SunOpta Considers an Equity Financing for Its BioProcess Group.TORONTO -- SunOpta Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :STKL) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SOY) today announced that it has engaged two investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. as agents with an intention of raising up to $30,000,000 U.S. in equity capital in a private placement for a minority position within the SunOpta BioProcess bi·o·proc·ess n. 1. A technique that produces a biological material, such as a genetically engineered microbial strain, for commercial use. 2. Group. SunOpta believes this is the time to seek investment partners for its BioProcess Group due to increasing interest it is seeing in cellulosic ethanol Cellulosic ethanol is a type of biofuel produced from lignocellulose, a structural material that comprises much of the mass of plants. It is composed mainly of cellulose, hemicellulose and lignin. and its BioProcess technology, which SunOpta believes makes the production of cellulosic ethanol commercially possible. The proceeds of the financing will be used to invest in cellulosic ethanol production and to continue development of expanded process applications utilizing the Group's technology and expertise in providing integrated bioprocess solutions. The decision to proceed with this equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. will be dependant upon the ultimate valuation, satisfactory due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the transfer of the BioProcess Group into a wholly-owned subsidiary of SunOpta. The securities to be sold in the financing will not be registered under the United States Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements thereunder. About the SunOpta BioProcess Group The SunOpta BioProcess Group is a leader in the design, construction and optimization of biomass conversion equipment and facilities. With over 30 years experience in delivering biomass solutions worldwide, the BioProcess Group combines its application expertise with innovative technologies to produce cellulosic ethanol, cellulosic butanol bu·ta·nol n. Either of two butyl alcohols derived from butane and used as solvents and in organic synthesis. [butan(e) + -ol1. , xylitol xylitol /xy·li·tol/ (zi´li-tol) a five-carbon sugar alcohol derived from xylose and as sweet as sucrose; used as a noncariogenic sweetener and also as a sugar substitute in diabetic diets. , and dietary fiber dietary fiber n. Coarse, indigestible plant matter, consisting primarily of polysaccharides, that when eaten stimulates intestinal peristalsis. for human consumption; and is currently supplying equipment and technology to three cellulosic ethanol projects in the U.S., Spain, and China. About SunOpta Inc. SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; the Opta Minerals Group, a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Group which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector. Forward-Looking Statements Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements include, but are not limited to references to business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized. |
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