|By Marketwired .||
|April 3, 2014 07:00 AM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/03/14 -- Calyx Bio-Ventures Inc. (TSX VENTURE: CYX) ("Calyx" or the "Company") is providing this corporate update further to the update issued on March 31, 2014.
Calyx is an agricultural technology company that has been focused on the renewable fuels sector through an investment interest in Agrisoma Biosciences Inc. ("Agrisoma"). In light of ongoing challenges related to the funding of Agrisoma in a way that is beneficial to all Agrisoma stakeholders, Calyx is seeking to diversify its business interests and is reviewing businesses in the tech, agriculture and biotech sectors including the MMPR (Marijuana for Medical Purposes Regulations) and the agri-pharmaceutical space.
The medical marijuana industry is an emerging multibillion-dollar opportunity and is undergoing significant regulatory and legal reform that offers strong growth opportunities to early participants. Calyx is considering entry into this arena. New medical marijuana licensing that came into effect April 1, 2014 will allow for licensed producers to now grow on a larger, commercial scale.
The medical marijuana industry is in its infancy as a legitimate corporate industry. Estimates by Health Canada and ArcView Angel Investors are that the sector will grow 10 fold and become an industry of more than a $10 billion annually over the next 5 years.
Calyx is currently in discussions for and is completing initial reviews of a number of potential new business opportunities and will continue to provide further updates as necessary.
Calyx Bio-Ventures Inc. (TSX VENTURE: CYX) is an agricultural technology company focused on renewable fuels including biojet and biodiesel. Calyx is the largest shareholder of Agrisoma Biosciences Inc., a company which is producing a new proprietary non-food energy feedstock crop - carinata - which yields oil that can be refined into fuels that work in existing engines as a 100 percent petroleum substitute. From seed to sky, fuels produced from carinata substantially reduce carbon and other harmful emissions, and help to reduce global petroleum dependence. Carinata was used to fly the world's first 100% biojet flight, as achievement that Popular Science called one of the top science events on the planet in 2012. For further information about Calyx, please visit www.calyxbio.com. For more information on Agrisoma, please visit www.agrisoma.com.
Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control.
Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect.
Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.
The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.