Burcon raises $16.9 million - Lists on TSX



    
    /NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR
    DISSEMINATION TO U.S. NEWS WIRE SERVICES/
    

    VANCOUVER, June 18 /CNW/ - Burcon NutraScience Corporation (TSX -BU)
("Burcon" or the "Corporation") is pleased to announce that it has completed
its previously announced financing led by Paradigm Capital Inc., and including
BMO Capital Markets and Haywood Securities Inc. (collectively, the "Agents").
The Corporation issued an aggregate of 2,942,950 common shares (including
333,950 common shares pursuant to the partial exercise of the Agents'
over-allotment option) at a price of $5.75 per share for gross proceeds of
approximately $16.9 million (the "Offering"). In addition, Burcon's common
shares will now be listed on the Toronto Stock Exchange (the "TSX").
    The net proceeds of the Offering will be used for continued research and
development of Burcon's soy protein isolate extraction and purification
technology (CLARISOY(TM)), further refining of Burcon's canola protein isolate
extraction and purification technology (Puratein(R) and Supertein(TM)), filing
new patent applications and expanding Burcon's intellectual property
portfolio, and for general working capital purposes, all as more particularly
set out in Burcon's final prospectus dated June 10, 2009.
    "We are pleased with the strong response from our new institutional
shareholders, particularly at a time when access to capital remains difficult.
The completion of this financing serves as a validation of the potential of
our products and technologies," said Johann F. Tergesen, President and Chief
Operating Officer, adding, "This financing greatly strengthens Burcon's
balance sheet, providing important flexibility to entertain a broad range of
potential strategic alliances arising from our recently announced soy protein
isolate technology and CLARISOY(TM)."
    The Agents received a commission equal to 6% of the gross proceeds of the
Offering and compensation options entitling the Agents to purchase up to
117,718 common shares (equal to 4% of the common shares sold pursuant to the
Offering). Each compensation option is exercisable to acquire one common share
of the Corporation at an exercise price of $5.75 per share at any time before
and including December 18, 2010.
    On June 1, 2009, the TSX conditionally approved the Corporation's
application for listing its common shares on the TSX. Listing of the
Corporation's common shares was subject to fulfilling all of the listing
requirements of the TSX by August 28, 2009, including raising gross proceeds
of $10 million. With the closing of today's financing those requirements have
now been met. The common shares of the Corporation have now been listed and
posted for trading on the TSX under the symbol "BU".

    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 are developing the
world's first commercial canola proteins, Puratein(R) and Supertein(TM) with
unique functional and nutritional attributes, and Clarisoy(TM), a
revolutionary soy protein isolate which is 100% soluble and completely
transparent in acidic solutions. Our team of highly specialized scientists and
engineers work from our own research facility to develop and optimize
environmentally sound technologies. To-date, our patent portfolio consists of
84 issued patents in various countries, including 8 issued U.S. patents, and
well in excess of 200 additional pending patent applications, 55 of which are
U.S. patent applications.

    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.

    
    ON BEHALF OF THE BOARD OF DIRECTORS
    "Johann F. Tergesen"
    Johann F. Tergesen
    President and Chief Operating Officer

    Neither the 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.
    

    This press release contains forward-looking statements that involve risks
and uncertainties. These forward-looking statements relate to, among other
things, the Corporation's proposed offering and use of proceeds, the proposed
listing of the Corporation's common shares on the TSX, plans and timing for
the introduction or enhancement of our products, statements about future
market conditions, supply and demand conditions, and other expectations,
intentions and plans contained in this press release that are not historical
fact. Our expectations regarding the prospect for future success depend upon
our ability to develop and sell products, which we do not produce today and
cannot be sold without further research and development. When used in this
press release, the words "goal", "intend", "believes", "potential",
"expected", "anticipates", "will be", "TSX listing" and "completion of the
offering" and similar expressions, generally identify forward-looking
statements. These statements reflect our current expectations. They are
subject to a number of risks and uncertainties. In light of the many risks and
uncertainties surrounding the development of a source of protein from canola
meal, you should understand that we cannot assure you that the forward looking
statements contained in this press release will be realized.





For further information:

For further information: Jade Cheng, Chief Financial Officer, Burcon
NutraScience Corporation, (604) 733-0896, (888) 408-7960 toll-free,
jcheng@burcon.ca, www.burcon.ca; AXINO AG: Wolfgang Seybold, Investor
Relations Europe, AXINO AG, Konigstrasse 26, 70173 Stuttgart, Germany, Tel.
+49-711-25 35 92-40, Fax +49-711-25 35 92-55, wolfgang.seybold@axino.de,
www.burcon.net

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Burcon NutraScience Corporation

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