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TSX VENTURE EXCHANGE: AVI
QUEBEC CITY, Nov. 25 /CNW Telbec/ - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) announced today that the TSX Venture Exchange Inc. (the "TSX-V") approved the previously announced consolidation of its issued and outstanding common shares on the basis of a ratio of eight pre-Consolidation shares for every one post-Consolidation share (the "Consolidation") and that the common shares of Advitech will be traded on a post-Consolidation basis starting November 26, 2009.
The Consolidation has been completed as part of the previously announced acquisition of all the issued and outstanding shares of Botaneco Specialty Ingredients Inc. ("Botaneco") held by Avrio Ventures Limited Partnership ("Avrio") and SemBioSys Genetics Inc. ("SemBioSys"), the $2,515,000 equity financing with, among others, Agechem L.P Venture ("Agechem") and Avrio, and the redemption of the 58,083,334 pre-Consolidation common share purchase warrants held by AgeChem.
Further details on the Consolidation and the reasons therefore, are contained in the management information circular of the Corporation dated March 13, 2009, which can be found on SEDAR at www.sedar.com.
Advitech is a health sciences and technology company with a mission to discover and commercialize proprietary and evidence-based natural health products. Effective and safe, these products play a role in the prevention of immune-mediated inflammatory disorders, such as psoriasis and inflammatory bowel disease. Advitech produces Dermylex(R) for the treatment of mild-to-moderate psoriasis. Advitech has drawn up a research program to develop new applications related to wound healing. This development is derived from both its XP-828L and IM technological platforms. More information is available and can be accessed at http://www.advitech.com/.
Botaneco is the global developer and marketer of innovative Oleosome-based ingredients to the personal care and OTC topical markets. As a technologically driven provider of high performance, proprietary Oleosome-based ingredients, Botaneco is committed to developing innovative ingredients that offer multifunctional, tangible and documented benefits to both formulators and consumers. Botaneco's head office and manufacturing facility is located in Calgary, Canada and its satellite office in Bensalem, PA. More information is available and can be accessed at http://www.botaneco.ca/.
The AgeChem Venture Fund L.P. is currently investing in companies developing therapeutics targeting age-related diseases. The range of diseases and chronic conditions associated with aging provides a breadth of attractive investment opportunities. AgeChem's principals have been active in the healthcare sector for over 15 years having made investments in several private and public entities. In addition to AgeChem, some of the principals are also managing the GeneChem Technologies Venture Fund L.P. and the GeneChemTherapeutics Venture Fund L.P. (http://www.genechem.com/).
Avrio Ventures Limited Partnership is one of Canada's leading venture capital funds focused on investing in commercialization to growth stage companies developing food and/or agricultural technologies that address global 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 http://www.avrioventures.com/.
SemBioSys, a corporation incorporated under the laws of Canada, is focused on leveraging its unique proprietary platform to manufacture high-value proteins and oils. SemBioSys' seed-based protein production system can provide for its partners product enablement, exceptionally low cost and unprecedented scalability. SemBioSys is applying the platform with high selectivity to products with tremendous clinical promise and value potential. SemBioSys' current pharmaceutical development programs include insulin (SBS-1000, regulated as a biosimilar in Europe) and Apo AIMilano, a next-generation cardiovascular therapy. SemBioSys is listed on the Toronto Stock Exchange under the ticker SBS. More information is available at http://www.sembiosys.com/.
This press release contains forward-looking statements, which
reflect the Corporation's current expectations
regarding future events. The forward-looking statements
involve risks and uncertainties. Actual results could differ
materially from those projected herein.
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.
SOURCE ADVITECH INC.
For further information: For further information: Christian Labbé, Vice-President and Chief Financial Officer, Advitech Inc., (418) 686-7498, ext. 227