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BioNeutra Global Corporation's Subsidiary BioNeutra North America Inc Signs Agreement with Protein Industries Canada and Partners




Vancouver, British Columbia – May 8, 2024 – BioNeutra Global Corporation (“BioNeutra” or the “Company”) (TSXV:BGA); (OTC:BGACF) is pleased to announce that it has signed Master Partnership Agreement (“MPA”) through its wholly owned subsidiary BioNeutra North America Inc. (“BNA”) with three partners and Protein Industries Canada (“PIC”). The additional partners on the MPA are Roquette Canada Ltd., Prairie Fava Ltd., and Plant Up Inc. Under this agreement, BNA’s portion of the project is $5.7M and is eligible to receive $2.4M back from PIC under the repayable contribution model of the MPA.

 

Through the MPA, BNA aims to expand its product range by introducing several new products that are derived from pea starch. Pea starch, considered the least valuable byproduct in pea protein production, will be transformed to create innovative and nutritious ingredients. This strategic initiative not only enhances the value of pea starch but also contributes to the overall stability of the plant protein industry.

 

Dr. Jianhua Zhu, President and CEO of BioNeutra commented, “Through this agreement, BNA is taking the next step in its evolution expanding beyond isomaltooligosaccharides with multiple product families. This necessary step will enable BNA to better support its customers as they develop novel healthy products.”

 

Additionally, BNA will investigate the requirements to build a large-scale production facility in Canada that will utilize large quantities of readily available high quality pea starch. BNA will use this new facility to manufacture high quality healthy food ingredients including VitaFiber® IMO and the new products being scaled up under the MPA with PIC.

 

Dr. Zhu added, “A new large-scale facility in Canada will propel BioNeutra to the forefront of value-added food ingredients created from starch. We look forward to working with our partners over the next three years on this project.”

 

About BioNeutra

BioNeutra is an award-winning, sector-leading Canadian company in the business of research and development, production, and commercialization of ingredients for nutraceutical, functional and mainstream foods and beverages with a focus on its lead product - VitaFiber® IMO.

 

VitaFiber® IMO is made using a patented process that naturally transforms starch molecules from agricultural crops such as pea or tapioca into healthy, functional molecules. The VitaFiber manufacturing process is based upon a natural enzymatic conversion of the molecules without any chemical modification involved making VitaFiber® IMO a natural food and beverage ingredient. VitaFiber® IMO is also non-GMO, vegan friendly, gluten-free, Kosher and Halal certified and available as certified organic.

 

VitaFiber® IMO has been approved for sale by the world’s top three health regulatory bodies – GRAS approved by the US Food & Drug Administration; the European Food Safety Authority and Health Canada (approved as a novel food ingredient and dietary fiber). VitaFiber® IMO is a naturally sweet, low-calorie alternative to sugar and is a natural source of dietary fiber and prebiotic for human digestive health. It is also helpful with weight management.

 

The Company’s customers include a mix of small and medium businesses as well as a number of high-profile food and beverage manufacturers on four continents.

 

Further information about BioNeutra is available on the Company’s website at www.bioneutra.ca and the SEDAR website at www.sedarplus.ca.

 

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.

 

For further information on BioNeutra, please contact:

Dr. Jianhua Zhu

President and Chief Executive Officer

Tel: (780) 466-1481 (Ext. 132)

  

Forward-Looking Information

 

This press release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of BioNeutra. Forward-looking information is based on certain key expectations and assumptions made by the management of BioNeutra. Although BioNeutra believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because BioNeutra can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. BioNeutra disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, or any applicable securities laws or any state of the United States and may not be offered or sold in the United States or to the account or benefit of a person in the United States absent an exemption from the registration requirements.

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