VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/21/11 -- TerraBioGen Technologies Inc. (TSX VENTURE: TBG), a developer and marketer of proprietary technologies for the production of organic-based, high-value agricultural products from organic wastes, is pleased to announce that it has received approval for additional funding from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).
With the progress that the Company has made to date, NRC-IRAP is providing further financial support for TerraBioGen's research and development efforts with a grant of up to $36,400. This brings the total potential NRC-IRAP funding for the identification and characterization of bioactive compounds in the Company's products to $175,235.
Blair Heffelfinger, President and CEO of the Company, stated, 'NRC-IRAP has been very supportive of our ongoing research and development efforts and product innovation. This additional funding will assist us in the isolation and characterization of additional bioactive ingredients in our products that impart plant growth promotion and increased crop yields benefits.'
Located in North Vancouver, BC, TerraBioGen Technologies Inc. is committed to research and development to continue to improve the efficiency of its technology and the quality of its agricultural products. It is further committed to developing a worldwide marketing capability to ensure market acceptance of its products.
This news release contains certain statements that may be deemed 'forward-looking' statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although TerraBioGen believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of TerraBioGen's management on the date the statements are made. Except as required by law, TerraBioGen undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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