Burcon NutraScience Corp 6-K, filed Jul 28, 2022
Burcon NutraScience Corp (BRCNF)
About this 6-K
Burcon NutraScience Corp filed this 6-K on July 28, 2022.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2022
Commission File Number: 001-35289
Burcon NutraScience Corporation
(Translation of registrant's name into English)
1946 West Broadway Vancouver, British Columbia, Canada V6J 1Z2
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
[ x ] Form 20-F [ ] Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED HEREWITH
Exhibits
| Exhibit | Description | |
| 99.1 | News Release dated July 28, 2022 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BURCON NUTRASCIENCE CORPORATION | ||
| (Registrant) | ||
| Date: July 28, 2022 | By: | /s/ Jade Cheng |
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| Jade Cheng | ||
| Title: | Chief Financial Officer | |
News Release
Burcon JV, Merit Functional Foods Achieves Significant Innovation in a
100% Protein-Based Solution to Replace Methylcellulose in Meat
Alternatives
Merit's Peazazz Pea Protein Can Now Help Drive Clean Label Food and Beverage Applications
Vancouver, British Columbia, July 28, 2022 -- Burcon NutraScience Corporation ("Burcon" or the "Company") (TSX: BU) (NASDAQ: BRCN), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that its joint venture company, Merit Functional Foods Corporation ("Merit") has developed an innovation utilizing its non-GMO Peazazz® pea protein as part of a 100% protein-based clean label solution to replace methylcellulose, a synthetic ingredient widely used in food and meat alternative applications.
"We are very pleased with Merit's latest innovative protein-based solution that has the potential to disrupt a $1.96 billion methylcellulose market. The food industry has long been searching for a suitable methylcellulose replacement. Peazazz®, derived from Burcon's proprietary technology, has superior functionality and high purity that provide unique opportunities within the food and beverage industries," said Peter H. Kappel, Burcon's interim CEO and Chairman of the board, adding, "In particular, it is rewarding to see substantial, value-driven applications such as a methylcellulose-free solution launching in the commercial marketplace."
Merit achieved an innovative new solution in utilizing its Peazazz® pea protein to replace a synthetic ingredient. When used as part of Merit's methylcellulose-free solution, its non-GMO Peazazz® pea protein affords plant-based formulators a clean label option, while also contributing to the total protein content with the potential to add several grams of protein per serving depending on the product. Additionally, the Peazazz® based methylcellulose-free solution provides key sensory and functionality attributes that assist in creating superior plant-based products for Merit's customers. These include a neutral-flavor profile, meat-like texture, good water binding & emulsification properties, and exceptional gelling properties. Merit's unique protein-based solution is expected to be suitable for replacing methylcellulose in applications such as plant-based burgers, hot dogs, sausages and more.
"We are motivated by the potential this innovation has uncovered for formulators," Merit's Co-CEO Ryan Bracken said. "We've heard from our customers the challenges of removing methylcellulose and now Merit is able to provide them an opportunity to finally eliminate it from their products with our functional pea protein - Peazazz. And beyond this, there's an added benefit of enhanced protein claims and a delicious sensory profile that's on par with traditional products."
Merit is currently collaborating with brands looking to develop the next generation of clean label plant-based meat applications. For more information on Merit's clean label applications, please visit Merit's website here.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. With over two decades of experience formulating high-purity proteins that have superior functionality, taste and nutrition, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed, among other plant sources. In 2019, Merit Functional Foods Corporation ("Merit Foods") was established between Burcon and three veteran food industry executives. Merit Foods has since built and commissioned a state-of-the-art protein production facility in Manitoba, Canada that is producing, under license from Burcon, best-in-class pea and canola proteins for the food and beverage industries. 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, including statements with respect to the execution of definitive documentation with respect to the Loan and drawdown of the Loan. 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," "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 our ability to comply with Nasdaq listing rules, 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, 2022 and its other public filings with Canadian securities regulators on SEDAR at www.sedar.com and with the U.S. Securities and Exchange Commission on EDGAR at www.sec.gov. 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 Contact
Paul Lam
Director, Investor Relations
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.ca www.burcon.ca
Investor Contact
James Carbonara
Hayden IR
Tel (646) 755-7412
james@haydenir.com
Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM