who owns merit functional foods?

Merit Functional Foods is a joint venture (JV) between Burcon NutraScience and an investor group comprising Hemp Oil Canada founder Shaun Crew, former Manitoba Harvest COO Barry Tomiski and former Manitoba Harvest vice-president Ryan Bracken. Burcon is a global technology leader in the development of plant-based proteins. Rachelle Catellier. Merit Functional Foods jobs. Indeed ranks Job Ads based on a combination of employer bids and relevance, such as your search terms and other activity on Indeed. white-space: -hp-pre-wrap; /* HP printers */ All Rights Reserved. ST. LOUIS — Bunge Ltd. has made a $30 million capital investment in Merit Functional Foods, giving the ingredient supplier a minority interest in the Canadian-based company. The demand for plant-based foods and beverages including dairy and meat alternatives is rapidly increasing. Speaking from Rideau Cottage on June 22, the prime minister announced new funding for Canada’s plant-based food industry, totalling almost $100 million.. Trudeau explained that the money would be going to Merit Functional Foods, a Canadian company that specializes in plant-based proteins.. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. The state-of-the-art facility, which is scheduled to be completed in the first quarter of 2021, will be the only commercial facility in … About Merit Functional Foods Established in 2019, Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with the highest quality protein ingredients and blends that offer unmatched purity, exceptional taste, and excellent solubility. Please select how you would like to be notified of updates by this Company: Display Updates For This Company in My Member Account Online. Merit Functional Foods Corp. Winnipeg plant gets $100M in federal financing to pull protein from peas, canola. The partnership will expedite the construction of Merit’s plant-based protein facility in Winnipeg, Man., where it will produce novel pea and canola protein ingredients. David Shambrock. white-space: pre-line; /* CSS 3 (and 2.1) */ 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. Indeed may be compensated by these employers, helping keep Indeed free for job seekers. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under … Burcon seeks to improve the health and wellness of global consumers through the discovery and development of sustainable, functional and renewable plant-based products for the global food and beverage industries. Canada-based Merit Functional Foods - a joint venture between plant protein tech specialist Burcon NutraScience and three veteran food industry executives – has … About Merit Functional Foods Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. Vancouver, June 22, 2020 / – Burcon NutraScience Corporation (“Burcon”) (TSX:BU, OTCQB:BUROF), a global technology leader in the development of plant-based proteins, is pleased to announce that its joint venture company, Merit Functional Foods Corporation (“Merit Functional Foods” or “Merit”) has secured additional debt financing of $10 million in the form of a 10-year interest free loan from Agriculture and Agri-Food Canada (the “AIP Loan”). As part of the transactions announced today, Bunge, Burcon and Merit's other shareholders have agreed to certain contractual rights, including a right, but not an obligation, of Burcon, in certain circumstances, to participate in a sale of all but not less than all of its shares in Merit, and that in certain circumstances, Merit will have the right to buyout from Burcon the May 2019 license and production agreement for an amount representing the discounted future royalties over the life of the license agreement. 15 Employees In BC (15 Total) About Merit Functional Foods. Vancouver, BC News and Editorial Regarding This Company In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. 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. ST. LOUIS — Bunge Ltd. has made a $30 million capital investment in Merit Functional Foods, giving the ingredient supplier a minority interest in the Canadian-based company. Company Profile Changes and Updates Photo by Postmedia files. }, Copyright © T-NET. Merit’s product portfolio currently consists of three product family offerings: pea protein, non-GMO canola protein, and MeritPro™, a unique lineup of nutritionally complete protein blends. | Copyright | Terms of Use | Contact T-Net | Site Map. width: 190px; WINNIPEG, Manitoba--(BUSINESS WIRE)--Merit Functional Foods announces today a new partnership with Bunge Limited that will bolster its mission … 06/22/2020. Sort by: relevance - date. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. white-space: -pre-wrap; /* Opera 4-6 */ Merit has now secured a combined $95 million debt financing package from a consortium of lenders including Export Development Canada, Farm Credit Canada, Agriculture and Agri-Food Canada, and the Canadian Imperial Bank of Commerce. Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. Merit's product portfolio of pea and canola protein ingredients supports the growing need for highly functional and taste-forward plant-based applications. overflow: none; Burcon NutraScience Joint Venture Company, Merit Functional Foods, Announces Close of $30 million Investment from new Equity Partner, Bunge, Company Profile For more information, visit meritfoods.com. Bunge (www.bunge.com, NYSE: BG) is a world leader in sourcing, processing and supplying oilseed and grain products and ingredients. The interest free loan, repayable over 10 years, was approved under Agriculture and Agri-Food Canada’s AgriInnovate Program. (Submitted/Raymond S.C. Wan Architect Inc.) Forward-Looking Information Cautionary Statement. Forward-Looking Information Cautionary Statement. | https://www.bctechnology.com, © 2021 T-Net. Founded: 1999 | Revenues: $0.01 Million, New Job Listings Posted By This Company Rachelle Catellier Regulatory and Logistics Specialist St-Pierre-Jolys, MB. Merit Foods is building a 94,000 square foot production facility in Manitoba, Canada to produce, under license, Burcon’s novel pea and canola protein ingredients. 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. (Biotech/Life Sciences) Its entire portfolio aligns with a number of consumer label preferences, including allergen-free, gluten-free, non-dairy, non-GMO, non-soy and vegan. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon’s novel pea and canola protein ingredients. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. "We're excited to have a global partner like Bunge recognize our mission and assist us in accelerating our plans and path to launch," Merit's Co-CEO Ryan Bracken said. white-space: -moz-pre-wrap; /* Mozilla */ Follow Company, Burcon JV Company, Merit Functional Foods, Partners with Bunge to Bring Pea and Canola Protein to Market. As a result of these transactions, Bunge is a 25% shareholder in Merit, and Burcon is now Merit Foods largest shareholder owning 33.3% of the plant-based protein producer. Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. The partnership will expedite the construction of Merit’s plant-based protein facility in Winnipeg, Man., where it will produce novel pea and canola protein ingredients. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. In addition to purchasing equity directly from Merit, Bunge purchased additional shares and debt from existing Merit shareholders who are Burcon's joint venture partners. 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. For more information visit www.burcon.ca. Tel (604) 733-0896, Toll-free (888) 408-7960, Legal notice | Merit Functional Foods is building a new processing facility in Winnipeg that will derive protein from both canola and peas resulting in up to 17,000 metric tonnes of canola being purchased from Manitoba producers in its first year of operation and 10,000 metric tons of peas at an estimated value of $14 million. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Vancouver (Biotech/Life Sciences) Canadian plant-based company Merit Functional Foods is partnering with Bunge Limited. Construction is well underway, and the plant is on track to be fully operational by December 2020. Please Send me an Email Alert (With All of My Company Updates) On The Following Dates: .wrapme3 { Any forward-looking statement or information only speaks 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. Bunge's experience in selling canola-based products will complement Merit's patented processing technology. All statements other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding the expected use of proceeds contained in this press release. Burcon expects that the $4 million guarantee Burcon previously provided to help facilitate Merit’s debt financing, will be released in stages over time as Merit draws down on the $10 million AIP Loan announced today. Personnel Changes At This Company. The Government of Canada announced Monday, June 22, 2020, financing of close to $100 million for the new Merit Functional Foods plant in Winnipeg. Although Burcon believes that 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. Merit Functional Foods Corp. has already broken ground on its new $65-million pea and canola protein production plant in the BrookPort industrial park in the northern part of Centreport only months after closing its financing. A rendering of Merit Functional Foods Corporation's 88,000-square-foot pea and canola protein extraction facility in the northwest area of Winnipeg. word-wrap: break-word; /* IE */ Get a clean start to your product innovation. Terms of use. Vancouver, BC, September 2, 2020--(T-Net)--Burcon NutraScience Corporation (TSX:BU), a technology leader in the development