In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit’s product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications. 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. With over 285 issued patents and more than 250 additional patent applications 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. Burcon NutraScience Corporation was formed in November 1998 as a venture capital pool corporation whose principal business was to identify and evaluate assets, properties and businesses for acquisition. 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.”. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. As one of the leading processors of canola in Canada, Bunge has strong origination expertise and will supply Merit with certain critical inputs. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… 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. 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. 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. Its name was changed to Merit Functional Foods Corporation on June 20, 2019. Merit is building a state-of-the-art production facility in Winnipeg, where it will produce a portfolio of pea and canola protein ingredients with exceptional functional and nutritional values. 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. 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. 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. LinkedIn Burcon NutraScience Corporation (TSX: BU) in Worldwide In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. Burcon JV Company, Merit Functional Foods, Partners with Bunge to Bring Pea and Canola Protein to Market 08/27/2020. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Building on our unique environmentally friendly and clean-label extraction and purification technologies, the company now boasts an extensive portfolio of innovative composition, application, and process patents. About Burcon NutraScience Corporation Burcon is a global technology leader in the development of plant-based proteins. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. A partnership agreement has been made by Burcon, Nestlé and Merit Functional Foods Corporation to tailor Burcon and Merit’s novel plant-based proteins for use in Nestlé food and beverage applications.. Burcon NutraScience Corporation, a leader in plant proteins, announces that its joint venture company, Merit Functional Foods Corp, has secured a debt financing package up to $85 million of capital from a syndicate of lenders including Export Development Canada, Farm Credit Canada and the Canadian Imperial Bank of Commerce. Vancouver, August 27, 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 Foods” or “Merit”) has received a $30 million investment from a new equity partner, Bunge Limited (NYSE: BG) (“Bunge”), a leading international agribusiness and food company. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Investor Contact Paul Lam Manager, Business Development Burcon NutraScience Corporation Tel (604) 733-0896, Toll-free (888) 408-7960 [email protected] www.burcon.ca Our proprietary processes are clean and cost-effective, offering nothing less than the highest-quality plant-based proteins increasingly being demanded by consumers worldwide. In addition to purchasing equity directly from Merit, Bunge purchased additional shares and debt from existing Merit shareholders who are Burcon’s joint venture partners. The joint venture became Merit Functional Foods, which has an exclusive 20-year royalty-bearing license agreement with Burcon for the production, sale, … Burcon seeks to improve the health and wellness of global consumers through the discovery and development of sustainable, functional and renewable plant-based products for the global food and beverage industries. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. “Bunge also holds a deep knowledge of international commodity markets which will help reinforce our canola business globally.”. Legal notice | On May 15, 2019, Burcon Functional Foods Corporation was incorporated under the Canada Business Corporations Act. The demand for plant-based foods and beverages including dairy and meat alternatives is rapidly increasing. “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. Tel (604) 733-0896, Toll-free (888) 408-7960, Legal notice | The company is headquartered in St. Louis, Missouri and has almost 25,000 employees worldwide who stand behind more than 350 port terminals, oilseed processing plants, grain facilities, and food and ingredient production and packaging facilities around the world. Get a clean start to your product innovation. 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, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Vancouver, British Columbia--(Newsfile Corp. - August 27, 2020) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BUROF) ("Burcon"), a global technology leader … On October 8, 1999 Burcon acquired BMW Canola Inc. of Winnipeg, Manitoba (now renamed Burcon Nutrascience (MB)). Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with disruptive protein ingredient solutions that offer unmatched purity, exceptional taste, and excellent solubility.. 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. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. GENERAL DEVELOPMENT OF THE BUSINESS Since that time, Burcon has evolved to become a global technology leader and innovator in the development of plant-based proteins. 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. Established in 2019, Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with the highest quality protein ingredients and blends that offer unmatched purity, exceptional taste, and excellent solubility. Forward-Looking Information Cautionary Statement. About Burcon NutraScience Corporation Burcon is a global technology leader in the development of plant-based proteins. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… In 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. Burcon is a global technology leader in the development of plant-based proteins. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… Canola is the North American name for the enhanced variation of rapeseed first developed and introduced in 1974 when a Canadian researcher bred a “double low” variety of rapeseed with reduced levels of the two negative factors naturally occurring in rapeseed: erucic acid and glucosinolates. Bunge (www.bunge.com, NYSE: BG) is a world leader in sourcing, processing and supplying oilseed and grain products and ingredients. 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. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the expected use of proceeds contained in this press release. Construction is well underway, and the plant is on track to be fully operational by December 2020. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. Bunge’s experience in selling canola-based products will complement Merit’s patented processing technology. Burcon NutraScience Corporation is a global leader in innovative technologies for the large-scale production of high-quality, cost-effective plant-based proteins and ingredients for use in the global food and beverage industries. Merit has said the joint agreement commences what is intended to be a long-term relationship among the parties covering ongoing innovation and the future supply of Burcon and … Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Find the latest BURCON NUTRASCIENCE CORP (BUROF) stock quote, history, news and other vital information to help you with your stock trading and investing. For more information visit www.burcon.ca. Merit Functional Foods is building a 94,000 square foot production facility in Winnipeg to produce high quality pea and canola proteins. 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. 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. “Burcon is thrilled to have Bunge as an equity partner in Merit Foods,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding: “This secures the future for Merit, which will benefit greatly from Bunge’s large canola origination footprint and multinational platform. 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. On May 23, 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. Burcon NutraScience Corporation is a global leader in innovative technologies for the large-scale production of high-quality, cost-effective plant-based proteins and ingredients for use in the global food and beverage industries. For more information, visit meritfoods.com. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Foods is building an 94,000 square foot state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients. Terms of use. It was incorporated on 15 May 2019 (Wednesday) in Canada and as of 15 May 2019 (Wednesday) is an active company. Burcon Functional Foods Corporation Burcon has established – through a joint venture partnership with an investor group with extensive manufacturing and sales experience in the protein industry – a new operating entity, Burcon Functional Foods Corporation (“Burcon Foods”), which will own and operate the new protein production facility. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Terms of use. Get the latest stock price for Burcon Nutrascience Corporation (BU), plus the latest news, recent trades, charting, insider activity, and analyst ratings. 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