QUEBEC CITY, March 1, 2012 /CNW/ - Botaneco Corp. ("Botaneco" or the "Corporation") (TSXV: BOT), a health science company focused on natural ingredients in the personal care industry, is pleased to announce that it has retained Newplanet Inc. ("Newplanet") to provide Botaneco with strategic investor relations and communication services.
Newplanet is a specialty investor relations firm that focuses strictly on companies that possess exceptional patented technology within the health science industry. Newplanet, which is based in Winnipeg, MB, was founded by Dr. Kevin Richardson, who most recently worked with Botaneco through SectorSpeak Inc. Prior to this Dr Richardson worked at DiaMedica Inc., a biotechnology company, where he was co-inventor of the lead drug program for Type 2 diabetes and latterly led the investor relations program for over 4 years.
"The future of the personal health care and cosmetic industry is undoubtedly going 'green' as consumers become more aware of the unwanted chemicals in these products." stated Dr. Richardson. "Botaneco has exceptional proprietary technology that not only replaces unwanted chemicals in these products, but also improves their performance, versatility and sustainability. I am thrilled to be part of a company that has the potential to make a significant impact in such a lucrative market".
Pursuant to the agreement between Newplanet and Botaneco, Newplanet will be responsible for designing and implementing a customized investor relations strategy that clearly identifies Botaneco's market position and potential. Newplanet will also provide the Company with a number of other services including but not limited to: ongoing capital markets counsel; coordination of capital markets outreach with key members of the professional investment community; and development of retail broker relations. Under the terms of the agreement between Botaneco and Newplanet, Botaneco will pay Newplanet an initial monthly retainer fee of $3,000, rising to $5,000 upon the achievement of certain corporate milestones. Botaneco has also granted Newplanet 300,000 stock options today (the "Initial Options") and has agreed to grant a further 200,000 additional options upon the achievement of certain corporate milestones (the "Additional Options"). Each Initial Option allows Newplanet to acquire one common share of Botaneco until March 1, 2017 for a price of $0.10 per share. The Additional Options will be priced at or around market price at the time of their grant in compliance with policies of the TSX Venture Exchange. The Initial Options are governed by the stock option plan of the Corporation and will vest over a one year period at a rate of 25% per quarter. The initial contract term is 12 months and is effective March 1, 2012.
The Corporation also announces that it has granted today a total of 575,000 stock options to management and employees.
A number of 150,000 stock options were granted to management while 425,000 stock options were granted to employees. Each stock option allows the holder thereof to acquire one common share of Botaneco until March 1, 2017 for a price of $0.10 per share. The options are governed by the stock option plan of the Corporation and will vest in three instalments on the date of grant, the first and second anniversary of their date of grant.
About Botaneco Corp.
Botaneco Corp. specializes in personal care, food and nutraceutical ingredients. We are committed to developing groundbreaking ingredients based on our patented technologies, and offering multifunctional, tangible and documented benefits to formulators and consumers alike. Botaneco is a global developer and marketer of innovative technologies that help manufacturers meet the consumers growing demand for natural, environmentally friendly, personal healthcare products. A competitive advantage to Botaneco's patented technology over traditional products in the 'green sector' is the ability to significantly enhance the performance and versatility of these skin and hair care products. The company has also been awarded the Canadian Agri-Food Award of Excellence for its flaxseed technology marketed in the natural food industry. Botaneco holds patents for its Hydresia® Oleosome, Vegelatum® Gel, Dermylex® Whey Protein and Flaxseed De-hulling technology.
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:
Kevin Richardson, PhD
President & CEO