Mr. Kip Underwood reports

BURCON AND HPS RECEIVE SIGNIFICANT CUSTOMER INTEREST FROM HEMPSEED PROTEIN ISOLATE LAUNCH

Burcon NutraScience Corp. launched the world's first high-purity hempseed protein isolate at two separate trade shows -- the Institute of Food Technologists 2023 Annual Meeting and Exposition (IFT FIRST) in July, and Natural Products Expo East in September. This innovative product has since garnered immense interest from customers and industry experts.

The level of interest from industry peers and potential customers has far exceeded Burcon's expectations, with numerous inquiries and requests for product samples. The company believes this overwhelming response underscores the growing demand for high-quality, sustainable and superior tasting plant-based protein options.

HPS Food and Ingredients Inc. and Burcon are actively engaged in providing samples, sharing product data and collaborating to develop consumer food applications for this unique hempseed protein. The two companies have prioritized prospective customer engagement to cater to the significant interest for a high-quality hempseed protein isolate. Collaborating with potential customers is an essential market validation step in bringing this protein to market.

Key highlights of the company's high purity hempseed protein isolate include:

1. Unrivalled purity: The company's proprietary hempseed protein isolate extraction and purification/production process can produce a high-quality protein ingredient that contains 95-per-cent pure protein, is free from contaminants and has minimal flavour impact.
2. Exceptional taste and colour: The high-purity hempseed protein isolate boasts an impressive clean flavour profile and off-white colour that is expected to enable formulators to create innovative great-tasting consumer products.
3. Sustainability: Burcon's hempseed protein isolate production/extraction and purification process uses hempseed grown and processed in North America, which is known for its minimal environmental footprint, its role in promoting soil health and regenerative agriculture.

"We are thrilled by the tremendous interest and demand for our high-purity hempseed protein isolate following its unveiling at IFT FIRST," said Kip Underwood, Burcon's chief executive officer. "This soft launch will provide an opportunity for our valued customers to experience the exceptional quality and versatility of our product firsthand, begin product development and be one of the first to offer customers a truly innovative sensory experience."

"We are dedicated to fostering strong relationships with our customers and ensuring they have the necessary support to harness the potential of our hempseed protein isolate," said Marc van Burck, HPS's chief executive officer. "Their valuable insights and feedback have been instrumental in refining our market approach and tailoring it to meet the evolving needs of our customers around the world."

About HPS Food and Ingredients Inc.

HPS Food & Ingredients is a global leader in value-added processing of plant proteins, seeds and grains, oils, flours, fibres, and starches, for premium food markets and food companies around the globe. HPS produces nutritious, North American grown non-GMO (genetically modified organism), gluten-free ingredient products at its dedicated production facilities in Manitoba, Canada. The company provides quality ingredient solutions for the global food marketplace.

About Burcon NutraScience Corp.

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Its proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its specialty plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is striving to become a vertically integrated provider of specialty plant-based protein solutions that deliver on health, nutrition and sustainability. Supporting the growing trend towards a plant-based diet, Burcon is developing premium protein ingredients that it believes are better for you and better for the planet.

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