Press releases
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June
30
ADVITECH AND NATUNOLA ENTER INTO A MERGER
QUEBEC CITY, QUEBEC AND WINCHESTER, ONTARIO – June 30, 2011 -
Advitech Inc. (“Advitech” or the “Corporation”) (TSX Venture Exchange: AVI) and Natunola Health Biosciences Inc. (“Natunola”) (TSX Venture Exchange: NHI) are pleased to announce that, following their April 8, 2011 press release, they have entered into a merger agreement to combine the business of both companies (the “Merger Agreement”) with the intent of creating a leading company in personal care and health food ingredients.Pursuant to the Merger Agreement, Advitech will acquire all of the issued and outstanding shares of Natunola by way of an amalgamation (the “Amalgamation”) between Natunola and 7894716 Canada Inc., a wholly-owned subsidiary of Advitech. The Natunola shareholders will receive common shares of Advitech based on a ratio of 4.75 common shares of Advitech (or 1.1875 common shares following a proposed 4 to 1 consolidation of Advitech shares (see below)) for each common share of Natunola. All outstanding options to acquire Natunola common shares which are not exercised prior to the closing of the transaction will, subject to TSX Venture Exchange (“TSX-V”) policies, be exchanged for Advitech options on the same terms. Following the Amalgamation, the Natunola shares will be delisted from the TSX-V and Natunola will continue its activities as a wholly-owned subsidiary of Advitech...
Read more in the attached Press Release.
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June
09
ADVITECH ANNOUNCES STOCK OPTION GRANTS
QUEBEC CITY, QUEBEC – June 9, 2011 - Advitech Inc. (“Advitech” or the “Corporation”) (TSX Venture Exchange: AVI) announces that it has granted today a total of 638,500 stock options to an officer.
Each stock option allows the holder thereof to acquire one common share of Advitech until June 9, 2016 for a price of $0.10 per share. The options are governed by the stock option plan of the Company and will vest in three instalments on the first, second and third anniversary of their date of grant.
About Advitech.Advitech, which includes its subsidiary Botaneco Specialty Ingredients Inc. since November 20, 2009, is a health sciences and technology company developing, manufacturing and marketing proprietary natural ingredients and formulations for oral and topical applications that have been clinically proven to be safe and effective for improving skin health and well being. The Corporation's products are based on three technological platforms which are: i) a superior multi-functional emulsification delivery system derived from plant seed oleosomes for formulation application in the topical cosmetic, OTC, Rx and natural personal care specialty ingredient markets, ii) XP-828L for immune mediated inflammatory disorders, and iii) IM for anti-aging and wound healing. Advitech produces Hydresia®, a natural plant derived specialty ingredient which offers immediate moisturization advantages, formulating cost savings and excellent product aesthetics in a variety of product applications, Dermylex® for the treatment of mild-to-moderate psoriasis, and NudremylTM which acts on skin reconstruction, cellular regeneration and skin structure. More information is available and can be accessed at www.advitech.com and www.botaneco.ca.
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April
26
Advitech Announces Bridge Financing
TSX VENTURE EXCHANGE: AVI
QUEBEC CITY, QUEBEC – April 26, 2011 - Advitech Inc. (“Advitech” or the “Corporation”) (TSX Venture Exchange: AVI) is pleased to announce it has completed a bridge financing (the “Bridge Financing”) for an aggregate amount of $400,000 with AgeChem Venture Fund L.P. (“AgeChem”) and Avrio Ventures Limited Partnership (“Avrio”) which respectively hold 45,474,346 and 30,854,167 common shares in the capital of Advitech representing respectively 44% and 30% of the total number of issued and outstanding common shares of the Corporation.
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April
11
Advitech Inc. and Natunola Health Biosciences Inc. Enter Discussions to Create a Leading Company in Personal Care and Health Food Ingredients
Advitech Inc. (TSX-V: AVI) (“Advitech”) and Natunola Health Biosciences Inc. (TSX-V: NHI) (“Natunola”) are pleased to announce that they have entered into discussions, under a letter of intent, with the objective to create a leading company in personal care and health food ingredients (the “Resulting Entity”).
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March
31
ADVITECH INC RECEIVES $1.4 M IN FUNDING FROM AVAC Ltd
March 31, 2011 - Advitech, Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) today announced that it has reached an agreement with AVAC Ltd for up to $1.4 million in funding for its subsidiary Botaneco Specialty Ingredients, Inc and the development of next generation, plant seed derived Hydresia® oleosome products and implementation of production capacity initiatives to scale up manufacturing operations. The funding will be paid in installments upon achievement of specific milestones over a 24 month period.
