Epicore BioNetworks Inc. Announces Infrastructure ExpansionBy Epicore Bionetworks Inc., PRNE
Sunday, October 16, 2011
CALGARY, Alberta, October 17, 2011 -
Epicore announces investment in a major expansion to its Eastampton, NJ facility to support its growing and profitable core aquaculture business and to create new opportunities to enhance shareholder value.
A financing commitment has been secured from a leading North American bank for USD $1.9 million of production equipment. The new equipment will significantly expand Epicore’s current production capacity for biological products. The expansion will also support the continued improvement in the reliability and efficiency of current production as well as providing production capability for new products from the Company’s research and development program. This expansion is a key element in the Company’s diversification program into other areas of environmental biotechnology.
To accommodate the new equipment modifications will be made to the Company’s existing Eastampton site. The modifications include relocating current offices and creating additional production space. The requisite local government approvals have been obtained for the building modifications.
Epicore BioNetworks Inc. is a leading producer of environmental biotechnology and animal nutrition products. It manufactures in the USA and markets worldwide to a variety of industries to reduce environmental pollution and increase operational productivity.
Epicore BioNetworks Inc. is a public corporation with a registered office in Calgary, Alberta, Canada and with shares listed on the TSX Venture Exchange (symbol EBN). [Neither 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.]
This press release contains forward-looking statements that involve significant risks and uncertainties. The actual results, performance or achievements of the company might differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements. Such forward-looking statements include, without limitation, those regarding the future growth of the Company, expected improvements in the quality, efficiency and reliability of manufacturing operations, acceleration of the Company’s penetration into new business areas, the development plans of the company, and the expected timing and results of such development. We can provide no assurance that such development will proceed as currently anticipated, that the expected timing or results of such development will be realized or that the company will be able to generate sufficient cash to meet its obligations. We are subject to various risks, including the uncertainties of product development, markets for our products and regulatory review, our need for additional capital to fund our operations, our reliance on collaborative partners, our history of losses, and other risks inherent in the biotechnology industry.
For further information: Mr. William P. Long (Chief Executive Officer) USA. Tel: +1-609-267-9118, Email: Investors@EpicoreBioNetworks.com
Tags: Alberta, Calgary, canada, Epicore Bionetworks Inc., October 17