Vancouver, British Columbia--(Newsfile Corp. - December 15, 2025) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in plant-based protein innovation, is pleased to issue a letter to shareholders from its Chief Executive Officer, Kip Underwood.Dear Fellow Shareholders,2025 was a transformational year for Burcon, marking the beginning of an exciting phase of growth as we build on our commercial momentum heading into 2026. I can say with confid ...

Core Insights - Burcon NutraScience Corporation reported strong operational execution and growing commercial traction in the plant-based protein sector, reaffirming its revenue targets for 2025 and 2026 [2][3][6] Operational Highlights - Burcon has over 200 active customer projects, with many nearing completion, indicating a rapid scaling of demand and transition to recurring commercial sales [4] - The company successfully commercialized its technology for canola and fava protein production at its Galesburg facility [3] - Recent production runs have been allocated to innovative food and beverage companies, showcasing broad customer adoption [5] Financial Performance - For the fiscal second quarter ended September 30, 2025, Burcon generated revenues of $357,000, representing a 783% increase year-over-year [7] - The company reported a net loss of $7.1 million, compared to a loss of $4.2 million in the same period last year, driven by increased costs associated with production [9] - Cash used in operating activities increased to $4.6 million from $3.0 million in the prior year [9] Future Outlook - Burcon aims to achieve a revenue target of over $10 million for calendar 2026, supported by strong market validation and a diversified protein portfolio [6] - The company is focused on strengthening customer partnerships and scaling production to meet global demand [6] Financial Position - As of September 30, 2025, Burcon had $1.8 million in cash and a negative working capital of $8.2 million, primarily due to a senior secured loan from a related party [10] - The company has taken steps to improve its financial position, including obtaining a $0.7 million short-term loan and launching a convertible debenture offering for up to $4 million [10]

Core Points - Burcon NutraScience Corporation announced a non-brokered private placement of convertible debentures for up to $4 million, with insider participation of at least $2 million [1][2] - The convertible debentures will have a principal amount of $1,000, an interest rate of 15% per annum, and a conversion price of $2.27 per share [2][3] - The company plans to use the proceeds to accelerate growth, invest in inventory and production capabilities, and for general corporate purposes [5] Offering Details - The offering is expected to close on or about November 28, 2025, pending regulatory approvals [6] - The convertible debentures will be subject to a four-month and one-day resale restriction under Canadian securities laws [4] - The company may prepay the debentures if the share price exceeds $4.54 for 14 consecutive trading days [3] Loan Agreement - Burcon has entered into a loan agreement for an unsecured loan of $700,000 from a related entity, with a term expiring in four months or upon closing of the offering [10] - The loan bears an interest rate of 12% per annum and will be used for commercial production and as bridge funding until the convertible debentures offering closes [11] - The loan is considered a related party transaction and was approved by independent directors [12][13]

Company Overview - Burcon NutraScience Corporation is a global technology leader in plant-based protein innovation, focusing on high-performance plant-based proteins for the food and beverage industry [5] - The company has a strong patent portfolio covering novel proteins derived from various plant sources, including pea, canola, soy, hemp, and sunflower [5] Recent Developments - Burcon has successfully commenced commercial production of Puratein®C, a high-purity canola protein isolate with over 90% protein content, available for immediate delivery [1][3] - The production milestone is a significant step in Burcon's strategy to scale revenue and expand its portfolio of next-generation plant proteins [1][2] Product Details - Puratein C is extracted from non-GMO, North American-grown canola seeds and features a complete amino acid profile, including all nine essential amino acids [3] - The product has a Protein Digestibility-Corrected Amino Acid Score (PDCAAS) of 1, indicating its high nutritional value [3] - Puratein C is suitable for a wide range of applications, including dairy alternatives, ready-to-drink beverages, meat analogues, sauces, and baked goods [3] Market Opportunity - The global demand for high-quality, sustainable protein is accelerating, positioning Burcon's proprietary canola protein technology as a compelling solution [2] - The successful production of three proteins at commercial scale demonstrates Burcon's technology platform and execution capability, creating multiple new revenue streams [2]

