BXI Bioexx Specialty Proteins Ltd Com Npv

BioExx Specialty Proteins Ltd. (TSX VENTURE: BXI) ("BioExx" or "the Company") is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the "TSX"). Final approval of the listing is subject to BioExx providing certain customary documentation as requested by the TSX, anticipated to be completed within a few weeks. Upon the change in listing to the TSX, the common shares of the Company will continue to trade under its present symbol "BXI".

BioExx is also pleased to report that its seed crushing facility in Saskatoon has reached performance parameters that now exceed original estimates. The plant is able to produce at higher daily seed tonnage and higher oil yield than anticipated in its original crush plant operating forecasts, while producing oil of a quality which exceeds all required specifications. Seed throughput is approximately 85 Mt per day, well ahead of the crush-only operation target of 70 Mt per day, and oil yields are at or above 85%, ahead of the crush operation target of 80%. The operating team continues to seek further improvements despite having already surpassed its original targets.

In addition, installation work for the first 50% of capacity for the Extraction and Isolate plant, internally referenced as Phase 2, is proceeding well. While commissioning (installing and bringing power to individual pieces of equipment) is expected to commence in January as planned, the start-up of the entire protein production line is projected to move from late-February to late-March or early April based on current schedule estimates. This small shift is primarily due to longer delivery times than anticipated for a few equipment items and for the hook-up of incremental gas and electrical services. Every step is being taken to mitigate these issues, and to bring the actual start-up forward to the earliest possible date. Notwithstanding any such start-up timeline revisions, the Company is still working aggressively towards its target of commercial protein isolate shipments in April.

"While we are not pleased with any delay in full plant start-up, especially given the monumental effort put forth by our BioExx team and its associates surrounding the project, we do not expect these date changes to have any meaningful impact on the various milestones we have set in place for the year. This is a first-of-its-kind facility and on balance it is proceeding extremely well. We have a very high degree of confidence and excitement regarding our protein process and our products as we get closer to start-up." said BioExx CEO Chris Carl. "With respect to the crush plant, we are especially pleased with the results that have been achieved, as we have now demonstrated an ability to operate at levels beyond what most believed the capability of the equipment to be. This is an important achievement on two fronts. First, it demonstrates the excellence of our plant operations team in its ability to run the plant better than expectations on each key metric, and second, it demonstrates the plant is ready to meet all of the performance requirements and quality specifications needed for the pending start-up of protein production."

Finally, BioExx continues to produce high quality isolates through internal and external pilot facilities (with the most recent production exceeding specifications at over 93% purity) so that market engagement with end customers can continue. This also allows the operating team to continue to gain additional experience with key process parameters in order to facilitate faster and optimized ramp-up of the full scale plant when it comes on line. Market feedback to date confirms the Company's expectation that its proteins are best oriented towards higher value applications, such as health and nutrition products.

The Board of Directors of the Company has also approved the issuance of stock options for the year 2010, inclusive of 2,450,000 options to Officers and Directors. These options are exercisable at $2.05 per share and will expire on January 11, 2015. After this issuance, and consistent with Company policy, the total issued and outstanding stock option amount remains at less than 80% of the amount which has been approved by the Company's shareholders. All options vest over 24 months, excepting that, and as was the case with the 2009 stock option issuance, those options issued to Officers will not begin vesting until after protein isolates have commenced shipping from the Saskatoon plant.

About BioExx Specialty Proteins Ltd.

Headquartered in Toronto, Canada, BioExx is a leading technology and industrial processing company focused on the extraction of oil and high-value proteins from oilseeds for the global food, beverage, and nutrition markets.

BioExx uses patented technology that utilizes significantly lower temperatures than conventional methods for extracting the final quantities of oil necessary to enable its simplified and patent- pending methods for separating proteins from oilseeds. Without the extraction of virtually all of the oil at low temperatures, and in the manner developed by BioExx, the protein separation methods would not work. It is the combination of these proprietary processes that has enabled BioExx to develop product profiles that do not infringe either on methods or product profiles developed by others. Through its extensive research and development work, together with an exhaustive review of published and prior art, BioExx is confident that all of its processes and resulting products are unique in the marketplace.

Relative to other commercial processes, the low temperature BioExx process results in comparatively low energy requirements, environmentally sound extraction and protein separation processes, and very high human food yield that cumulatively have the potential to make a highly valuable contribution to global food and protein supply while maintaining an excellent environmentally sustainable footprint.

BioExx operates a commercial scale extraction facility in Saskatoon, Saskatchewan, is in development stages on it second plant in Minot, North Dakota and has a mission to construct additional and larger processing facilities on a global basis. To find out more about BioExx Specialty Proteins Ltd. (TSX VENTURE: BXI), please visit www.bioexx.com

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.

Contacts: BioExx Specialty Proteins Ltd. Chris Schnarr Chief Financial Officer (416) 588-4442 x111 cschnarr@bioexx.com www.bioexx.com Investor Relations: Brisco Capital Partners Scott Koyich President (403) 262-9888 scott@briscocapital.com