ICS.TO March 1 close .14
CCJ/H.V March 1 close .155
I was going to pick v.lgc at .63 yesterday but missed the market close and didn't realize you had extended it until right now.
If you can still add me it would be great!!
News of ADM-Burcon deal was released last friday at the market closing.
ADM will make royalty payment ot Burcon on the sales of Clarisoy under the 20 years licnce agreement.
VANCOUVER - One of the world's biggest agribusinesses, Archer Daniels Midland, has licensed the rights to a Canadian company's soy product for making protein-fortified beverages such as juices, soft drinks and sports drinks.
Burcon NutraScience Corp. (TSX:BU) announced Friday that it will receive royalty payments on ADM's worldwide sales of Clarisoy under the 20-year deal.
Financial terms weren't disclosed but Burcon said the royalty payments will be the Vancouver-based research company's first revenue stream from commercial sales.
The licence agreement gives ADM exclusive rights across all geographic regions and all potential product applications to produce, market and sell Clarisoy soy protein, Burcon said.
Based in Decatur, Ill., ADM employs 29,000 people in 60 countries. Its sales for fiscal 2010 totalled US$62 billion.
"We are excited to bring Clarisoy to market," said Bruce Bennett, general manager of protein specialties for Archer Daniels Midland (NYSE:ADM).
"Clarisoy's potential in the global protein ingredient industry will be well served through our licence agreement with Burcon. The versatility of Clarisoy complements our current product portfolio and increases application opportunities for our customers."
The companies also announced separately that they have an amended agreement to develop Burcon's Puratein and Supertein, two canola protein products.
Burcon shares last traded at $11.32, down 32 cents, at midday Friday before a trading halt was imposed.
I heard that the Clarisoy launch will be at the IFT in June where ADM/Burcon will be handed out juice samples.
I expect big buying when the market opens on monday.