|October 17, 2012|
Functional Technologies Renews Agreement with Momentum Public Relations
|Vancouver, BC - October 17, 2012 - Functional Technologies Corp. (TSXV: FEB; OTCQX: FEBTF) (the "Company") reports that it has reappointed Momentum Public Relations, Inc. ("Momentum"), a Longueuil, Quebec-based corporate development and communications firm, to provide the Company with market awareness and investor relations services, subject to TSX Venture Exchange approval. Momentum will assist the Company in forming productive relationships with private investors, analysts, investment funds, brokers, other financial institutions and interested parties. |
Replacing the agreement previously entered into by Momentum and the Company, which expired in July, Momentum's services will again be for a term of six months with the same monthly remuneration of C$4,500, which the Company intends to pay from general working capital. The agreement provides for the grant to Momentum of options to purchase 200,000 common shares of the Company (the "Options") at a price of C$0.30 per share for a maximum term of three years. The Options will be subject to the terms of the Company's stock option plan and will vest in accordance with the provisions therein as well as the policies of the TSX Venture Exchange.
The Company has been informed that Momentum has no direct or indirect interest in the Company's securities, or any right or intent to acquire such an interest except for the Options. The Company has also been informed that a principal of Momentum owns shares of the Company and may purchase additional shares.
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 ("WHO") as probable human carcinogens. Functional Technologies' lead technologies include yeasts that prevent and reduce the formation of foul-smelling hydrogen sulphide (H2S) and the WHO classified probable carcinogen, acrylamide - both 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:
VP, Business Development
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: Sun Oct 21, 2012, Functional Technologies Signs Agreement with Leading Global Yeast Producer, Production of Acrylamide-Preventing Yeast to Commence
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