VANCOUVER, Sept. 6 /CNW/ - Burcon NutraScience Corporation (TSX-V: BU) announced today that, similar to previous years, it will pay each non-management director an annual retainer of $7,500 for a total of $30,000. The annual retainer forms part of the compensation program for non-management directors as approved by Burcon's shareholders at the 2004 annual general meeting. Each non-management director will also receive $750 in cash for attendance at committee or board meetings during the year. Burcon proposes to pay the annual retainer in common shares, subject to regulatory approval. The common shares will be issued at $3.30 per share, the closing price of Burcon's common shares on September 5, 2007. Upon receipt of regulatory approval for the issuance, each of the four non-management directors will receive 2,273 common shares of Burcon.
For more information about Burcon view our new website at www.burcon.ca
About Burcon NutraScience
Burcon is a research and development company developing a portfolio of composition, application, and process patents around its plant protein extraction and purification technology. The goal of Burcon's research is to develop its patented process to utilize inexpensive oilseed meals for the production of purified plant proteins that exhibit valuable nutritional, functional or nutraceutical profiles. Burcon, in conjunction with Archer Daniels Midland, is currently focusing its efforts on developing the world's first commercial canola proteins, Puratein(R) and Supertein(TM). Canola, recognized for its nutritional qualities, is the second-largest oilseed crop in the world after soybeans. Burcon's goal is to develop Puratein(R) and Supertein(TM) to participate with soy, dairy, and egg proteins in the expanding multi-billion-dollar protein ingredient market, with potential uses in prepared foods, nutritional supplements, and personal care products.
ON BEHALF OF THE BOARD OF DIRECTORS
"Johann F. Tergesen"
Johann F. Tergesen
President & Chief Operating Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our products ,statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Our expectations regarding the prospect for future success depend upon our ability to develop and sell products, which we do not produce today and cannot be sold without further research and development. When used in this press release, the words "goal", "intend", "believes" and "potential" and similar expression, generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties. In light of the many risks and uncertainties surrounding the development of a source of protein from canola meal, you should understand that we cannot assure you that the forward looking statements contained in this press release will be realized.