Calyx Seeking to Diversify Business Interests
April 03 2014 - 6:00AM
Marketwired
Calyx Seeking to Diversify Business Interests
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 3, 2014) - Calyx
Bio-Ventures Inc. (TSX-VENTURE:CYX) ("Calyx" or the "Company") is
providing this corporate update further to the update issued on
March 31, 2014.
Calyx is an agricultural technology company that has been
focused on the renewable fuels sector through an investment
interest in Agrisoma Biosciences Inc. ("Agrisoma"). In light of
ongoing challenges related to the funding of Agrisoma in a way that
is beneficial to all Agrisoma stakeholders, Calyx is seeking to
diversify its business interests and is reviewing businesses in the
tech, agriculture and biotech sectors including the MMPR (Marijuana
for Medical Purposes Regulations) and the agri-pharmaceutical
space.
The medical marijuana industry is an emerging
multibillion-dollar opportunity and is undergoing significant
regulatory and legal reform that offers strong growth opportunities
to early participants. Calyx is considering entry into this arena.
New medical marijuana licensing that came into effect April 1, 2014
will allow for licensed producers to now grow on a larger,
commercial scale.
The medical marijuana industry is in its infancy as a legitimate
corporate industry. Estimates by Health Canada and ArcView Angel
Investors are that the sector will grow 10 fold and become an
industry of more than a $10 billion annually over the next 5
years.
Calyx is currently in discussions for and is completing initial
reviews of a number of potential new business opportunities and
will continue to provide further updates as necessary.
About Calyx
Calyx Bio-Ventures Inc. (TSX-VENTURE:CYX) is an agricultural
technology company focused on renewable fuels including biojet and
biodiesel. Calyx is the largest shareholder of Agrisoma Biosciences
Inc., a company which is producing a new proprietary non-food
energy feedstock crop - 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
carinata substantially reduce carbon and other harmful emissions,
and help to reduce global petroleum dependence. Carinata was used
to fly the world's first 100% biojet flight, as achievement that
Popular Science called one of the top science events on the planet
in 2012. For further information about Calyx, please visit
www.calyxbio.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.
Such forward-looking statements or information are based on
a number of assumptions, which may prove to be incorrect.
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.
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.
Calyx Bio-Ventures Inc.Don KonantzPresident &
CEO604-649-5961dkonantz@calyxbio.comCalyx Bio-Ventures Inc.Investor
Relations:Keir
Reynolds778-998-9242kreynolds@calyxbio.comwww.calyxbio.com
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