10:41:00 EDT Fri 20 Sep 2019
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Burcon NutraScience Corp
Symbol C : BU
Shares Issued 43,941,536
Close 2019-01-15 C$ 0.23
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Burcon NutraScience chairman, CEO Yap resigns

2019-01-15 10:39 ET - News Release

Dr. Lorne Tyrrell reports


Effective today, Dr. Allan Yap has decided to step down from his positions as chairman, director and chief executive officer of Burcon NutraScience Corp. for personal reasons. The board of directors of Burcon is pleased to announce that Dr. Lorne Tyrrell has been appointed as chairman of the board and Johann Tergesen has been appointed as the corporation's chief executive officer.

"Dr. Allan Yap was instrumental in the founding of Burcon serving as chairman, director and as chief executive officer for more than 19 years. The board is grateful for his guidance and leadership over the years," said Dr. Lorne Tyrrell. "Allan made significant contributions to Burcon during his tenure."

On Jan. 14, 2019, Large Scale Investments Ltd., a company wholly owned by Burcon director Alan Chan, announced that it had acquired from Dr. Yap 1,566,719 common shares of Burcon. The total number of Burcon shares, which Mr. Chan is now deemed to beneficially own postacquisition of Dr. Yap's shares, is 11,433,287, which represents 26.02 per cent of the issued and outstanding shares of Burcon.

Dr. Tyrrell first joined Burcon's board of directors in December, 2009, and was appointed lead director in February, 2016, and chaired board meetings in Dr. Yap's absence. As lead director, Dr. Tyrrell also acted as liaison between the board and management of Burcon. Dr. Tyrrell is the Glaxo SmithKline chair in virology in the department of medical microbiology and immunology at the University of Alberta. Since 1986, he has focused his research on viral hepatitis. Supported by Canadian Institute of Health Research and Glaxo Canada, Dr. Tyrrell's work on the development of anti-viral therapy resulted in the licensing of the first oral anti-viral agent to treat chronic hepatitis B infection -- lamivudine -- in 1998. Dr. Tyrrell holds more than 50 international patents for his studies on viral hepatitis. Dr. Tyrrell was dean of the faculty of medicine and dentistry from 1994 to 2004 at the University of Alberta and is currently the chair of the board of directors of the Gairdner Foundation. The Canada Gairdner International Awards recognizes excellence in medical science research globally. Dr. Tyrrell has received numerous prestigious awards including the Gold Medal of the Canadian Liver Foundation (2000), the FNG Starr Award of the Canadian Medical Association (2004), the Principal Award of the Manning Awards Foundation (2005) and the Queen Elizabeth II Diamond Jubilee Medal (2012). Dr. Tyrrell was appointed officer of the Order of Canada in 2002. In April, 2010, Dr. Tyrrell was appointed as the inaugural director of the Li Ka Shing Institute of Virology at the University of Alberta. On April 28, 2011, Dr. Tyrrell was inducted to the Canadian Medical Hall of Fame. In 2015, he was awarded the Canada Council for the Arts Killam Prize in Health Sciences.

Mr. Tergesen has served as Burcon's president and chief operating officer since September, 2000, having held additional senior management roles with the company since its inception as a capital pool company in 1998. He also served as a member of Burcon's board of directors for nearly 14 years from November, 1998, to September, 2012. A plant protein industry veteran, Mr. Tergesen has helped guide Burcon's technology and intellectual property growth in alternative plant-based proteins.

About Burcon NutraScience Corp.

Burcon is a leader in developing functionally and nutritionally valuable plant-based proteins. The company has developed a portfolio of composition, application and process patents originating from a core protein extraction and purification technology. Burcon's Clarisoy soy protein -- under licence to the Archer Daniels Midland Company -- offers clarity and high-quality protein nutrition for low pH beverage systems and excellent solubility and exceptionally clean flavour at any pH; Peazazz is a uniquely soluble and clean-tasting pea protein; and Puratein, Supertein and Nutratein are canola protein isolates with unique functional and nutritional attributes.

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