BXI Bioexx Specialty Proteins Ltd Com Npv

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Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx") is pleased to announce that it
has closed its previously announced private placement (the "Offering"), sold by
a syndicate of agents led by Canaccord Capital Corporation and including and
Fraser Mackenzie Limited, Loewen Ondaatje McCutcheon Limited, and Wellington
West Capital Markets Inc.


Including the exercise of the increased Agent's Option as previously announced,
the Offering consisted of 10,200,000 common shares at $0.52 per share for gross
proceeds of $5,304,000. The common shares sold pursuant to the Offering will be
subject to a four month statutory hold period.


Plant Update

The Saskatoon plant is now generating regular sales through the shipping of
truckload quantities of 100% of its production. Quality of the products has
steadily increased since start-up, with meal quality now meeting or exceeding
market specs, and oil expected to soon meet or exceed premium specs. The plant
is now fully staffed with 19 employees and has operated steadily on a 7/24 basis
since April 20th. Management expects that certain Phase 2 components which are
scheduled to be installed in the coming weeks should further increase volumes
and unit prices, thus moving the Company closer to operating breakeven at the
plant. Crush Margins remain healthy with futures markets pointing to continued
strength. In the interim, engineering and procurement work continues at a strong
pace towards Phase 2 Extraction start-up in mid-Q3, followed closely by Phase 3
Proteins.


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.

Grafico Azioni Bioexx Specialty Proteins Ltd Com Npv (TSXV:BXI)
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Da Mag 2024 a Giu 2024

Grafico Azioni Bioexx Specialty Proteins Ltd Com Npv (TSXV:BXI)
Storico
Da Giu 2023 a Giu 2024