(TheNewswire)
Vancouver, British Columbia – TheNewswire - May 8, 2024 – BioNeutra Global Corporation (“BioNeutra”or the “Company”) (TSXV:BGA ) ; ( OTC:BGACF) ispleased to announce that it has signed Master Partnership Agreement(“MPA”) through its wholly owned subsidiary BioNeutra NorthAmerica Inc. (“BNA”) with three partners and Protein IndustriesCanada (“PIC”). The additional partners on the MPA are RoquetteCanada Ltd., Prairie Fava Ltd., and Plant Up Inc. Under thisagreement, BNA’s portion of the project is $5.7M and is eligible toreceive $2.4M back from PIC under the repayable contribution model ofthe MPA.
Through the MPA, BNA aims to expand its product rangeby introducing several new products that are derived from pea starch.Pea starch, considered the least valuable byproduct in pea proteinproduction, will be transformed to create innovative and nutritiousingredients. This strategic initiative not only enhances the value ofpea starch but also contributes to the overall stability of the plantprotein industry.
Dr. Jianhua Zhu, President and CEO of BioNeutracommented, “Through this agreement, BNA is taking the next step inits evolution expanding beyond isomaltooligosaccharides with multipleproduct families. This necessary step will enable BNA to bettersupport its customers as they develop novel healthyproducts.”
Additionally, BNA will investigate the requirements tobuild a large-scale production facility in Canada that will utilizelarge quantities of readily available high quality pea starch. BNAwill use this new facility to manufacture high quality healthy foodingredients including VitaFiber® IMO and the new products beingscaled up under the MPA with PIC.
Dr. Zhu added, “A new large-scale facility in Canadawill propel BioNeutra to the forefront of value-added food ingredientscreated from starch. We look forward to working with our partners overthe next three years on this project.”
About BioNeutra
BioNeutra is an award-winning, sector-leading Canadiancompany in the business of research and development, production, andcommercialization of ingredients for nutraceutical, functional andmainstream foods and beverages with a focus on its lead product -VitaFiber® IMO.
VitaFiber® IMO is made using a patented process thatnaturally transforms starch molecules from agricultural crops such aspea or tapioca into healthy, functional molecules. The VitaFibermanufacturing process is based upon a natural enzymatic conversion ofthe molecules without any chemical modification involved makingVitaFiber® IMO a natural food and beverage ingredient. VitaFiber®IMO is also non-GMO, vegan friendly, gluten-free, Kosher and Halalcertified and available as certified organic.
VitaFiber® IMO has been approved for sale by theworld’s top three health regulatory bodies – GRAS approved by theUS Food & Drug Administration; the European Food Safety Authorityand Health Canada (approved as a novel food ingredient and dietaryfiber). VitaFiber® IMO is a naturally sweet, low-calorie alternativeto sugar and is a natural source of dietary fiber and prebiotic forhuman digestive health. It is also helpful with weight management.
The Company’s customers include a mix of small andmedium businesses as well as a number of high-profile food andbeverage manufacturers on four continents.
Further information about BioNeutra is available on theCompany’s website at www.bioneutra.ca and theSEDAR website at www.sedarplus.ca .
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
For furtherinformation on BioNeutra, please contact:
Dr. Jianhua Zhu
President and Chief Executive Officer
Tel: (780) 466-1481 (Ext. 132)
Email: jianhua.zhu@bioneutra.ca
Forward-Looking Information
This press release may include forward-lookinginformation within the meaning of Canadian securities legislationconcerning the business of BioNeutra. Forward-looking information isbased on certain key expectations and assumptions made by themanagement of BioNeutra. Although BioNeutra believes that theexpectations and assumptions on which such forward-looking informationis based are reasonable, undue reliance should not be placed on theforward-looking information because BioNeutra can give no assurancethat they will prove to be correct. Forward-looking statementscontained in this press release are made as of the date of this pressrelease. BioNeutra disclaims any intent or obligation to updatepublicly any forward-looking information, whether as a result of newinformation, future events or results or otherwise, other than asrequired by applicable securities laws.
This news release does not constitute an offer to sellor a solicitation of an offer to buy any of the securities describedherein in the United States. The securities described herein have notbeen and will not be registered under the United States Securities Actof 1933, as amended, or any applicable securities laws or any state ofthe United States and may not be offered or sold in the United Statesor to the account or benefit of a person in the United States absentan exemption from the registration requirements.
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