/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES/
VANCOUVER,
Nov. 16, 2012 /CNW/ - Burcon
NutraScience Corporation (TSX - BU; NASDAQ - BUR) ("Burcon" or
the "Corporation") is pleased to announce that, further to its
press release dated November 7, 2012,
it has entered into an agency agreement (the "Agency
Agreement") with NCP Northland Capital Partners Inc. as lead agent
and Raymond James Ltd. (together the "Agents"). Under the
terms of the Agency Agreement, the Agents will offer
(the "Offering"), on a best efforts basis, up to 1,437,500
common shares at a price of $4.00 per
common share (the "Issue Price") for gross proceeds of up to
$5,750,000. The size of the Offering
has increased by $750,000 from
$5,000,000 as previously announced by
the Corporation on November 7,
2012.
The Corporation anticipates filing a final short
form prospectus (the "Final Prospectus") today with the securities
regulatory authorities in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New
Brunswick and Nova Scotia
in connection with the Offering. The Offering is expected to
close on or about November 23,
2012.
ITC Corporation Limited, Burcon's largest
shareholder, has advised the Corporation that it will subscribe for
300,000 common shares in the Offering.
Closing is subject to certain conditions,
including, but not limited to, the receipt of all necessary
approvals including the approval of the applicable securities
regulatory authorities and the TSX.
The net proceeds of the Offering will be used
for continued commercialization of Burcon's uniquely soluble and
clean-tasting Peazazz™ pea protein, CLARISOY™ soy protein and for
general working capital purposes, all as more particularly set out
in the Final Prospectus.
This press release is not an offer to sell or
the solicitation of an offer to buy the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to qualification or registration under the
securities laws of such jurisdiction. The securities being offered
have not been, nor will they be, registered under the United States
Securities Act of 1933, as amended, and such securities may not be
offered or sold within the United
States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from U.S.
registration requirements.
About Burcon NutraScience
Burcon is a leader in nutrition, health and wellness in the field
of functional, renewable plant proteins. Since 1999, Burcon has
developed a portfolio of composition, application, and process
patents originating from our core protein extraction and
purification technology. We have developed CLARISOY™ soy
protein, which offers clarity and complete protein nutrition for
low pH beverage systems; Peazazz™ a uniquely soluble and
clean-tasting pea protein and Puratein®, Supertein™ and Nutratein™
canola protein isolates with unique functional and nutritional
attributes. Our team of highly specialized scientists and
engineers work from our private research facility to develop and
optimize environmentally sound technologies. To date, our patent
portfolio consists of 212 issued patents in various countries,
including 35 issued U.S. patents, and in excess of 400 additional
pending patent applications, 77 of which are U.S. patent
applications.
CLARISOY™ is under license from Archer Daniels
Midland Company.
CLARISOY™ is a trademark of Archer Daniels Midland Company.
ON BEHALF OF THE BOARD OF DIRECTORS
"Johann F. Tergesen"
Johann F. Tergesen
President and Chief Operating Officer
The TSX has not reviewed and does not accept
responsibility for the adequacy of the content of the information
contained herein. This press release contains forward-looking
statements or forward-looking information. Forward-looking
statements or forward-looking information involve risks,
uncertainties and other factors that could cause actual results,
performances, prospects and opportunities to differ materially from
those expressed or implied by such forward-looking statements. All
statements other than statements of historical fact included in
this release are forward-looking statements, including, without
limitation, statements regarding the timing and use of proceeds of
the Offering and the completion of the Offering. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements or information. Important factors
that could cause actual results to differ materially from Burcon's
plans and expectations include the actual results of marketing
activities, adverse general economic, market or business
conditions, regulatory changes and other risks and factors detailed
herein and from time to time in the filings made by Burcon with
securities regulators and stock exchanges, including in the section
entitled "Risk Factors" in Burcon's annual information form dated
June 25, 2012. Any
forward-looking statement or information only speaks as of the date
on which it was made and, except as may be required by applicable
securities laws, Burcon disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or otherwise. Although Burcon believes
that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such.
SOURCE Burcon NutraScience Corporation