Mr. Kip Underwood reports

BURCON CLOSES OVER-SUBSCRIBED $4.3 MILLION NON-BROKERED PRIVATE PLACEMENT TO ACCELERATE COMMERCIAL PLANS

Burcon NutraScience Corp. has arranged the successful closing of an oversubscribed non-brokered private placement of units of the company at an issue price of 21.5 cents per unit for gross proceeds of $4,364,160. Principal subscribers include company directors, management, long-term shareholders and new investors in support of Burcon's long-term vision.

"We are excited to announce the successful completion of our private placement and combined with non-dilutive capital sources, fully funds our business plan to cash flow positive," said Kip Underwood, Burcon's chief executive officer. "In response to significant customer interest for our protein offerings, we are accelerating our commercial plans. We see a clear path to profitability and are ready to execute. Finally, we want to thank both long-term and new investors for their confidence in us. Their overwhelming support allowed us to exceed our funding goal."

Pursuant to the offering, the company issued 20,298,418 units at a price of 21.5 cents per unit. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant of the company. Each warrant entitles the holder thereof to purchase one common share at a price of 27 cents per warrant share for a period of 24 months after the closing date of the offering. All securities issued in connection with the offering are subject to a statutory hold period in Canada expiring four months and one day from the closing of the private placement.

In connection with the offering, the company paid eligible finders an aggregate cash finder fee of $5,160, representing a cash commission of 4 per cent of the gross proceeds of subscribers introduced to the company by such finders.

The company intends to use the proceeds from the offering to accelerate its commercial plans to meet the surging customer demand for its protein products, accelerate launch plans for its protein products, continue its research and development program, explore new routes-to-market for its commercially proven technologies, and for general corporate purposes.

The issuance of units to insiders under the offering is considered a related party transaction under Multilateral Instrument 61-101. Burcon is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of Multilateral Instrument 61-101 on the basis that the participation in the offering by insiders does not exceed 25 per cent of Burcon's market capitalization. The company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the offering as the details of the participation of insiders of the company had not been confirmed at that time. Further details will be provided in a material change report to be filed by the company subsequent to the dissemination of this press release. The offering was unanimously approved by the disinterested directors of Burcon.

About Burcon NutraScience Corp.

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. The company's 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 toward a plant-based diet, Burcon is developing premium protein ingredients that the company believes are better for you and better for the planet.

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