Burcon Announces its Alliance Partner Signs Purchase and Sale Agreement to Acquire Protein Production Facility

Vancouver, British Columbia--(Newsfile Corp. - January 31, 2025) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that its alliance partner, RE ProMan, LLC ("ProMan"), has signed a Purchase and Sale Agreement (the "PSA") to acquire a protein production facility in North America (the "Transaction").

Pursuant to the terms of the PSA, ProMan, a company led by Mr. John Vassallo, a director and shareholder of Burcon, has entered into a binding agreement to purchase a commercial production facility. The closing of the Transaction is subject to certain conditions, including satisfactory due diligence and approval by the parties.

"This acquisition is the result of months of dedication and collaboration between ProMan and Burcon," said John Vassallo, Burcon’s director. "It underscores our strong confidence in Burcon’s proprietary protein technologies, leadership, and ability to successfully execute a capital-light strategy."

"A dedicated commercial facility gives us a direct path to market for all our protein products, putting us in control of our own commercial production," said Kip Underwood, Burcon’s chief executive officer. "We are excited to begin production and to deliver our products to prospective customers."

Following the review of several commercial facilities with the potential to produce Burcon's entire protein portfolio, Burcon and ProMan identified this facility as an ideal fit. Burcon has developed comprehensive plans for facility start-up, raw material procurement, production ramp, product launch and sales. Upon the close of the Transaction, Burcon expects to complete installation of proprietary unit operations and begin commercial-scale production of its protein products during the first half of 2025.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our 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 novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is committed to delivering next-generation, best-in-class protein solutions, positioning itself as a key player in the rapidly expanding plant-based market. Supporting the growing trend towards a plant-based diet, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. For more information, visit www.burcon.ca.

Forward-Looking Information Cautionary Statement

The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as "anticipate," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Forward-looking statements in this press release, include, among other, statements about satisfaction of the conditions to the PSA, completion of the acquisition of the commercial production facility by ProMan and Burcon beginning commercial production of its protein products. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; inability of ProMan to complete the purchase of the commercial production facility; inability of Burcon to begin commercial production of our protein products in 2025; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2024 and its other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only as of the date on which it was made, and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, investors should not rely on such statements.

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