Core Insights - Burcon Nutrascience Corporation has made significant advancements in its commercialization strategy during Q1 FY26, achieving first commercial production of Peazazz® C pea protein and launching FavaPro fava protein [1][6] - The company entered into a multi-year production agreement worth $6.8 million, which supports its revenue target of $1-3 million for 2025 [1][6] - The Galesburg facility utilizes Burcon's proprietary protein technologies, allowing for scalable production across various plant-based proteins, addressing a total addressable market for pea protein estimated between $215 million to $392 million [1][6] Financial Performance - Revenue for Q1 FY26 increased by 44% year-over-year, reaching $0.34 million [6] - Startup costs associated with the Galesburg facility have impacted margins, with expenses now stabilizing at "new normal" levels [6]

Core Insights - Burcon NutraScience Corporation is transitioning from a technology pioneer to a revenue-generating leader in plant protein innovation, with increased customer engagement and production scaling at the Galesburg facility [2][3]. Operational Highlights - The Galesburg facility achieved its first commercial production of next-generation proteins within 90 days of commissioning, securing a $6.8 million multi-year production agreement [3][4]. - Customer interest surged following the IFT FIRST tradeshow, positioning the company for consistent revenue growth as production ramps up [5][6]. Financial Performance - For the fiscal first quarter ended June 30, 2025, Burcon generated revenue of $342,000, a 44% increase from the same quarter last year, attributed to initial protein sales and contract manufacturing services [7]. - The company reported a net loss of $3.5 million, or $0.27 per share, compared to a net loss of $1.9 million, or $0.26 per share, in the prior year [9][17]. Cash Position and Liabilities - As of June 30, 2025, Burcon had $4.2 million in cash and committed to $1.3 million in payments under its manufacturing agreement for the Galesburg facility [10]. - Total liabilities amounted to $23.4 million, with current liabilities at $4.4 million [15]. Strategic Focus - The company aims to enhance production volumes and process efficiencies while converting its growing customer pipeline into long-term supply agreements [6]. - Burcon is committed to expanding its product portfolio and leading in plant protein innovation, leveraging its versatile production capabilities [6].

Core Insights - Burcon NutraScience Corporation has successfully achieved its first commercial production of FavaPro™, a high-purity fava protein isolate with over 90% protein content, marking a significant milestone in the company's growth strategy [1][3] - The launch of FavaPro™ is a response to the increasing consumer demand for healthy and sustainable protein alternatives, leveraging a proprietary process to extract and purify protein from fava beans, which are environmentally friendly and nutrient-rich [2][3] Company Overview - Burcon is recognized as a global technology leader in high-performance plant-based proteins, with a focus on delivering superior taste, texture, and functionality for the food and beverage industry [5] - The company has an extensive patent portfolio covering novel proteins derived from various plant sources, including pea, canola, soy, hemp, and sunflower, positioning it as a key player in the rapidly growing plant-based market [5] Product Features - FavaPro™ is naturally non-GMO, hypoallergenic, and features a neutral flavor profile, making it suitable for a wide range of food and beverage applications, including dairy alternatives, nutritional beverages, snacks, and baked goods [3] - The product is designed to meet the evolving needs of food formulators and eco-conscious consumers, delivering outstanding taste, color, nutrition, and sustainability [3]

Core Viewpoint - Burcon NutraScience Corporation is set to showcase its innovative Chipotle Black Bean Protein Hummus at the IFT FIRST Annual Event & Expo, highlighting its advancements in plant-based protein technology [1][6]. Group 1: Product Innovation - The Chipotle Black Bean Protein Hummus is crafted using Burcon's proprietary triple blend of Peazazz®C pea protein, Puratein®C canola protein, and Solatein™ sunflower protein, resulting in a dip that is both flavorful and nutritious [6][8]. - Burcon's plant-based proteins boast over 90% purity, neutral flavor, and smooth mouthfeel, making them suitable for various food applications [6][9]. Group 2: Event Details - The IFT FIRST event will take place in Chicago from July 13-16, 2025, where Burcon will be located at booth S4066 [1][6]. - Attendees will have the opportunity to sample the Chipotle Black Bean Protein Hummus during a special tasting event on July 14 and 15, from 11:00 AM to 1:00 PM [7][9]. Group 3: Company Background - Burcon NutraScience is recognized as a global leader in high-performance plant-based proteins, with a strong commitment to sustainability and innovation in the food and beverage industry [11]. - The company holds an extensive patent portfolio covering novel proteins derived from various plant sources, positioning itself as a key player in the growing plant-based market [11].