Concurrently with the Private Placement, Advitech purchased from Avrio and SemBioSys Genetics Inc. ("SemBioSys"), all of the issued and outstanding shares of Botaneco Specialty Ingredients Inc. for an aggregate purchase price of
Both the Private Placement and the Purchase Transaction closed under escrow on
Immediately after the Private Placement and the Purchase Transaction, Avrio now has beneficial ownership and control over 30,474,364 Common Shares which represents approximately 41.7% of all issued and outstanding Common Shares and 7,812,500 Warrants representing approximately 50% of all of the issued and outstanding Warrants. Avrio did not own any Common Shares or Warrants before the Private Placement and the Purchase Transaction.
The Private Placement and the Purchase Transaction were private transactions not affected through the facilities of any stock exchange or other market.
Avrio holds the Common Shares and the Warrants for investment purposes and, in accordance with applicable securities laws, may increase or decrease its investment depending on market conditions.
Additional Information about the Private Placement and the Purchase Transaction can be found in the Early Warning Report filed today on SEDAR by Avrio.
About Avrio
Avrio Ventures Limited Partnership is one of Canada's leading venture capital funds focused on investing in commercialization to growth stage companies developing products and technologies that address challenges in the areas of health, wellness and sustainability. Avrio's portfolio includes a number of investments in the food processing, natural personal care and natural industrial products sectors. Avrio is a limited partnership created under the laws of Ontario, which is managed by its general partner, Avrio Ventures General Partner Ltd. The Avrio team also manages FCC Ventures, a fund focused on the agricultural sector. For more information about Avrio, visit www.avrioventures.com.
For further information: For further information: Aki Georgacacos, CA, CFA, CF, Managing Director, (403) 215-5489, Fax: (403) 215-5495
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