|May 15, 2012|
Functional Technologies Joins the OTCQX
Vancouver, BC --- May 15, 2012 --- Functional Technologies Corp. (TSXV:FEB; OTCQX:FEBTF) (the "Company") announced today that the Company's common shares will begin trading on the international tier of the OTCQX market in the U.S. as of the market opening on Tuesday, May 15, 2012, under the ticker symbol "FEBTF". The OTCQX International market is home to many of the world's largest companies by market capitalization. The Company will also continue to trade in Canada on the TSX Venture exchange under the trading symbol "FEB".
"Trading on the OTCQX market will provide Functional Technologies' current and potential investors in the U.S. with an additional and comprehensive platform to access the Company's securities. Given the increasing momentum with which Functional Technologies continues to generate substantial industry interest and third party validation for its lead yeast technology platforms to prevent acrylamide in starchy foods and hydrogen sulphide in wines, being quoted on the OTCQX will help enhance awareness of our Company among the investment community in the U.S.," said Howard Louie, Chairman and Chief Business Development Officer of Functional Technologies.
"With the progress that Functional Technologies has made on a number of corporate initiatives, paired with its innovative suite of food enhancement platform technologies well positioned to take advantage of commercial opportunities in the food and beverage sector, we are confident that the Company will be of considerable interest to the investment community across the U.S. Torrey Hills Capital has cultivated a strong investor network of U.S.-based investors, and the trading of Functional Technologies shares on the OTCQX marketplace will enable these investors to access trading data on a robust and senior trading platform, as well as create new opportunities for the purchase of Company shares in the open market," said Jim Macdonald of San Diego Torrey Hills Capital, Inc., a leading investor and financial public relations firm. Functional Technologies is working with Torrey Hills Capital to increase awareness of the Company within in the U.S. investment community.
Investors can find current financial disclosure and real-time quotes for Functional Technologies on www.otcqx.com and www.otcmarkets.com/stock/FEBTF/quote. Berns & Berns, Counsellors at Law will serve as the Company's Principal American Liaison ("PAL") on the OTCQX, and is responsible for providing guidance on OTCQX requirements and U.S. securities laws.
This news release contains forward-looking information (within the meaning of Canadian securities legislation) about Functional Technologies Inc. and its future plans. Forward-looking information relate to future events or future performance and reflect management's expectations or beliefs regarding future events rather than historical facts, and in this news release include the statements (the "forward-looking statements") regarding: (1) the expectation that listing on the OTCQX will provide investors in the U.S. with a comprehensive platform to access the Company's securities, and enhance investor awareness of the Company; and (2) the expectation that the Company will be of considerable interest to the U.S. investment community. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. These risks, uncertainties and other factors include, without limitation, uncertainty as to the Company's ability to achieve the goals and satisfy the assumptions of management; uncertainty as to the demand for the Company's products and the Company's ability to meet such demand; and general economic factors and other factors that may be beyond the control of the Company. Forward-looking statements are based on the opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those opinions or expectations, or other circumstances, should change. Reference to the section entitled "Risks and Uncertainties" commencing on page 16 of the Company's management's discussion and analysis relating to the fiscal quarter ended February 29, 2012, which is available on SEDAR at www.sedar.com.
About the OTC Markets Group
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest OTC marketplace for equity securities. The OTC Link(r) trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. OTC Markets Group Inc. organizes the wide spectrum of OTC-traded equity securities into three marketplaces to inform investors of opportunities and risks - OTCQX - The Intelligent Marketplace for the Best OTC Companies; OTCQB(r) - The Venture Marketplace; and OTC Pink(r) - The Open Marketplace. Its information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more, visit www.otcmarkets.com.
About Functional Technologies Corp.
Functional Technologies develops and commercializes proprietary, advanced yeast-based solutions to significant challenges in the food, beverage and healthcare industries. The Company's platform improves the performance of innate yeast functions, and prevents the formation of naturally occurring toxins and contaminants that either affect final product quality or are classified by the World Health Organization as probable human carcinogens. Functional Technologies' lead technologies include yeasts that prevent and reduce the formation of the foul-smelling hydrogen sulphide (H2S) and the carcinogens acrylamide and ethyl carbamate (more commonly known as urethane), by-products of food and beverage processing. These contaminants are found in many commonly consumed items, such as fermented food products and alcoholic beverages, and baked and fried foods. The Company markets its commercialized yeast products, primarily its hydrogen sulphide-preventing wine yeasts, through wholly owned subsidiaries in the U.S. and Europe. Its U.S. subsidiary, Phyterra Yeast Inc. and its associated sales office, is based in Napa Valley, California. For more information, please visit our website at www.functionaltechcorp.com.
For further information, contact:
Connie Chen, PhD
VP, Corporate Development and Communications
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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