Bio-Extraction Inc. - Pricing and Closing Set on $10 Million Private Placement Offering


    TORONTO, Jan. 14 /CNW/ - Bio-Extraction Inc. (BXI:TSX-V) ("BioExx") is
pleased to announce that it has priced the previously announced private
placement (the "Offering"), sold by a syndicate of agents led by Canaccord
Adams and including Blackmont Capital Corp. and Research Capital Corporation
(collectively, the "Agents").
    The Offering, which consists of $10 million of units (the "Units"), will
be priced at $0.25 per Unit, each Unit consisting of one common share and
one-half of one common share purchase warrant (a "Warrant"). Each whole
Warrant will entitle the holder to purchase an additional common share at a
price of $0.40 for a period of 24 months following Closing.
    The closing of the Offering (the "Closing") has been set for January 29,
2008. The Agents were previously granted an option to increase the size of the
Offering by up to 20% at any time up to 48 hours before the Closing.
Securities sold under the Offering will be subject to a statutory four month
hold period.
    The net proceeds from the Offering will be used to fund the construction
and start-up of the previously announced BioExx canola extraction facility in
Saskatoon, for working capital, and for general corporate purposes.
    "We are certainly very pleased to be in a position to conclude this
Offering. Clearly, there is significant uncertainty in the financial markets
of late, and as such we are gratified and compelled by the confidence that
investors have placed in BioExx by supporting this Offering," said Chris Carl,
BioExx Chief Executive Officer. "Pending this closing, our team is primed and
ready, and we are very excited about moving forward with the continued
execution of our business plan and the creation of value for our

    About Bio-Extraction Inc.
    The global demand for ever higher food value from agriculture is growing
at an unprecedented pace, driven by population growth and economic growth. At
the same time, food supply constraints are increasing, due to urban
development of arable land, alternate uses of crops for bio-fuel and other
industrial purposes, and many crops having already maximized yields. The
result is an alarming imbalance between over-demand and under-supply.
    BioExx owns patented technology which allows for much lower temperatures
to be used for the extraction of active ingredients and oils from biomass.
This makes BioExx particularly well suited to process oilseed crops in a
manner that allows for the production of much higher value additives to the
food chain, in the form of higher yields of high value proteins which tend to
be temperature sensitive. While forming just a small, but very valuable part
of the solution to prominent global agricultural problems, BioExx has a
mandate to rapidly grow the company through the construction and operation of
extraction facilities around the world - and because of its much lower energy
requirements, to do so in a very environmentally responsible manner.
    To find out more about Bio-Extraction Inc. (TSX-V: BXI), please visit our
website at

    The TSX Venture Exchange has not reviewed this press release and neither
approved nor disapproved the information contained in this press release. The
statements made in this press release include forward-looking statements that
involve a number of risks and uncertainties. These statements relate to future
events or future performance and reflect management's current expectations and
assumptions. A number of factors could cause actual events, performance or
results to differ materially from the events, performance and results
discussed in the forward-looking statements, such as the economy, generally,
the demand for BioExx' products, the availability of funding, and the
anticipated costs of BioExx' plant construction and operation. These
forward-looking statements are made as of the date hereof and BioExx does not
assume any obligation to update or revise them to reflect new events or
circumstances. Actual events or results could differ materially from the
BioExx' expectations and projections.

    %SEDAR: 00023700E

For further information:

For further information: Chris Schnarr, Chief Financial Officer, BioExx,
(416) 588-4442, x.111; Investor Relations: Scott Koyich,
President, Brisco Capital Partners, (403) 262-9888,

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