Business
SunOpta Considers an Equity Financing for Its BioProcess Group
SunOpta Considers an Equity Financing for Its BioProcess Group.
About this update from Sunopta Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, November 28 /CNW/ - SunOpta Inc. (NASDAQ:STKL) (TSX:SOY) today\nannounced that it has engaged two investment banks as agents with an intention\nof raising up to $30,000,000 U.S. in equity capital in a private placement for\na minority position within the SunOpta BioProcess Group. SunOpta believes this\nis the time to seek investment partners for its BioProcess Group due to\nincreasing interest it is seeing in cellulosic ethanol and its BioProcess\ntechnology, which SunOpta believes makes the production of cellulosic ethanol\ncommercially possible. The proceeds of the financing will be used to invest in\ncellulosic ethanol production and to continue development of expanded process\napplications utilizing the Group's technology and expertise in providing\nintegrated bioprocess solutions. The decision to proceed with this equity\nfinancing will be dependant upon the ultimate valuation, satisfactory due\ndiligence and the transfer of the BioProcess Group into a wholly-owned\nsubsidiary of SunOpta.\n\nThe securities to be sold in the financing will not be registered under\nthe United States Securities Act of 1933 or any state securities laws and may\nnot be offered or sold in the United States absent registration or an\napplicable exemption from the registration requirements thereunder.\n\nAbout the SunOpta BioProcess Group\n\nThe SunOpta BioProcess Group is a leader in the design, construction and\noptimization of biomass conversion equipment and facilities. With over 30\nyears experience in delivering biomass solutions worldwide, the BioProcess\nGroup combines its application expertise with innovative technologies to\nproduce cellulosic ethanol, cellulosic butanol, xylitol, and dietary fiber for\nhuman consumption; and is currently supplying equipment and technology to\nthree cellulosic ethanol projects in the U.S., Spain, and China.\n\nAbout SunOpta Inc.\n\nSunOpta Inc. is an operator of high-growth ethical businesses, focusing\non integrated business models in the natural and organic food markets. The\nCompany has three business units: the SunOpta Food Group, which specializes in\nsourcing, processing and distribution of natural and organic food products\nintegrated from seed through packaged products; the Opta Minerals Group, a\nproducer, distributor, and recycler of environmentally friendly industrial\nmateri...