TerraBioGen Technologies Inc.

TerraBioGen Technologies Inc.

December 19, 2012 12:00 ET

TerraBioGen Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) - TerraBioGen Technologies Inc., a developer of proprietary technologies for the production of organic-based, high-value agricultural products, is pleased to provide this corporate update on its activities.

The agricultural and horticultural industries are in a stage of transition. Previously, the focus was on nutrition and the microsphere; more recently, this has evolved into the use of agriculturally bioactive compounds. In the past year, there have been a number of corporate acquisitions which underline this trend.

TerraBioGen is actively working on the development and formulation of these compounds. While identification of the bioactive compounds is key, equally important is the formulation and delivery of the materials to the target tissues; it is critical to deliver the right amount of active ingredient to the right tissues at the right time. The Company's growing trials over the next 18 months will focus on these issues.

Operations at the North Vancouver facility, where the Company has operated since inception, ceased in October and the plant is currently being dismantled in preparation for the Company's departure in the spring. TerraBioGen is in the process of a negotiating for a new location which will operate primarily as a head office, research and development, and a growth trial facility. At this site, the Company will build a pilot fermentation and bioactive material processing facility. Fermentation production can be done with a much smaller footprint and the end product can be produced with more consistency than digestion.

TerraBioGen is working with a leading agricultural patent counsel to develop the Company's patent strategy.

In order to finance this development and growing trial program, the Company has negotiated and closed a private placement of 90,000 units at $10.00 per unit for proceeds of $900,000. Each unit consists of one common share and one warrant exercisable at $12.00 for 5 years.

About TerraBioGen

Located in North Vancouver, BC, TerraBioGen Technologies Inc. is committed to research and development to continue to improve the efficiency of its technology and the quality of its agricultural products. It is further committed to developing a world-wide marketing capability to ensure market acceptance of its products.

This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although TerraBioGen believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of TerraBioGen's management on the date the statements are made. Except as required by law, TerraBioGen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Contact Information

  • TerraBioGen Technologies Inc.
    Blair Heffelfinger
    President & CEO
    (604) 924-1023 ext 316
    (604) 924-1043 (FAX)
    bheffelfinger@terrabiogen.com

    TerraBioGen Technologies Inc.
    Bob Nowell
    CFO & Corporate Secretary
    (604) 924-1023 ext 306
    (604) 924-1043 (FAX)
    bnowell@terrabiogen.com