As Canada's largest financier of clean technologies they provide insurance and financial services, bonding products and small business solutions to Canadian exporters and investors and their international buyers while adhering to a commitment to sustainable and responsible business. Vancouver, British Columbia--(Newsfile Corp. - May 4, 2020) - Burcon NutraScience Corporation (TSX:BU) (OTCQB:BUROF) ("Burcon"), a global technology leader in the development of plant-based proteins, is pleased to announce that its joint venture company, Merit Functional Foods Corporation ("Merit Functional Foods" or "Merit") has secured a debt financing package of up to $85 million of capital from a syndicate of lenders including Export Development Canada, Farm Credit Canada and the Canadian Imperial Bank of Commerce. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. Please check your email for further instructions. Article content. The production facility is expected to be completed by the fourth quarter of 2020. Forward-Looking Information Cautionary Statement. "We are thrilled with Merit's decision to expand production capacity at Merit's state-of-the-art plant protein production facility currently under construction," said Johann F. Tergesen, Burcon's president and chief executive officer, adding, "We are equally thrilled that Merit has arranged such a substantial debt funding package.". WINNIPEG, Manitoba — Merit Functional Foods and its technology partner Burcon NutraScience are pleased to announce they have entered into a joint development agreement (JDA) with Nestlé. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. MarketsFarm — Somewhere outside Winnipeg, a new pea and canola processing plant is scheduled to be in production by August 2020. 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. The Company provides appetizer, bacon, beef, bread, cheese, chile and peppers, dessert, sea food, and tortillas. Farm Credit Canada (FCC) is also a federal Crown corporation and Canada's leading agriculture and food lender, with a loan portfolio of more than $38 billion. Burcon is a global technology leader in the development of plant-based proteins. See the complete profile on LinkedIn and discover Ryan’s connections and jobs at similar companies. Construction is underway on Merit Functional Foods’ cutting-edge pea and canola protein production facility. View Ryan Bracken’s profile on LinkedIn, the world’s largest professional community. When visitors leave comments on the site we collect the data shown in the comments form, and also the visitor’s IP address and browser user agent string to help spam detection. 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. Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with disruptive protein ingredient solutions that offer unmatched purity, exceptional taste, and excellent solubility. The company's filing status is listed as Active and its File Number is 1141008-3.The company's principal address is 2200 - 201 Portage Avenue, Winnipeg, MB R3B 3L3 CA. 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 building a 94,000 square foot production facility in Winnipeg to produce high quality pea and canola proteins. In 2019, Burcon established Merit Functional Foods Corporation in a joint venture with three veteran food industry executives. 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. To facilitate the financing, Burcon has provided a short-term letter of credit in the amount of $6.5 million, which will remain in place until no later than September 30, 2020, and also provided a $4 million guarantee of Merit's debt obligations. Everything you need to know about the market - quick & easy. As an alternative to the large national food distributors, we aim to enhance your business through strong personal relationships, competitive pricing, and … EDC's mandate is to support and develop Canada's export trade by helping Canadian companies respond to international business opportunities including those in the cleantech and agriculture sectors. Merit Foods aims to be the best local independent family owned full-line food Distribution Company in Arizona. The principals are Barry Tomiski from Winnipeg MB and Ryan Bracken from Winnipeg MB. MERIT FUNCTIONAL FOODS. There are 3 companies that have an address matching 98 Vadeboncoeur Drive Winnipeg, MB R2n 4p8. Dive Brief: U.S.-based Bunge is investing 30 million Canadian dollars ($22.8 million) in Canada-based Merit Functional Foods, giving it a minority stake in the company, according to a … Merit Functional Foods’ new production facility is under construction in Winnipeg, Manitoba, Canada. Merit Functional Foods has announced its new partnership with ternational agribusiness and food company Bunge Limited. Investor ContactPaul LamManager, Business DevelopmentBurcon NutraScience CorporationTel (604) 733-0896, Toll-free (888) 408-7960plam@burcon.ca www.burcon.ca, Media Contact:Steve Campbell, APRPresidentCampbell & Company Public RelationsTel (604) 888-5267TECH@CCOM-PR.COM, To view the source version of this press release, please visit https://www.newsfilecorp.com/release/55273, Thank you for subscribing! This financing will support Merit Functional Foods' growth plans and allow for expansion of their pea and canola protein production capacity. It is claimed to be the world’s first commercial canola-protein manufacturing plant. Subscribe for the vegconomist-newsletter and regularly receive the most important news from the vegan business world. 1-877-440-Zing or email us at 1-877-440-ZING or email us at 1-877-440-ZING or email us at 1-877-440-ZING email! 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