis, CEO and Director

Disclaimer for Forward-Looking Information

This press release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the anticipated growth of the Company's business and commercialization of its products. Such statements and information reflect the current views of the Company. Risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Contact Information

  • Company Contact:
    Solegear Bioplastic Technologies Inc.
    Paul Antoniadis
    CEO and Director
    +1-604-998-4058
    paul@solegear.ca

    Investor & Media Contact:
    Kin Communication
    Fred Leigh
    1-866-684-6736
    SGB@kincommunication.com