Lender must have confidence- on April 7, 2016 pursuant to which it will issue a convertible note (the “Note”) to Large Scale Investments Limited (the “Lender”), a wholly-owned subsidiary of ITC Corporation Limited (“ITC”), for the principal amount of $2,000,000 (the “Principal Amount”).
Funding by the Lender and the issuance of the Note is expected to occur after May 4, 2016 but no later than May 13, 2016. The Note will bear interest at a rate of 8% per annum, calculated daily, compounded monthly. Interest will accrue on the Principal Amount and will be payable on the earlier of three years from the issue of the Note, the occurrence of an event of default as set out in the Note, or voluntary prepayment by Burcon (the “Maturity Date”).
The Lender may convert the Principal Amount in whole or in part into common shares in the capital of Burcon (“Common Shares”) at any time commencing on or after July 1, 2016 and up to and including the Maturity Date. The conversion price is $4.01 per Common Share, which represents a premium of approximately 24%over the volume weighted average trading price of the Common Shares on the Toronto Stock
Commercial ADM is on time as stated months ago in company PR (mid-2016)!
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Consumers worldwide are seeking great-tasting beverages that deliver nutritional benefits for their increasingly active lifestyles. At Archer Daniels Midland Company, our line of CLARISOY™ isolated soy proteins is designed to meet the global demand for nutritional beverages in a refreshing way.
ADM's line of CLARISOY™ isolated soy proteins is the only line of transparent soy proteins. Our line includes a range of products for both low and neutral pH applications allowing you to easily include up to 10 grams of Clarisoy per serving. Developing great tasting nutritional beverages requires balance and precision. Flavor, viscosity, shelf life, cost, and nutritionals are variables that need to fuse together effectively to produce the perfect beverage. CLARISOY™ and ADM’s expertise can help formulate the perfect unison
Low pH Beverages •CLARISOY™100 is specifically developed for use in transparent beverages with pH levels below 4.0. •Clarisoy 150 isolated soy protein is for use in beverage systems with a pH of less than 4.0 where a cloud system is required.CLARISOY™100 is 100% soluble in low pH applications. •Extremely heat stable, CLARISOY™ requires no homogenization or stabilizers in low pH beverages. •Well suited for sports nutrition beverages, citrus-based drinks, fruit-flavored beverages, powdered beverage mixes, fruit juice blends and fortified waters.
Neutral pH Beverages •Clarisoy 150, when neutralized to pH 7.0 or higher allows for greater use of soy protein. •Well suited for neutral beverages like meal replacement and weight management products. •Exceptionally clean flavor and smooth mouth-feel pairs perfectly with flavors like vanilla, strawberry and chocolate.
ADM signed an agreement with Burcon NutraScience to manufacture, market, and sell CLARISOY™ isolated soy protein.
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