Burcon NutraScience Corporation (QB) (BRCNF)

BRCNF one for 20 reverse split. ***pps closed at .097

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

https://www.stocktitan.net/news/BRCNF/burcon-launches-puratein-canola-protein-for-egg-replacement-p62u1dy3tush.html

https://burcon.ca/2024/03/hps-and-burcon-to-highlight-worlds-first-95-hempseed-protein-isolate-at-natural-products-expo-west/

https://burcon.ca/2024/02/burcon-reports-fiscal-2024-third-quarter-results/

BRCN changed to BRCNF. Delisted from the Nasdaq to the OTC:

https://otce.finra.org/otce/dailyList?viewType=Additions

https://mailchi.mp/d76f0d98bc57/burcon-jv-merit-functional-foods-achieves-significant-innovation-in-a-100-protein-based-solution-to-replace-methylcellulose-in-meat-alternatives?e=06281d28c3

Vancouver, British Columbia, July 28, 2022 -- Burcon NutraScience Corporation (“Burcon” or the “Company”) (TSX: BU) (NASDAQ: BRCN), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that its joint venture company, Merit Functional Foods Corporation (“Merit”) has developed an innovation utilizing its non-GMO Peazazz® pea protein as part of a 100% protein-based clean label solution to replace methylcellulose, a synthetic ingredient widely used in food and meat alternative applications.

"We are very pleased with Merit’s latest innovative protein-based solution that has the potential to disrupt a $1.96 billion methylcellulose market. The food industry has long been searching for a suitable methylcellulose replacement. Peazazz®, derived from Burcon’s proprietary technology, has superior functionality and high purity that provide unique opportunities within the food and beverage industries,” said Peter H. Kappel, Burcon's interim CEO and Chairman of the board, adding “In particular, it is rewarding to see substantial, value-driven applications such as a methylcellulose-free solution launching in the commercial marketplace.”

Merit achieved an innovative new solution in utilizing its Peazazz® pea protein to replace a synthetic ingredient. When used as part of Merit’s methylcellulose-free solution, its non-GMO Peazazz® pea protein affords plant-based formulators a clean label option, while also contributing to the total protein content with the potential to add several grams of protein per serving depending on the product. Additionally, the Peazazz® based methylcellulose-free solution provides key sensory and functionality attributes that assist in creating superior plant-based products for Merit’s customers. These include a neutral-flavor profile, meat-like texture, good water binding & emulsification properties, and exceptional gelling properties. Merit’s unique protein-based solution is expected to be suitable for replacing methylcellulose in applications such as plant-based burgers, hot dogs, sausages and more.

“We are motivated by the potential this innovation has uncovered for formulators,” Merit’s Co-CEO Ryan Bracken said. “We’ve heard from our customers the challenges of removing methylcellulose and now Merit is able to provide them an opportunity to finally eliminate it from their products with our functional pea protein - Peazazz. And beyond this, there’s an added benefit of enhanced protein claims and a delicious sensory profile that’s on par with traditional products.”

Merit is currently collaborating with brands looking to develop the next generation of clean label plant-based meat applications. For more information on Merit’s clean label applications, please visit Merit’s website here.

That looks like great news


https://mailchi.mp/cd4acc22cf03/burcon-reports-fiscal-2022-third-quarter-results?e=06281d28c3


Burcon Reports Fiscal 2022 Third Quarter Results
Vancouver, British Columbia, February 14, 2022 — Burcon NutraScience Corporation (“Burcon or the “Company”) (TSX: BU) (NASDAQ: BRCN), a global technology leader in the development of plant-based proteins for foods and beverages, reported results for the fiscal third quarter ended December 31, 2021.

Operational highlights for the third quarter ended December 31, 2021:
During the quarter, Burcon:

recorded a 41% quarter-over-quarter increase in royalty revenues from its licensee, Merit Functional Foods Corporation (“Merit”);
supported Merit in completing the commissioning of its first of its kind pea protein and canola protein production facility;
advanced Burcon’s pipeline of plant-based protein technologies through research and development work at its Winnipeg Technical Centre;
advanced the due diligence process and negotiations with a number of existing and new potential strategic partners on opportunities to commercialize Burcon’s innovative plant-based protein technologies; and
received eight patents covering the company’s novel technologies for the extraction and purification of pulse, soy and canola oilseed protein ingredients and the high-purity proteins produced therefrom. The company’s IP portfolio now consists of 307 issued patents in various countries, with 73 in the U.S., as well as 215 active patent applications, including 35 in the U.S.

