Press releases
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August
19
Advitech signs European Distributor for Hydresia® Ingredients
QUEBEC CITY, QUEBEC - August 19, 2010 - Advitech Inc. ("Advitech") (TSX Venture Exchange: AVI) is pleased to announce that it has entered into an agreement with SEPPIC S.A. ("SEPPIC") for the distribution of subsidiary Botaneco's Hydresia® product line in the European personal care market.
"Global expansion is a key component of our value proposition and growth strategy," said Advitech President and CEO Michael Stangel. "We are pleased that SEPPIC will be representing us and anticipate that together, we will significantly grow European sales in line with our objectives."
Dr. Jack Guth, Vice President Research & Development adds that "Hydresia® ingredients are uniquely poised to take advantage of a European market where the percent share of natural and organic cosmetics is rising steadily. Oleosomes are EcoCert® compliant, have a true sustainability message, and provide a myriad of multi-functional attributes."
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July
21
Advitech Announces Closing of Private Placement of CAN $1.5 Million
Quebec City, July 21, 2010 - Advitech Inc. ("Advitech" or the "Corporation") announces it has completed today the previously announced non-brokered private placement with AgeChem Venture Fund, LP ("AgeChem") and Avrio Ventures Limited Partnership ("Avrio"), each an insider of the Corporation, for total gross proceeds of $1,500,000 (the "Private Placement"). As part of the Private Placement, each of AgeChem and Avrio have acquired from the Corporation a total of 15,000,000 units of Advitech (the "Units") at a price of $0.05 per Unit for respective aggregate amounts of $750,000. Each Unit is composed of one common share of Advitech (the "Common Shares") and one Common Share purchase warrant (the "Warrants"). Each Warrant entitles its holder to purchase one Common Share at a price of $0.10 until the date that is twenty four (24) months after the date of issuance of the Warrants. The Common Shares comprised in the Units and the Common Shares underlying the Warrants issued as part of the Private Placement are subject to a four-month statutory hold period. The Corporation will use the proceeds of the Private Placement for its working capital and general corporate purposes.
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July
15
Advitech Announces a Proposed Private Placement of CAN $1.5 million
QUEBEC CITY, QUEBEC - July 15, 2010 - Advitech Inc. ("Advitech") (TSX Venture Exchange: AVI) announces its intention to complete a non-brokered private placement with AgeChem Venture Fund, LP ("AgeChem") and Avrio Ventures Limited Partnership ("Avrio"), each an insider of the Corporation, for total gross proceeds of $1,500,000 (the "Private Placement"). As part of the Private Placement, each of AgeChem and Avrio will acquire from the Corporation a total of 15,000,000 units of Advitech (the "Units") at a price of $0.05 per Unit for respective aggregate amounts of $750,000. Each Unit will be composed of one common share of Advitech (the "Common Shares") and one Common Share purchase warrant (the "Warrants"). Each Warrant will entitle its holder to purchase one Common Share at a price of $0.10 until the date that is twenty four (24) months after the date of issuance of the Warrants.
The Corporation will use the proceeds of the Private Placement for its working capital and general corporate purposes.
Closing of the Private Placement is subject to customary closing conditions including the approval of TSX Venture Exchange Inc. The closing of the Private Placement is expected to take place on or around July 21, 2010.
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June
28
Advitech Validates Oleosome Based Sunscreen
QUEBEC CITY, QUEBEC - June 28, 2010 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) is pleased to announce today that its oleosome based sunscreen formulation, in a recent sunscreen panel test, exhibited far higher in-vivo SPF values(30+) than was expected. The 20 person panel (which is required by the FDA before an SPF value can be claimed) builds on previous work carried out with smaller panels. The prototype formulation which tested at SPF30+, contained a total of 2.5% active ingredients and represents significant potential cost savings compared to marketed formulations of similar SPF 30 rating, which typically contain much higher actives levels (15-20%). Dr. Jack Guth, Vice President R&D notes that "because the larger panel size allows us to meet the requirements of the FDA sunscreen monograph, finished goods manufacturers can now market our oleosome based sunscreen formulation and claim SPF 30 protection". In addition to potential cost savings, there may be safety implications to using formulations with reduced actives.
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May
07
Advitech announces NPA approval of HYDRESIA ingredients
QUEBEC CITY, QUEBEC - Advitech Inc. ("Advitech" ) (TSX Venture Exchange: AVI) today announces that it's subsidiary Botaneco Specialty Ingredients Inc. ("Botaneco" ) has received ingredient certification from the Natural Products Association (NPA) for HydresiaTM SF2, HydresiaTM G2, and HydresiaTM Dulcé. The NPA is North America's largest and oldest non-profit organization dedicated to the natural products industry. The association represents more than 10,000 retailers, manufacturers, wholesalers and distributors of natural products, including health and beauty aids.
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April
14
Advitech Announces Changes in Officers and Directors
QUEBEC CITY, April 14 /CNW Telbec/ - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) is pleased to announce the appointment of Mr. Christian Wutzke as Vice President and Chief Financial Officer...
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April
12
Advitech announces the hiring of Carl Cappabianca as Director, Sales and Marketing.
QUEBEC CITY, QUEBEC - April 12, 2010 - Advitech Inc. ("Advitech") announces today the hiring of Carl Cappabianca as Director, Sales and Marketing. Carl will concentrate on sales, marketing and business expansion activities with particular focus on the continued strong growth of the Oleosome technology of Advitech's subsidiary, Botaneco Specialty Ingredients Inc. ("Botaneco"). Carl was most recently at Consumer Product Testing Company where he headed sales, marketing and new business development leading these efforts in their six testing disciplines. Previously, Carl was with Jeen International and Lonza where he served primarily as global leader of their Personal Care business units. He has also held numerous senior management sales, marketing, operations and business development roles in Personal Care, Industrial and related segments with Honeywell and Ashland Chemical.
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March
10
Health Canada Issues an NPN to Advitech for DERMYLEX
TSX VENTURE EXCHANGE: AVI For immediate release
This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
QUEBEC CITY, QUEBEC - March 10, 2010 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) announces today that the Natural Health Products Directorate (NHPD) has issued to Advitech, on March 8, 2010, a Natural Product Number (NPN) for one of its main products, XP-828L/Dermylex. The issuance of a product licence for XP-828L/Dermylex means that the product has been assessed by Health Canada and has been found to be safe, effective and of high quality under its recommended conditions of use.
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February
17
ADVITECH TO CONSOLIDATE OPERATIONS
TSX VENTURE EXCHANGE: AVI For immediate release
This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
QUEBEC CITY, QUEBEC - February 17, 2010 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) announces today its intention to close its office on boulevard Lebourgneuf in Quebec City. Advitech's business operations will be transferred to its subsidiary in Calgary, Botaneco Speciality Ingredients Inc. ("Botaneco"). Following the merger of Advitech and Botaneco in November 2009, this is a significant step towards integrating and optimizing operations of the combined entity.
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January
22
ADVITECH ANNONCES THE UPCOMING DEPARTURE OF ITS CFO
TSX VENTURE EXCHANGE: AVI For immediate release
This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States.
QUEBEC CITY, QUEBEC - January 22, 2010 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) today announces that Christian Labbé, Vice-President, Chief Financial Officer and Secretary of the Corporation, informed Advitech about its intention to leave the Corporation to pursue other opportunities. His departure will be effective on March 31, 2010.