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February
08
KDC and Botaneco Collaborate to Address Needs of the USDA Organic Personal Care Market
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 08, 2011 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) is pleased to announce a formal partnership between Knowlton Development Corporation ("KDC"), a leading contract manufacturer serving North America's most recognized personal care brands, and Advitech's subsidiary, Botaneco Specialty Ingredients Inc. ("Botaneco"). Resulting from investment by KDC and Botaneco, Botaneco is launching Hydresia® O - a USDA National Organic Program (NOP) certified emulsifier based on Botaneco's proprietary Oleosome technology. As a Quality Assurance International (QAI) certified processor and handler of USDA Organic personal care products, KDC will be the exclusive manufacturer of Hydresia® O formulations in this category as pertaining to their strategic customer base of national brand owners.
"KDC is a natural partner for Botaneco in this venture, having continuously invested in the R&D and manufacturing capabilities to develop and manufacture leading USDA-certified personal care products since 2009, they have the ability to take this category to the mass market. With this agreement Botaneco and KDC offer a joint turnkey solution that we anticipate will have a meaningful and innovative impact on the USDA NOP personal care market" stated Botaneco President and CEO Mike Stangel.
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November
23
Advitech Announces Stock Option Grants
Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) announces that it has granted today a total of 300,000 stock options to an officer and director.
A number of 200,000 stock options were granted to the officer while 100,000 stock options were granted to the director. Each stock option allows the holder thereof to acquire one common share of Advitech until November 23, 2015 for a price of $0.10 per share. The options are governed by the stock option plan of the Company and will vest in three equal yearly instalments on the first, second and third anniversary of their date of grant.
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September
23
Advitech Announces UVA Test Results on Oleosome-Based Sunscreen Formulation
QUEBEC CITY, QUEBEC - September 23, 2010 - Advitech Inc. ("Advitech" or the "Corporation") (TSX Venture Exchange: AVI) is pleased to announce today that a key UVA testing study has been completed on its oleosome-based sunscreen prototype formulation.
Previous evaluation of this prototype formulation at an independent lab demonstrated the ability of the Hydresia® oleosomes to enhance SPF-UVB ratings. In-vivo SPF results-obtained on a 20 person panel per the FDA final monograph method-yielded an SPF of 30+ for this formulation containing only 2.5% total sunscreen chromophore activity. This level of SPF-UVB protection would typically require well over 15% total chromophore in a traditional formulation matrix.
The in-vivo UVA study was performed via the widely-accepted Japan Cosmetic Industry Association (JCIA) method using the Persistent Pigment Darkening (PPD) response. The study results-obtained on the required 10 person panel-showed that the formulation containing 2% UVB absorber and 0.5% UVA absorber exhibited unexpectedly high UVA protection. A UVA-PF value of 10.7 was achieved with the PPD response compared to the JCIA standard containing over 8% total UVA/UVB chromophore that measured 4.3. This places the prototype formulation in the highest category of UVA protection possible for labeling purposes.
Suncare products that are intended to prevent sunburn or the short-term effects of sun exposure tend to focus on UVB, thus high SPF values are desired. However, protecting the skin against UVA light is equally, if not more important, as it is responsible for premature aging. UVA protection in sunscreen-focused products is critical and is becoming increasingly important as sun protection actives are added to various daily wear products such as skin lighteners, exfoliants, and moisturizers.
Results of the previous UVB and just-completed UVA testing demonstrate the ability of Hydresia® oleosome technology to enhance both the SPF and UVA-PA ratings of sunscreen product formulations. Dr. Jack Guth, Vice President R&D, notes that "the multi-functionality and aesthetic benefits of Hydresia® oleosome technology allows for its use not only in sunscreen products but also in a wide range of daily wear products requiring various levels of sun protection".
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September
08
Dave Guebert Joins Advitech's Board of Directors
Quebec City, September 8, 2010 - Advitech Inc. (TSX-V: AVI) ("Advitech") is pleased to announce that Mr. David D. Guebert, CA, CPA has been appointed to its Board of Directors. Mr. Guebert replaces Mr. Pierre Labbé, CA, who is leaving the Board of Directors of Advitech after serving for more than three years. Mr. Guebert will also sit on the Audit Committee of Advitech and act as its Chairman.
Mr. Guebert is a Chartered Accountant and a Certified Public Accountant with 30 years of experience in finance and accounting and over 20 years' experience as Chief Financial Officer of public and private companies in the energy and technology sectors. Mr. Guebert is currently the Vice President, Finance and Chief Financial Officer of Primary Corp., a diversified venture capital and merchant banking firm focused on the small cap market and of Cell-Loc Location Technologies Inc., an intellectual property company that has a proprietary technology designed for deployment of wireless data transmission and location based services.
"We are pleased to welcome Mr. Guebert to Advitech's Board", said Mr. Aki Georgacacos, Chairman of the Board of Directors of Advitech. "Mr. Guebert's impressive track record as a seasoned executive of public and private companies will be a significant asset as we look forward to his valuable guidance in financial reporting, management and business matters. On behalf of the Board, I would like to thank Mr. Labbé for his dedication and contribution to Advitech over the past years."
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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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