During the quarter, Merit Foods:
announced that its first-of-its-kind pea and canola protein production facility in Winnipeg, Manitoba is fully scaled and commissioned;
achieved the production output threshold - as defined under the Amended and Restated License and Production Agreement with Burcon - for the Flex Production Facility to have attained commissioned status;
increased production output to reach over 80% of planned production capacity;
increased production and sales of its best-in-class pea and canola protein ingredients;
received an additional $4.95 million equity investment from its joint venture partner, Bunge Limited;
received a co-investment from Protein Industries Canada to develop high-quality plant-based meat alternative products using its pea and canola protein ingredients;
achieved an AA score with the British Retail Consortium (BRCGS) Global Food Safety Certification, a leading global quality and food safety program; and
continued to expand its sales pipeline through an aggressive sales outreach program as a plant-based protein ingredient solutions provider.
Subsequent to quarter-end:
Burcon announced it will transition to a new president and CEO; and
Burcon filed five additional US patent applications covering technologies for the production of sunflower seed protein and pulse protein ingredients.

Management Commentary

“During our fiscal 2022 third quarter, Burcon’s team supported Merit Functional Foods in resolving the final challenges to the process of commissioning Merit’s first-of-its-kind plant protein production facility,” said Johann F. Tergesen, Burcon’s president and chief executive officer, adding, “With commissioning of Phase 1 complete, Merit’s flex production facility is now capable of supplying leading food and beverage customers with true commercial-scale quantities of its highest purity pea and canola proteins. Merit is on track to achieve production targets, which will in-turn support Merit’s forecast for the sell-in phase with its consumer packaged goods (“CPG”) company customers. Merit forecasts to reach full allocation of its Phase 1 capacity by the end of calendar 2022.”

Merit’s protein sales increased 41% quarter over quarter yet remain disproportionately small compared to the potential production capability of Merit’s production facility. During calendar 2021, Merit’s focus was on completing the commissioning process, and ensuring protein product quality. As such, Merit was frequently occupied with incorporating processing modifications and reconfiguring its facility and was therefore unable to produce product for delivery to customers. However, in the last quarter, Merit has worked with and supported the quality assurance and safety audit teams of a number of major CPG companies as part of those entities’ procurement process. In addition, Merit continues to work closely with hundreds of CPG companies looking to develop new ingredient solutions or reformulate existing applications using Merit’s innovative pea and canola protein ingredients. Merit’s sales prospects are encouraging, and we expect to see many more consumer products using Merit’s proteins to be available on store shelves this coming year.

During the past quarter, our joint venture partner, Bunge Limited exercised its option under the Amended and Restated Unanimous Shareholders Agreement dated August 27, 2020, to invest an additional $4.95 million into Merit. Merit also received a further co-investment from Protein Industries Canada, amounting to one-half of the $7.6 million project cost of a new project aimed at developing innovative plant-based meat alternative products. Merit’s partners in the project include Winecrush Technology, Wamame Foods and Wismettac Asian Foods. The goal of the partnership is to develop and distribute throughout Europe, Asia and North America, a line of meat alternatives to pork and Wagyu beef. This is an excellent opportunity for Merit to showcase the versatility and functional capabilities of its high-purity pea and canola proteins in meat alternative applications.

During the quarter, Burcon continued discussions with potential joint venture partners interested in commercializing Burcon’s other innovative plant-based protein technologies. Burcon and its potential partners conducted further due diligence and carried out other activities in support of negotiating these potential partnerships during the quarter. We are confident our unique technologies for alternative protein sources, including sunflower seed, hemp and oats, arising from Burcon’s core protein extraction technology platform, produce valuable differentiated protein ingredient solutions.

Burcon’s patent team continued to strengthen our already substantial intellectual property portfolio with the addition of eight patents this quarter. The patents cover novel processes for the extraction and purification of protein ingredients arising from pulse, soy and canola crops. Subsequent to quarter-end, Burcon filed five additional US patent applications to further protect its high-value extraction technologies to produce protein from sunflower seed and pulse crops.

Subsequent to quarter-end, Burcon announced that after co-founding Burcon more than 23 years ago, Johann Tergesen will be stepping down as its president and CEO effective February 28, 2022. To ensure an orderly transition, he will continue as an advisor to the company and Burcon's board of directors. Burcon has engaged an executive search firm specializing in the food and agribusiness sectors, to assist in recruiting a new chief executive officer.