of plant-based proteins, announced that its joint venture company, Merit Functional Foods Corporation has received a $30 million investment from a new equity partner, Bunge Limited (NYSE: BG) ("Bunge"), a leading international agribusiness and food company. Merit Functional Foods is building a 94,000 square foot production facility in Winnipeg, Manitoba to produce high quality pea and canola proteins. Burcon is involved in the development of plant-based proteins obtained pea, sunflower seed, canola, soy, and hemp. All Rights Reserved. white-space: pre-wrap; /* CSS 2.1 */ Merit Functional Foods Corporation Corporation Number: 11412728 Merit Functional Foods Corporation is a company governing under the Canada Business Corporations Act - 15 May 2019 (Wednesday). Merit Foods will disrupt the industry’s perception of plant-based protein with high quality functional ingredients that are unmatched in purity, superior in solubility and exceptional in taste. This financing will further support Merit Functional Foods’ growth plans and allow for expansion of their pea and canola protein capacity. 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. Protein production plant breaks ground in Centreport. With this transaction, Burcon is aligned with a leader in the global food ingredients industry, expanding Merit's reach to new customers and consumers in Canada, North America and worldwide.". With over 285 issued patents and more than 250 additional patent applications, that have been developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. It was incorporated on 15 May 2019 (Wednesday) in Canada and as of 15 May 2019 (Wednesday) is an active company. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Dan Kraft Vice President Operations at Merit Functional Foods Winnipeg, MB. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Burcon is a global technology leader in the development of plant-based proteins. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. The partnership will expedite Merit's construction of its state-of-the-art plant-based protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. “With today’s announcement, Merit has further strengthened its financial position as it drives forward to complete its state-of-the-art plant protein production facility in Winnipeg,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding, “Merit fully anticipates future increases in demand and is well positioned to increase planned capacity when the time is right.”. Merit Functional Foods was formed as a joint venture between Burcon and three executives from the food industry in May 2019. padding-left: 0px; white-space: -o-pre-wrap; /* Opera 7 */ Registration on or use of this website constitutes acceptance of our Terms of Use. For more information visit www.burcon.ca. JavaScript is disabled or not supported by your web browser. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes 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 dated June 29, 2020 filed with the Canadian securities administrators on www.sedar.com. Bunge, an international agribusiness and food company headquartered in Missouri, US, has made a C$30m (US$22.9m) capital investment in Merit, giving the global ingredient supplier a … Page 1 of 26 jobs. 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. The state-of-the-art facility, which is scheduled to be completed in Q4 2020 will be the only commercial facility in the world with the capability to produce food grade canola proteins. 15 Employees In BC (15 Total) Founded in 1818, Bunge's expansive network feeds and fuels a growing world, creating sustainable products and opportunities for more than 70,000 farmers and the consumers they serve across the globe. Any forward-looking statement or information only speaks 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. Displayed here are job ads that match your query. JavaScript is, (Updates from all selected companies are combined and sent in a single email), Registration on or use of this website constitutes acceptance of our, Advertise Event in T-Net Direct Newsletter, All Industry Suppliers (To Local Tech Industry), BC Technology Industry Association (BCTIA), BC's Top 100 Tech Companies (By # of Employees), BC's Top 100 Tech Companies (By Revenues), Other Major Tech Employers (HQ Outside BC), BC's Top 20 Biotech/Life Sciences Companies, BC's Top 20 Infotech and Communications Companies, BC's Top 20 New Media and Gaming Companies, BC's Top 20 Wireless Technology Companies, BC's Top 20 Cleantech and Energy Companies, BC's Top 20 Other BC Tech Sector Companies. | Copyright | Terms of Use | Contact T-Net | Site Map underway, and the plant is track. On track to be fully operational by December 2020 with Bunge Limited not accept who owns merit functional foods? the... 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