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Burcon Successfully Scales Commercial Production of 95% Hempseed Protein Isolate

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2024) - Burcon NutraScience Corporation (TSX: BU) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, proudly announces the successful completion of end-to-end validation trials and the start of commercial-scale production for the world's first high purity 95% hempseed protein isolate.

Burcon has achieved a significant milestone with the successful scale-up of its groundbreaking hempseed protein isolate at its partner manufacturer's production facility. From its production runs, Burcon produced high-quality, commercial saleable quantities of its 95% hempseed protein isolate to fulfill initial customer orders.

"This is a watershed moment for Burcon and a testament to the dedication and expertise of our talented team," said Kip Underwood, Burcon's chief executive officer. "With our capital-light approach, we are rapidly bringing our next generation, best-in-class proteins to market. As we transition into a revenue-generating company, we expect to start commercial sales and capture value for our shareholders."

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Anticipated commercial sales and further production campaigns of Burcon's hempseed protein are slated for the first half of 2024 to meet growing customer demand. With a proven supply chain source, Burcon believes it is strategically positioned not only to tap into a multi-billion-dollar addressable market but also to launch additional protein products, advancing its Burcon 2.0 business plan toward profitability.

"There is strong customer demand for high-quality hempseed protein with exceptional taste, color and functionality," said Marc van Burck, HPS's chief executive officer. "We believe that the 95% hempseed protein isolate is a game changer that can tap into a burgeoning hemp foods market. We look forward to providing our customers with this truly innovative product."

For inquiries regarding product samples and information, prospective customers are encouraged to directly reach out to HPS Sales Team here.

About HPS Food and Ingredients Inc.

HPS Food & Ingredients is a global leader in value-added processing of plant proteins, seeds & grains, oils, flours, fibers and starches, for premium food markets and food companies around the globe. We produce nutritious, North American grown non-GMO, gluten-free ingredient products at our dedicated production facilities in Manitoba, Canada. We provide quality ingredient solutions for the global food marketplace. For more information, visit hpsfood.ca.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed 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 key player in the rapidly expanding plant-based market. Supporting the growing trend towards a plant-based diet, 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 does not accept responsibility 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 could cause actual results, performances, 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 "anticipate," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. 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 financing cost-effectively; potential changes of government regulations; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2023 and its other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only 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. Although Burcon believes 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.

Industry and Investor Contact
Paul Lam
Director, Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.ca www.burcon.ca

Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202876