Calyx Announces Appointment of New Chief Executive Officer
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 4, 2013) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Bio-Ventures Inc. ("Calyx" or the "Company") (TSX VENTURE:CYX) is
pleased to announce that Don Konantz has been appointed President and
Chief Executive Officer. Since December, 2012, Mr. Konantz has served as
one of two Calyx-appointed directors to the board of Agrisoma
Biosciences Inc. ("Agrisoma"), a leading-edge agricultural technology
company in which Calyx is the largest shareholder.
Konantz holds a Masters of Business Administration from the Ivey School
at University of Western Ontario. He brought the College Pro Painters
concept to Winnipeg and after successfully establishing it, moved to
Vancouver to scale the business across the west. Mr. Konantz has thirty
years of top management of dynamic, entrepreneurial companies including
such international successful brands as College Pro and Colorworks. Mr.
Konantz has been a consultant to Calyx for the past 6 months.
are very pleased that Don Konantz is joining Calyx as Chief Executive
Officer," commented Hugh Notman, the Company's departing CEO. "His
industry knowledge, background, and strong relationships are an ideal
mix of skills to lead Calyx. His insights, leadership and experience are
of significant benefit to the Company and to Agrisoma." Mr. Notman will
remain on Calyx's Board of Directors.
Konantz commented, "I am pleased to join Calyx as President and CEO at
this exciting time. The groundbreaking agricultural technologies of
Agrisoma can translate into significant value for Calyx shareholders and
I look forward to contributing to creating this value."
the Company is pleased to announce a non-brokered private placement of
up to $400,000 (the "Private Placement"). The Private Placement will
consist of the sale of up to 2,666,666 units (a "Unit") at a price of
$0.15 per Unit. Each Unit comprises one common share and one common
share purchase warrant. Each common share purchase warrant will entitle
the holder to acquire one additional common share of the Company at a
price of $0.35 for a period of eighteen months from the closing of the
Private Placement. The Company expects that it will pay finders' fees of
up to 8% of the gross proceeds raised in cash, and issue share purchase
warrants of up to 8% of the total number of Units issued in connection
with the Private Placement. Subject to the acceptance of the TSX Venture
Exchange, such fiscal advisory fees may be paid in securities in lieu
Closing of the Private Placement is anticipated to occur on or before September 12, 2013
and is subject to receipt of applicable regulatory approvals including
approval of the TSX Venture Exchange. The securities issued will be
subject to a standard four-month hold period. The funds raised from the
Private Placement will be used for general working capital and corporate
also announces that it has granted an aggregate of 1,950,000 stock
options to directors, officers, and consultants, pursuant to its Stock
Option Plan. Each stock option is exercisable into one common share of
the Company at a price of $0.20 per share for a period of five years
from September 3, 2013. The stock options are vested immediately, with
the exception of stock options issued pursuant to investor relations
activities, which will vest in quarterly installments over a period of
one year in accordance with the policies of the TSX Venture Exchange.
Bio-Ventures Inc. (TSX VENTURE:CYX) is an agriculture technology
company. It is the largest shareholder in Agrisoma Biosciences Inc.,
which is producing a new proprietary, non-food, energy feedstock crop
carinata, which yields oil that can be refined into transportation 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. For further information about Calyx, please visit www.calyxbio.com.
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.
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
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.
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
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.
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.