Financial Results (in Canadian dollars)

Royalty revenues from Merit totaled $45,000 in the third quarter, as compared to $32,000 in the previous quarter. The nominal royalty amounts reflect Merit’s ongoing commissioning process during the period.

Third quarter loss totaled $1.5 million or $0.01 per basic and diluted share. This compares to a loss of $1.1 million or $0.01 per basic and diluted share in the same year-ago quarter. Following the investment by Bunge Limited into Merit during the current quarter, Burcon recorded a dilution gain of $961,000 as a result of Burcon’s ownership interest in Merit decreasing from 33.3% to 31.6%.

Merit recorded sales revenues of $1.2 million during the quarter, representing sales of pea and canola protein products, as well as sales of commodity items and by-products.

Burcon recorded $1.2 million as its share of loss in Merit Foods for the third quarter of fiscal 2022, as compared to $460,000 in the same year-ago quarter. Merit Foods’ loss reflects its stage of development as it continued to commission the flex production facility during this quarter.

Gross research and development expenses totaled $895,000 for the three months ended December 31, 2021, as compared to $604,000 in the same year-ago quarter. The increase in R&D expenses is due mainly to higher stock-based compensation expense, salary increases and staff additions. The Company began deferring canola and pea development expenses from the second quarter of fiscal 2020. During the current quarter, Burcon allocated $623,000 of R&D costs to deferred development costs. As Burcon’s pea and canola technology that is under license to Merit is now capable of operating in the manner intended by management, Burcon will cease to the capitalization of costs to deferred costs related to its pea and canola technology and begin amortization of the intangible asset as of January 1, 2022.

Gross intellectual property expenses did not change significantly from the same year-ago quarter. During fiscal 2022 third quarter, Burcon allocated $192,000 of IP expenses to deferred costs. As noted above, Burcon will cease to capitalize intellectual property expenses related to its pea and canola technology and begin amortization of the intangible asset from January 1, 2022.

General and administrative expenses increased by $431,000 for the current fiscal quarter as compared to the same year-ago quarter. The increase is due mainly to higher stock-based compensation expense, staff additions, professional fees, investor relations and insurance expenses.

At December 31, 2021, cash balances totaled $9.4 million compared to $14.0 million at March 31, 2021. Management believes it has sufficient resources to fund its expected level of operations and working capital requirements to April 2023. This estimate does not take into account potential proceeds from outstanding convertible securities or royalty revenues from its license agreement.

Comparing market caps…..BRCN is 200 million, BG is 13 billion and Nestle is 360 billion. Bunge owns 25% of BRCN. IF there were to be an acquisition, does it make sense for Nestle to buy Bunge (to ensure a steady supply of peas/canola) …pick up the 25% of BRCN in the process in preparation for acquiring the rest of BRCN?[

BRCN earnings expected July 5th.....Q4 2021 and year end. Obviously burning cash Q1-Q3 but will be interesting to see if Q4 is profitable. All depends on Merit results...if Merit loses $2 million, our share (30%) will be $600k and will show up on the income statement. Welcome to the pluses and minuses of partial ownership.

If they make $2 million, we get the $600k plus the royalty on the technology..

Don’t think Merit will be profitable yet since they are staffing up prior to actually processing a significant number of orders.....costs always ramp up before revenues hit.

Primarily looking for hints of Merit’s expansion plans (and timing)...new capacity needs 6-12 months lead so I want them to be surprised by their success and begin next stage. They need to be pre-emptive in their thinking.

BUROF changed to BRCN. Moved to the Nasdaq from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions

SEC?..US:BUROF BuRcon NutraScience SEC filings...CERT Form 40F dated May 21, 2021

Includes electronic letter from NASDAQ....Arnold Golub , Deputy General Counsel. NASDAQ

Second paragraph...”We further certify that the security described above has been approved by the Exchange for listing and registration.”

Third paragraph...”We understand that the Registrant is seeking immediate acceleration of the effective date of registration and we hereby join in such request.”

Approved only 4 days after filing! Still no announcement from the Company!

https://www.sec.gov/Archives/edgar/data/0001158399/000135445721000583/40FCert_BRCN.pdf

I can't find anything saying anything about the NASDAQ... can you point me in the right direction?

Got approval for NASDAQ listing about 2:30 today.....up 10% immediately....wait to see what happens on Monday once the word gets around

Added 25% to my position today..got a good feeling about this one. Plans to double capacity and get listed on the NASDAQ. Lots of good PR coming.

Opportunity knocks.....didn’t expect it to “look back” but here’s a second chance.

