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SunOpta Inc. Message Board

  • eskota2005 eskota2005 Nov 28, 2006 8:01 AM Flag

    BioProcess News

    "SunOpta Considers an Equity Financing for Its BioProcess Group
    TORONTO--(BUSINESS WIRE)--Nov. 28, 2006--SunOpta Inc. (NASDAQ:STKL) (TSX:SOY) today announced that it has engaged two investment banks 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 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 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 will be dependant upon the ultimate valuation, satisfactory due diligence 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, xylitol, and dietary fiber for human consumption; and is currently supplying equipment and technology to three cellulosic ethanol projects in the U.S., Spain, and China."

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    • Didn't Goldman invest 30 million in Iogen? Seems to me SunOpta shouldn't have a hard time getting 30 million for a small fraction of the bioprocess unit given the success it has had at the demonstration plant in China.... :)

    • Didn't Goldman invest 30 million in Iogen? Seems to me SunOpta shouldn't have a hard time getting 30 million for a small fraction of the bioprocess unit given the success it has had at the demonstration plant in China.... :)

    • Expect this money to be coming from the Universities and or some seriously wealthy people. I still value this stock at 15-16 bucks, but don't be shocked if the placement is between the 6 month low and where many of us entered.

      I am glad stkl is getting the attention it deserves. The food group is why I bought the stock, but I am more than happy to get royaltie$ and a $pin off of the ethanol group.

      That soda company with some Pep has a product placement at Trader's with it's acquisition of Naked juice. I think they finally realize that with 50% growth in stkl's food business, they bettter do something. I don't expect the gain in sales from Naked to offset the losses in revenue in water sales to Pure Life.

      I went to Costco, and I am comfortable that Kirk's brand of juice and soy are stkl. Kirk's juice is labeled Newman's and with that I speculate that all Newman's juices are stkl.

    • Eskota2005,

      Awfully quiet this morning, considering the news. Almost makes me think that SOMEONE, or some GROUP, is waiting to "pump" this news until after they have bought a truckload of shares this morning. :-)

 
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