Investor Group Sees Burcon Technologies as a Tool to Strongly Disrupt the Protein Market

Vancouver, British Columbia–(Newsfile Corp. – November 20, 2024) – Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) (“Burcon” or the “Company”), a global technology leader in the development of protein for food and beverage based proteins company is pleased to announce that it has formed an alliance with a strategic investor group led by a Burcon board member to acquire and operate a commercial protein production facility. The parties are in the process of negotiating the terms of the alliance. If successful, Burcon will become the operator of the facility and expand its manufacturing capabilities to include Burcon’s entire portfolio of best-in-class plant-based protein ingredients.

“This is a truly transformative opportunity for Burcon that will accelerate our capital-to-light strategy,” said Kip Underwood, Burcon’s CEO. “With the expanded capacity and full control of a protein production facility, we can bring our entire suite of unique protein ingredients to market. We are excited about this alliance and deeply appreciate the trust placed in us. This strategic alliance marks a significant step forward as we bring our technologies to market .”

Highlights of Alliance Intent

• The strategic investor group that will finance and purchase the protein production facility;
• Burcon will be the operator of the acquired facility;
• Burcon will launch and grow its entire portfolio of protein technologies;
• The acquisition is expected to be completed in the first quarter of 2025; And
• The production facility is expected to be operational in the first half of 2025

Strategic Alliance and Protein Production Facility

The investor group has strong confidence in the future of plant-based proteins and believes Burcon technologies can lead the plant-based food revolution.

The investor group plans to finance and acquire an existing protein production facility, with Burcon assuming the role of operator. The group is in late-stage discussions on multiple potential acquisition targets, each of which is a commercial facility of the size and scale to enable the full implementation of Burcon’s growth strategy. The acquisition of the selected target facility is expected to be completed in the first quarter of 2025.

Strong Sales Funnel and New Product Launches

Burcon is currently building a strong sales pipeline with more than 80 potential customers evaluating its protein ingredients. The company has successfully launched and commercially produced hemp and canola protein isolates; and additional protein technologies are ready for commercial scale-up. After receiving commercial samples of Burcon’s hemp and canola proteins, some potential customers moved on to late-stage product trials. With a manufacturing facility, Burcon envisions accelerating new protein launches and streamlining the sales process to capture a larger share of the multibillion-dollar protein ingredients market.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for food and beverage. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is committed to delivering next-generation, best-in-class protein solutions, positioning itself as a major player in the rapidly expanding plant-based market. Supporting the growing trend towards plant-based nutrition, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. For more information, visit: www.burcon.ca.

Forward-Looking Information Cautionary Statement

The TSX has not reviewed, and is not responsible for, the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that may cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as “estimate”, “intend”, “intend”, “plan”, “target”, “project”, “estimate”, “expect”, “believe”. , “future”, “probably”, “may”, “should”, “could”, “will” and similar references to future periods. All statements contained in this release are forward-looking statements, other than statements of historical fact. 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. Important factors that could cause actual results to differ materially from Burcon’s plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry, our future business development, financial condition and results of operations and our ability to obtain affordable financing; possible changes in government regulations; Other risks and factors detailed herein in Burcon’s annual information form for the year ended March 31, 2024 and in Burcon’s filings from time to time with securities regulators and exchanges, including the section entitled “Risk Factors” in other. Public filings with Canadian securities regulators on SEDAR+ are available at: www.sedarplus.ca. This list does not include factors that may affect the Company’s forward-looking statements or information. Any forward-looking statements or information speak only as of the date on which they are made, and Burcon disclaims any intention or obligation to update any forward-looking statements, except as required by applicable securities laws. new information, future events or otherwise. Although Burcon believes that the assumptions made in forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and therefore investors should not rely on such statements.

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