Interesting day today....6% move.on 1.1 million shares but the split was unusual 331k shares in NY and 767k shares in Toronto. The NY volume being 10x what it was when I began following while the Toronto volume is about flat over the same period. It’s slowly being discovered as friends of friends of insiders are becoming aware. A significant string of 20k purchases highlighted the NY action.

Just think what it would be like if there was a press release.

Interesting day today....6% move.on 1.1 million shares but the split was unusual 331k shares in NY and 767k shares in Toronto. The NY volume being 10x what it was when I began following while the Toronto volume is about flat over the same period. It’s slowly being discovered as friends of friends of insiders are becoming aware. A significant string of 20k purchases highlighted the NY action.

Just think what it would be like if there was a press release.

Nice move today...under the radar but soon to be discovered. I’m looking for a volume explosion over the next 2 weeks.

So we are in a 14 day countdown for the Q3 results. Noticed the Merit start-up has slipped a quarter and hopefully they will announce that commercial shipments have begun. Could use something to goose the stock price.

Looking forward to February 16.

Surprisingly quiet.. I can't invest any more.. I already own way too many shares. Don't get me wrong I've done very well

Added another 5k today....still no news but it has interesting activity which I see as insider buying. Hello out there,

Since I’m only conversing with myself, let’s make it good.....I want an announcement that commercial production has begun, initial orders have shipped and there are plans in the works for an expansion in the next 12-18 months. That will tell me that this operation is for real.

I was expecting some sort of announcement that Merit production has started this week. Time is running our for December, with the holidays and such. Merit production capability is advertised at 20,000 tons a year which works out to 40 million pounds at perhaps $2/pound put capacity in the $50-70 million range. Need significant customers bringing up the question of how much of that capacity is destined for Bunge?

Monday close +14.6% on 10x Average Daily Volume. In engineering momentum is defined as mass x velocity but in the stock market it’s price movement x volume. Tomorrow will be interesting.

Up 8.5% on 5x ADV by 10:30 am.

Up 8.5% on 5x ADV by 10:30 am.

The start up is scheduled for this month (December, 2020) and with BUROF volume on Friday at 10x the average daily volume, I expect the cat is out of the bag . The rumor mill will do the rest.

When are they expected to be done the factory in Winnipeg?

That’s interesting ...a 11%. move on 5x normal volume. Have to check the TSX

So Burcon is a 33.3% owner in Merit and Bunge is 25% with an option to purchase the whole thing at some point in the future. Stock price projections out 12 months go as high a $4.25 CAD which is positive. Bunge is a supplier AND a customer so I would expect them to purchase Merit sooner rather than later...but certainly only after the plant has been operational (smoothly) for some period of time.

Question is...if Bunge exercises the purchase option, is Burcon part of the deal? Or will they continue to exist and if they do, will the royalty stream remain intact?

Are they still on track to start up the Merit Foods plant by the end of the year...that is probably the next big news that will impact the stock.

Went looking for the % royalty they will get from Merit and all the filed paperwork is blanked out (for competitive purposes).

Any leakage concerning the output capacity of the Merit Foods facility? Tons/year or $ equivalent?

BU.TO the monster is tearing it up to new 52 week highs...what a beast!!

Smelling like a big deal coming or buyout!

So I bought some at $1.90 and it’s $2.10 three days later.....more significant is volume today is 3x the 90 day average for BUROF.which is good. TSX volume much larger so perhaps stock is being discovered in the US.

New to this opportunity...showed up on my StockCharts screen. Interesting IP play with lots of royalty chances. Question is ...18-24 months down the road will it be Nestle or Bunge to make the buyout offer?

Next question...almost $200 million market cap with 11 direct employees and no sales...Who pumped them up?

May take a small position tomorrow but wish it traded more volume.

BU.TO the largest plant protein company in the world...watch the epic run commence!!

BU.TO long and strong on the largest plant protein producer in the world...break out approach!!

BU.TO. Get ready to rumble.

BU.TO get ready to blow this play up....largest plant protein play in the world....following BYND right now!!!

Good morning Trend

BU.TO get ready for a monster plant based protein play....the largest producer in the world is about to to go crazy!!

$BUROF Now on OTCQB

Will the share price drop down to the bought deal price of $1.55 a share?

$BUROF Wow, that's some news...Cheers! :)

big news with nestle! plant based beverages and foods are HOT!

https://finance.yahoo.com/news/burcon-merit-nestle-announce-collaborative-071400592.html

What is going on with the share price? Why so low?

$BUROF technicals looking great for continuation throughout the week.