|July 03, 2012|
Functional Technologies Appoints International Food Industry Executive to Advisory Board
Vancouver, BC --- July 03, 2012 --- Functional Technologies Corp. (TSXV:FEB; OTCQX:FEBTF) (the "Company") is pleased to announce the appointment of Mr. Carlos Barroso to its Advisory Board. Mr. Barroso is an accomplished, international R&D executive with more than 20 years experience in consumer products, particularly in the food and beverage industries, and has been integrally involved in the creation and advancement of numerous innovative products and technologies, including in the cultivation of strong intellectual property and associated protection.
Prior to founding CJB and Associates, Inc, a consulting firm specializing in the food and beverage sectors, Mr. Barroso was the Senior Vice President of R&D for PepsiCo Global Foods, responsible for its US$27 billion global food and snacks, where he led production innovation and brought 100's of millions of dollars of incremental business in its international foods division. He was also previously a director of R&D with Procter & Gamble, where he cultivated expertise in the global beverage and paper goods sectors, as well as in market research. Mr. Barroso holds a degree in Chemical Engineering from Georgia Tech and serves as Vice Chair on the External Advisory Board for the school of Chemical and Biomolecular Engineering.
"I am pleased to be joining Functional Technologies' Advisory Board and look forward to lending my industry experience to help advise on, and assist in, facilitating Functional Technologies' efforts to commercially position its yeast-based solution to help mitigate acrylamide in a safe, effective and cost-efficient manner," commented Mr. Barroso.
Howard Louie, Chairman and Chief Business Development Officer of Functional Technologies, stated "We are pleased that someone of Mr. Barroso's extensive industry knowledge and business acumen has agreed to join us as an Advisor to the Company at this pivotal phase of our development as we look forward to building on the momentum and interest cultivated with numerous international food producers across several food sectors."
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 statement (the "forward-looking statement") that Functional Technologies' efforts to position its acrylamide-preventing yeast technologies globally will progress, and that the Company will build on the momentum and interest it has generated for these technologies. This forward-looking statement is 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 the forward-looking statement including, without limitation, uncertainty as to the Company's ability to achieve the goals and satisfy the assumptions of management; uncertainty as to the Company's ability to raise sufficient funds to commence operations at the Vancouver development site; 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 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. For more information, please visit our website at www.functionaltechcorp.com.
For further information, contact:
Chairman and Chief Business Development Officer
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.
You can view the Next News Releases item: Mon Jul 9, 2012, Patent Allowances Received for Hydrogen Sulphide-Preventing Wine Yeasts
You can view the Previous News Releases item: Tue May 15, 2012, Functional Technologies Joins the OTCQX
You can return to the main News Releases page, or press the Back button on your browser.