Agrisoma Biosciences Announces Management Equity Investment
GATINEAU, Quebec, April 15, 2015 /PRNewswire/ -- Agrisoma Biosciences Inc., the agriculture technology company that commercialized Resonance Carinata®, the world's first non-food sustainable crop for renewable energy, announced that a group led by its management team has made an equity investment in the company that gives it a 22 percent stake in the company.
The group includes key members of Agrisoma's senior management, board members and advisors.
In a related transaction, Agrisoma has purchased all the shares previously held by Calyx Bioventures, removing Calyx as a shareholder in Agrisoma.
Agrisoma President and CEO Steven Fabijanski, who led the group making the investment, said, "This investment underscores the value being created as Agrisoma expands its commercialization of Resonance Carinata. The opportunity for new sustainable, high-performance agricultural seed products such as Resonance Carinata is substantial, and we want to become more invested in its success."
Resonance Carinata is the world's only RSB-certified (Roundtable on Sustainable Biomaterials) sustainable oilseed crop, providing a source of sustainable oil for renewable fuels and other products, in addition to a high-protein animal feed by-product. In September 2014, Agrisoma closed an $8 million Series A financing round, which was led by Cycle Capital Management, a clean tech venture capital platform of investments, with participation by BDC Venture Capital, one of Agrisoma's current equity investors.
About Agrisoma Biosciences Inc.
Agrisoma Biosciences Inc. is an agricultural company that commercializes Resonance® Carinata, a non-food oilseed crop designed for sustainable production of biofuels and animal feeds. Agrisoma uses advanced crop improvement technologies to provide superior crop varieties to growers. Additional information about Resonance Carinata, Agrisoma and its technology, collaborations and partnerships can be found at www.agrisoma.com.
Contact: Andre Levasseur, Chief Financial Officer,
(819) 205-7795 x210, [email protected]
SOURCE Agrisoma Biosciences Inc.
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