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.

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