Calyx Announces RSB Certification & Agrisoma Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 5, 2013) - Calyx
Bio-Ventures Inc. (TSX-VENTURE:CYX) ("Calyx" or the "Company") is
pleased to announce that PGF Biofuels Ltd. ("PGF"), in conjunction
with Paterson Grain and the RSB Services Foundation, has received
Roundtable on Sustainable Biomaterials ("RSB") certification for
Resonance®carinata. PGF is the first Canadian organization and only
the fourth feedstock provider globally to obtain this distinguished
certification.PGF has partnered with Agrisoma Biosciences Inc.
("Agrisoma") on the commercialization and market development for
Resonance® carinata. Calyx holds an approximately 50% interest in
Agrisoma.
RSB Services Foundation is the implementing entity of the RSB.
The RSB is one of the world's most respected authorities on
biomaterial sustainability. Achieving RSB certification means that
PGF has met the stringent international sustainability standards,
encompassing environmental, social and economic criteria.
Carinata is an oilseed crop well adapted to production in
semi-arid regions with an oil profile ideally suited for use in the
renewable aviation and biodiesel fuel industries.
"We are very pleased that PGF has obtained RSB certification for
carinata," commented Don Konantz, Chief Executive Officer of Calyx.
"This is a very significant third-party validation for carinata as
a biofuel feedstock that will present significant new opportunities
and establish a competitive advantage for this crop."
Mr. Andrew B. Paterson, Chief Executive Officer of PGF,
commented, "RSB certification will now allow us to access a number
of global markets for carinata oil, which can be converted into
renewable aviation fuel or biodiesel. As the airline industry works
towards reducing overall greenhouse gas emissions by 20% by the
year 2020 it is using the RSB certification as its standard to
ensure that procured renewable aviation fuel is produced in an
environmentally sustainable manner. PGF Biofuels is continuing to
advance development of this industrial oilseed crop, which has
strong genetic properties, and is looking forward to scaling up
production throughout western Canada and the northern United
States."
Mr. Peter Ryus, Chief Executive Officer of RSB Services
Foundation, said, "We strongly believe that new industrial
oilseeds, such as brassica carinata, are the key to a
sustainable bio-based future and we are proud to be a part of the
continued development of this unique oilseed."
PGF has partnered with Agrisoma on the commercialization and
market development for carinata under the Resonance® brand and is
working with Paterson Grain to contract with local growers for
production. These efforts will ensure current and future demands
for renewable aviation fuel and biodiesel are satisfied. Agrisoma
continues to enhance Resonance® carinata with a focus on varietal
development, crop protection, product evaluation and agronomic
characteristic enhancements.
Additionally, BDC Capital Inc. ("BDC"), also a shareholder of
Agrisoma, has advanced $1 million to Agrisoma by way of a
promissory note ("Note") to further Agrisoma's business.
Concurrently, BDC has extended the maturity date of an existing
promissory note, in the principal amount of $1 million, (together
with all interest payments) from December 7, 2013. Both Notes now
mature on March 31, 2014.
Concurrently, Calyx and BDC have amended certain terms of their
shareholders' agreement with respect to Agrisoma. Included under
the amended terms are provisions allowing for the expansion of
Agrisoma's Board of Directors to include four qualified,
independent directors, one of whom shall be Chair of Agrisoma's
board. In addition, material decisions of Agrisoma requiring
special approval have been defined and require the approval of
shareholders holding more than 60% of the issued and outstanding
shares of Agrisoma. Further, issuance of equity securities in
Agrisoma now requires approval by Agrisoma's board, whereas such
issuances previously required the consent of BDC and Calyx. Both
Calyx and BDC have a 60-day pre-emptive right with respect to the
allotment of any equity securities proposed to be issued by
Agrisoma.
Calyx also announces than an aggregate of 250,000 stock options
have been granted to certain directors of the Company.
About Calyx
Calyx Bio-Ventures Inc. (TSX-VENTURE:CYX) is an agricultural
technology company focused on renewable fuels including biojet and
biodiesel. Agrisoma Biosciences Inc., a company in which Calyx is
the largest shareholder, is producing a new proprietary non-food
energy feedstock crop, Resonance® carinata, which yields oil that
can be refined into fuels that work in existing engines as a 100
percent petroleum substitute. From seed to sky, fuels produced from
Resonance® carinata substantially reduce carbon and other harmful
emissions, and help to reduce global petroleum dependence. For
further information about Calyx, please visit www.calyxbio.com.
Resonance® is a registered trademark of Agrisoma Biosciences Inc.
For more information on PGF, please visit www.pgfbiofuels.com. For
more information on Agrisoma, please visit www.agrisoma.com.
Forward-Looking Statements: This document contains certain
forward-looking statements concerning Calyx, as well as other
expectations, plans, goals, objectives, information or statements
about future events, conditions, or performance that may constitute
"forward-looking statements" or "forward-looking information" under
applicable securities legislation. Such statements or information
involve substantial known and unknown risks and uncertainties,
certain of which are beyond Calyx's control, including the
completion of the Private Placement and the delay or failure to
receive regulatory approvals.,
Such forward-looking statements or information are based on
a number of assumptions, which may prove to be incorrect. In
addition to other assumptions identified in this news release,
assumptions have been made regarding, among other things, timing
and completion of the Private Placement, the actual use of
proceeds, and the timing of receipt of regulatory
approvals.
Although Calyx believes that the expectations reflected in
such forward-looking statements or information are reasonable,
undue reliance should not be placed on forward-looking statements
because Calyx can give no assurance that such expectations will
prove to be correct. Forward-looking statements or information are
based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by Calyx
and described in the forward-looking statements or
information.
The forward-looking statements or information contained in
this news release are made as of the date hereof and Calyx
undertakes no obligation to update publicly or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise unless so required by
applicable securities laws or the TSX Venture Exchange. The
forward-looking statements or information contained in this news
release are expressly qualified by this cautionary
statement.
This press release shall not constitute an offer to sell,
nor the solicitation of an offer to buy, any securities in the
United States, nor shall there be any sale of securities mentioned
in this press release in any state in the United States in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state.
Neither the
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.
Don Konantz President & CEO604-649-5961604-649-5961Investor
Relations:Keir
Reynolds778-998-9242kreynolds@calyxbio.comwww.calyxbio.com
Calyx Ventures (TSXV:CYX)
Historical Stock Chart
From May 2024 to Jun 2024
Calyx Ventures (TSXV:CYX)
Historical Stock Chart
From Jun 2023 to Jun 2024