 | On August 27, 2020 the co released News
Burcon NutraScience Corp.'s joint venture company, Merit Functional Foods Corp., has received a $30-million investment from a new equity partner, Bunge Ltd., a leading international agribusiness and food company. 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 licence, Burcon's novel pea and canola protein ingredients. It will be the only commercial-scale facility capable of producing food-grade canola protein in the world. Construction is well under way, and the plant is on track to be fully operational by December, 2020.
Doug Cooper, MBA (416) 643-3863 dcooper@beaconsecurities.ca has put a $6.50 target on Burcon. - "When we add-up all of the above factors AND with an EV of ~$230 million, we believe the risk-return on the shares of BU is excellent. Furthermore, as we mentioned, plant-based proteins is one of the largest trends of our generation." |