EDMONTON, Feb. 27, 2012 /CNW Telbec/ - Ceapro Inc. (TSXV: CZO) ("Ceapro" or the Company") is very pleased to announce the execution of an agreement with Alberta
Innovates Bio Solutions who has awarded the Company a $1.6 million
grant to establish a state of the art commercial scale bio processing
facility. It is expected that the new facility, which will represent an
investment of over $4.5 million, will be established in the Edmonton
area by the end of 2013.
""We wish to thank the Honourable Mr. Greg Weadick, Alberta's Minister of
Advanced Education and Technology and Dr. Stan Blade, Chief Executive
Officer of Alberta Innovates Bio Solutions for awarding our Company
this significant grant", said Gilles Gagnon, CEO of Ceapro. "As part
of the competition launched in 2011, we were one of three successful
projects out of 33 total applicants and are gratified that the quality
of Ceapro's proposal was viewed positively amongst the many proposals
submitted. We have a great reputation as an innovator with our global
multi-national customers and they appreciate that a unique bio
processing facility will allow Ceapro to provide product solutions
"From Field To Formulation". We anticipate Ceapro will return several
benefits to Alberta including job creation, new crop opportunities for
agricultural producers, increases in export sales, and most
importantly, highlight some very impressive Alberta innovation on the
world stage. With this clear commitment from the Government of Alberta
through Alberta Innovates Bio Solutions to support its biotechnology
industry, we will continue to work very hard to position Ceapro as one
of Alberta's flagship biotech companies.", added Mr. Gagnon.
For more information on Alberta Innovates Bio Solutions, please visit
their website at www.bio.albertainnovates.ca.
About Ceapro Inc.
Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary
business activities relate to the development and commercialization of
active ingredients for personal care and cosmetic industries using
proprietary technology and natural, renewable resources. To learn more
about Ceapro, visit www.ceapro.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Ceapro Inc.
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