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The Agents have the option, exercisable in whole or in part up to 48 hours prior to the closing of the Offering, to offer for sale up to an additional 4,000,000 common shares of the Company for additional gross proceeds of up to
BioExx intends to use the net proceeds from the Offering to fund capital expenditures at the BioExx Saskatoon processing facility and the proposed North Dakota processing facility and for general working capital and corporate purposes. In the context of its current business plan, BioExx believes that the net proceeds of the Offering will enhance the strength of the Company's balance sheet and working capital position for the start-up and ramp-up phases of its Saskatoon protein isolate facility, with excess capital to be allocated to its planned North Dakota facility.
The Offering is expected to close on or about
About Bio-Extraction Inc.
Headquartered in
"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, competition in its target markets, the demand for BioExx's products, the availability of funding, the efficacy of its technology, and the anticipated costs of BioExx's 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 BioExx's expectations and projections."
"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."
For further information: Bio-Extraction Inc.: Chris Schnarr, Chief Financial Officer, (416) 588-4442 x111, [email protected]; Investor Relations: Brisco Capital Partners, Scott Koyich, President, (403) 262-9888, [email protected]
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