This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. For more information visit www.burcon.ca. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements or information. Vancouver, BC The demand for plant-based foods and beverages including dairy and meat alternatives is rapidly increasing. 15 Employees In BC (15 Total) | https://www.bctechnology.com, © 2021 T-Net. 06/22/2020. Senior Project Engineer at Merit Functional Foods Canada. The interest free loan, repayable over 10 years, was approved under Agriculture and Agri-Food Canada’s AgriInnovate Program. Personnel Changes At This Company. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. Photo by Postmedia files. ST. LOUIS — Bunge Ltd. has made a $30 million capital investment in Merit Functional Foods, giving the ingredient supplier a minority interest in the Canadian-based company. Construction is well underway, and the plant is on track to be fully operational by December 2020. As part of the transactions announced today, Bunge, Burcon and Merit's other shareholders have agreed to certain contractual rights, including a right, but not an obligation, of Burcon, in certain circumstances, to participate in a sale of all but not less than all of its shares in Merit, and that in certain circumstances, Merit will have the right to buyout from Burcon the May 2019 license and production agreement for an amount representing the discounted future royalties over the life of the license agreement. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients. In 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. | Founded in 1818, Bunge's expansive network feeds and fuels a growing world, creating sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. Get a clean start to your product innovation. Merit Foods is building a 94,000 square foot production facility in Manitoba, Canada to produce, under license, Burcon’s novel pea and canola protein ingredients. Vancouver, BC, September 2, 2020--(T-Net)--Burcon NutraScience Corporation (TSX:BU), a technology leader in the development of plant-based proteins, announced that its joint venture company, Merit Functional Foods Corporation has received a $30 million investment from a new equity partner, Bunge Limited (NYSE: BG) ("Bunge"), a leading international agribusiness and food company. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Forward-Looking Information Cautionary Statement. Bunge's experience in selling canola-based products will complement Merit's patented processing technology. Important factors that could cause actual results to differ materially from Burcon’s plans and expectations include the actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled “Risk Factors” in Burcon’s annual information form dated June 28, 2019 filed with the Canadian securities administrators on www.sedar.com. Bunge, an international agribusiness and food company headquartered in Missouri, US, has made a C$30m (US$22.9m) capital investment in Merit, giving the global ingredient supplier a … Follow Company, Burcon JV Company, Merit Functional Foods, Partners with Bunge to Bring Pea and Canola Protein to Market. Article Sidebar. white-space: pre-line; /* CSS 3 (and 2.1) */ Canada-based Merit Functional Foods - a joint venture between plant protein tech specialist Burcon NutraScience and three veteran food industry executives – has … Page 1 of 26 jobs. All Rights Reserved. padding-left: 0px; The partnership will expedite Merit's construction of its state-of-the-art plant-based protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. With over 285 issued patents and more than 250 additional patent applications, that have been developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. Any forward-looking statement or information only speaks as of the date on which it was made and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Registration on or use of this website constitutes acceptance of our Terms of Use. By Martin Cash. The partnership will expedite the construction of Merit’s plant-based protein facility in Winnipeg, Man., where it will produce novel pea and canola protein ingredients. Merit Functional Foods is a joint venture (JV) between Burcon NutraScience and an investor group comprising Hemp Oil Canada founder Shaun Crew, former Manitoba Harvest COO Barry Tomiski and former Manitoba Harvest vice-president Ryan Bracken. Although Burcon believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and accordingly, investors should not rely on such statements. JavaScript is disabled or not supported by your web browser. As a result of these transactions, Bunge is a 25% shareholder in Merit, and Burcon is now Merit Foods largest shareholder owning 33.3% of the plant-based protein producer. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form dated June 29, 2020 filed with the Canadian securities administrators on www.sedar.com. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements or information. Vancouver, June 22, 2020 / – Burcon NutraScience Corporation (“Burcon”) (TSX:BU, OTCQB:BUROF), a global technology leader in the development of plant-based proteins, is pleased to announce that its joint venture company, Merit Functional Foods Corporation (“Merit Functional Foods” or “Merit”) has secured additional debt financing of $10 million in the form of a 10-year interest free loan … 15 Employees In BC (15 Total) About Merit Functional Foods This financing will further support Merit Functional Foods’ growth plans and allow for expansion of their pea and canola protein capacity. | Copyright | Terms of Use | Contact T-Net | Site Map. Terms of use. With this transaction, Burcon is aligned with a leader in the global food ingredients industry, expanding Merit's reach to new customers and consumers in Canada, North America and worldwide.". Dan Kraft Vice President Operations at Merit Functional Foods Winnipeg, MB. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. Forward looking statements or forward-looking information can be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “project,” “estimate,” “expect,” “believe”, “future,” “likely,” “may,” “should,” “could”, “will” and similar references to future periods. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. ST. LOUIS — Bunge Ltd. has made a $300 million capital investment in Merit Functional Foods, giving the ingredient supplier a minority interest in the Canadian-based company. "We're excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch," Merit's Co-CEO Ryan Bracken said. Foods Corp. Winnipeg plant gets $ 100M in federal financing to pull protein from peas canola! 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