TORONTO, ON / ACCESSWIRE / May 5, 2015 / The Canadian Bioceutical Corporation ("BCC") (TSX VENTURE: BCC.V) is pleased to announce that, through its wholly-owned subsidiary CGX LifeSciences Inc., it has entered into an international conditional sales agreement for its newly acquired FertaMax(TM) product line.
BCC's Chief Marketing Officer, Michael Arnkvarn states, "We have been working diligently on this project for several weeks. Canadian natural health products are highly-valued internationally due to our high quality production standards and materials control. Our agreement is conditional upon our product being registered with the Ministry of Health of the United Arab Emirates which simply requires an audit of the Canadian production facilities by one of their authorized inspectors. This audit has been initiated and we do not foresee any issues with our contract manufacturer which is already cGMP approved by Health Canada."
BCC will issue a subsequent news release to update the marketplace in relation to the status of the aforementioned condition.
"The commercial terms and conditions of the export transaction have been agreed upon by both parties," confirms Arnkvarn, "and we expect to deliver the first order during our second fiscal quarter. Confidentiality agreements prevent us from naming the purchaser, but the group currently provides health products to a network of 70,000 pharmacies in several international markets. This customer typically re-orders 3-5 times per year and we expect that this FertaMax arrangement alone should generate in excess of CDN $1 million in new revenue during the next year."
Scott Boyes, President & CEO of BCC commented, "although management is focussed on entering into the medical marijuana industry and developing cannabis-based nutraceuticals, FertaMax has broadened our product offerings and provides another positive step to building shareholder value. We are excited that this deal will increase our revenue and should lead to similar export opportunities for this and other products developed by Canadian Bioceutical and its subsidiaries, particularly for CinG-X(TM) and for our cannabidiol/Psorberine(TM) topical cream currently in development."
FertaMax (www.fertamax.com) is a multi-vitamin supplement designed to assist couples conceive and have healthy pregnancies that result in healthy babies. FertaMax has an all-natural, gender-specific formulation containing the ideal ingredients recommended to bring prospective parents to the peak of their fertility. FertaMax will also help to keep mothers' bodies healthy during pregnancy and assist their bodies to recover after giving birth.
About The Canadian Bioceutical Corporation
BCC, formerly Allegiance Equity Corporation, is an Ontario corporation that, for over two decades has been developing unique standardized mass-market nutraceutical products for the treatment of common ailments where present pharmaceutical treatments and over-the-counter products fail to meet the needs of patients. BCC has targeted markets having clearly identified product deficiencies and dissatisfied consumers afflicted with a variety of medical conditions. BCC obtains regulatory approval and patents for these unique compounds and formulations and may produce and distribute or license its products for royalty revenues.
BCC's principal brands are CinG-X(TM), Relieva(TM), Psorberine(TM) and FertaMax(TM). The company, through its subsidiary, BioCannabis Products Ltd., and subsequent to receiving its MMPR license from Health Canada and the potential revision of these regulations, intends to develop and market a series of new cannabis-based branded medicinal products to address this rapidly-evolving market.
Additional details in relation to BCC's plan to enter into the medical marijuana sector may be found in the company's two News Releases of January 7, 2015.
CSA Investor Caution
Investors should be aware that companies cannot legally conduct a medical marijuana business without a license from Health Canada and that there is significant time and cost required to obtain such a license. As a publicly-traded company publicizing its intention to enter the medical marijuana industry, BCC urges potential investors in any company in this sector, to become familiar with the required resources and the related risks, costs implications and time required before a company will be able to begin licensed operations. There is no assurance that any company announcing its intent to enter the medical marijuana industry will be successful in obtaining a license or in creating shareholder value.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, the Transaction and BCC's objectives and intentions. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in BCC's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although BCC believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, BCC disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
For further information please contact:
Scott Boyes, President and CEO
scott@canadianbioceutical.com
(416) 840-4703
SOURCE: The Canadian Bioceutical Corporation
