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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. Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. Merit Functional Foods Corporation Corporation Number: 11412728 Merit Functional Foods Corporation is a company governing under the Canada Business Corporations Act - 15 May 2019 (Wednesday). David Shambrock. | Bunge's experience in selling canola-based products will complement Merit's patented processing technology. white-space: -o-pre-wrap; /* Opera 7 */ 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. 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. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. A rendering of Merit Functional Foods Corporation's 88,000-square-foot pea and canola protein extraction facility in the northwest area of Winnipeg. Registration on or use of this website constitutes acceptance of our Terms of Use. }, Copyright © T-NET. "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. 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. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Dan Kraft Vice President Operations at Merit Functional Foods Winnipeg, MB. 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. CLARISOY is a trademark of Archer Daniels Midland Company. Merit Functional Foods was formed as a joint venture between Burcon and three executives from the food industry in May 2019. The Government of Canada announced Monday, June 22, 2020, financing of close to $100 million for the new Merit Functional Foods plant in Winnipeg. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. 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. The demand for plant-based foods and beverages including dairy and meat alternatives is rapidly increasing. word-wrap: break-word; /* IE */ This financing will further support Merit Functional Foods’ growth plans and allow for expansion of their pea and canola protein capacity. Burcon is a global technology leader in the development of plant-based proteins. All Rights Reserved. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. white-space: pre-line; /* CSS 3 (and 2.1) */ Burcon NutraScience Joint Venture Company, Merit Functional Foods, Announces Close of $30 million Investment from new Equity Partner, Bunge, Company Profile | https://www.bctechnology.com, © 2021 T-Net. About Merit Functional Foods Personnel Changes At This Company. padding-left: 0px; Senior Project Engineer at Merit Functional Foods Canada. Tel (604) 733-0896, Toll-free (888) 408-7960, Legal notice | In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. For more information visit www.burcon.ca. Protein production plant breaks ground in Centreport. white-space: -moz-pre-wrap; /* Mozilla */ Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon… Indeed may be compensated by these employers, helping keep Indeed free for job seekers. Please select how you would like to be notified of updates by this Company: Display Updates For This Company in My Member Account Online. 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. 15 Employees In BC (15 Total) white-space: -hp-pre-wrap; /* HP printers */ Burcon expects that the $4 million guarantee Burcon previously provided to help facilitate Merit’s debt financing, will be released in stages over time as Merit draws down on the $10 million AIP Loan announced today. 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 will disrupt the industry’s perception of plant-based protein with high quality functional ingredients that are unmatched in purity, superior in solubility and exceptional in taste. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. 1 2 3, Burcon NutraScience Corporation 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. 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.". 15 Employees In BC (15 Total) Merit Functional Foods is building a 94,000 square foot production facility in Winnipeg, Manitoba 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 … It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. 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. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. 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. 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. Photo by Postmedia files. Canadian plant-based company Merit Functional Foods is partnering with Bunge Limited. 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. Speaking from Rideau Cottage on June 22, the prime minister announced new funding for Canada’s plant-based food industry, totalling almost $100 million.. Trudeau explained that the money would be going to Merit Functional Foods, a Canadian company that specializes in plant-based proteins.. Burcon is involved in the development of plant-based proteins obtained pea, sunflower seed, canola, soy, and hemp. 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. 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. 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. As one of the leading processors of canola in Canada, Bunge has strong origination expertise and will supply Merit with certain critical inputs. For more information, visit meritfoods.com. 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. 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. Merit Functional Foods jobs. Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. 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. Page 1 of 26 jobs. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. 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. WINNIPEG, Manitoba (January 10, 2020) – Merit Functional Foods, in consortium with Pitura Seeds and The Winning Combination, announces today that it has received a co-investment from Protein Industries Canada (PIC), which will facilitate the rapid growth of the new company. 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. 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. WINNIPEG, Manitoba--(BUSINESS WIRE)--Merit Functional Foods announces today a new partnership with Bunge Limited that will bolster its mission … 06/22/2020. 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. Merit’s product portfolio currently consists of three product family offerings: pea protein, non-GMO canola protein, and MeritPro™, a unique lineup of nutritionally complete protein blends. 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. Terms of use. The state-of-the-art facility, which is scheduled to be completed in Q4 2020 will be the only commercial facility in the world with the capability to produce food grade canola proteins. Merit Functional Foods Corp. has already broken ground on its new $65-million pea and canola protein production plant in the BrookPort industrial park in the northern part of Centreport only months after closing its financing. 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. Displayed here are job ads that match your query. Company Profile Changes and Updates It was incorporated on 15 May 2019 (Wednesday) in Canada and as of 15 May 2019 (Wednesday) is an active company. 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. Sort by: relevance - date. Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. The state-of-the-art facility, which is scheduled to be completed in the first quarter of 2021, will be the only commercial facility in … (Submitted/Raymond S.C. Wan Architect Inc.) 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. All Rights Reserved. Please Send me an Email Alert (With All of My Company Updates) On The Following Dates: .wrapme3 { Its entire portfolio aligns with a number of consumer label preferences, including allergen-free, gluten-free, non-dairy, non-GMO, non-soy and vegan. 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