Wellington Financial leads $14 million financing for BIOX



    TORONTO, Nov. 14 /CNW/ - Wellington Financial LP, a privately held
specialty finance firm, today announced a $14 million debt financing for BIOX
Corporation ("BIOX"), Canada's largest multi-feedstock producer of biodiesel
fuel. Participating in the financing are VentureLink LP and other existing
BIOX investors.
    "BIOX's patented process positions it to be the low-cost producer of
biodiesel in the market," said Mark McQueen, President and CEO at Wellington
Financial. "We are excited to be partnering with BIOX by providing them the
True Growth Capital that will enable them to bring production levels at their
existing facility up to full capacity and help pave the way to the next step
of significant expansion."
    Jim Whitaker, Managing Partner at VentureLink said, "BIOX is a tremendous
Canadian technology company with the opportunity to exploit its capacity to
convert a broad range of feedstock from around the world."
    Headquartered in Oakville, Ontario, BIOX is the owner of the BIOX
Process, originally developed by Dr. David Boocock at the University of
Toronto. The proprietary process converts a wide variety of inputs into
biodiesel, an environmentally friendly, non-toxic, biodegradable and renewable
fuel that can be used as an alternative to petroleum diesel. BIOX currently
operates a commercial-scale production facility located in Ontario. This
67 million litre annual capacity plant is one of the largest continuous flow
biodiesel production facility in the world and BIOX has plans to build and own
additional plants in other attractive markets based on factors such as the
recent federal regulation requiring a blend of 2% renewable fuel content in
all diesel fuel sold in Canada by no later than 2012.
    Tim Haig, Chief Executive Officer at BIOX explained, "The renewable fuels
sector is poised for tremendous growth and BIOX is a leader in this dynamic
industry. BIOX is the largest producer of biodiesel in Canada and with the
ongoing support of our shareholders and partners, including Wellington
Financial and VentureLink, BIOX Corporation is well positioned to continue to
execute on its expansion plans within Canada and internationally."
    Goodmans LLP and McCarthy Tétrault LLP provided legal advice for this
transaction.
    Current institutional investors in BIOX include Birch Hill Equity
Partners and VentureLink LP.
    Wellington Financial LP is currently managing a $400 million investment
program via Wellington Financial Fund III. Since Fund III began operation in
September 2006, Wellington Financial LP has led more than $115 million of
transactions, making it the most active fund of its kind in Canada.

    About Wellington Financial LP

    Wellington Financial LP is a privately held specialty finance firm
providing operating lines of credit, term, venture and amortizing loans up to
$40 million. Wellington Financial LP is currently deploying a $400 million
investment program via its third fund. The fund's clients vary in size and
business model, but generally have current year revenue of approximately
$5 million. Wellington Financial LP is managed by a partnership controlled by
fund management and Clairvest Group Inc. (CVG:TSX), who jointly have
contributed a large financial stake to Fund III. Limited partners include
several of Canada's largest institutional investors, crown corporations,
financial institutions and pension funds. Please visit the fund website at
www.wellingtonfund.com, or the Wellington Financial team blog at
www.wellingtonfund.com/blog.




For further information:

For further information: Amy Olah, Marketing Manager, Wellington
Financial LP, Tel: (416) 682-6002, aolah@wellingtonfund.com

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Wellington Financial LP

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