TORONTO, ONTARIO--(Marketwired - March 25, 2015) - BlueOcean NutraSciences Inc. ("BlueOcean") (TSX VENTURE:BOC) announces the signing of an amendment to its exclusive world-wide, royalty-bearing, non-transferable, License Agreement ("License") under Neptune's composition and extraction patents on the production and sale of marine derived oil products containing phospholipids. In addition to the three species of Northern Coldwater shrimp that have already been granted in the License, the amendment to the License allows BlueOcean and its shrimp joint venture affiliate to produce and sell shrimp oil products extracted from an additional seven species of shrimp (Penaeus monodon, Penaeus indicus/Fenneropenaeus indicus, Penaeus vannamei, Metapenaeus dobsoni, Parapenaeopsis stylifera, Metapenaeus monoceros and Metapenaeus affinis), in the nutraceutical, dietary ingredients, natural health products, functional food and food supplements markets. The medical food, drugs and drug product markets are not included.
The additional species have varying amounts of essential compounds and will thus be marketed under two brands, Southern AstaShrimp™ which will have over 1000 ppm astaxanthin with phospholipids and omega-3s, and Pacific AstaShrimp™ which will have over 4000 ppm astaxanthin with phospholipids and omega-3s. There is an immediate supply of wild caught Indian and Indo-Pacific Ocean shrimp by-product feedstock to produce 25 MT of Southern AstaShrimp™ and a further 25 MT of Pacific AstaShrimp™ oil in 2015, with a potential expansion of feedstock over the following years to produce 60 MT of each of Southern and Pacific AstaShrimp™ oil.
It is important to note that the Indian and Indo-Pacific Ocean shrimp by-product are derived from wild-ocean caught shrimp and not from farmed or aquaculture raised shrimp as the ocean caught shrimp contain natural astaxanthin in esterified form versus farmed raised shrimp which contain synthetic astaxanthin in free form. According to the Natural Astaxanthin Association, natural esterified astaxanthin, which ocean shrimp obtain from the algae they eat in the ocean, is beneficial to human health whereas farmed shrimp that are fed synthetic astaxanthin provide no benefits to human health due to the differing molecular structures of esterified natural form versus free synthetic astaxanthin.
BlueOcean CEO, Gavin Bogle said, "The additional capacity of this shrimp feedstock to produce Southern and Pacific AstaShrimp™ oil adds new product offerings to our AstaShrimp™ oil line."
About BlueOcean NutraSciences Inc.
BlueOcean NutraSciences Inc. is a Canadian listed public company (TSX VENTURE:BOC) that is focused on developing sustainable, specialty nutraceutical oil products targeted at the rapidly growing Natural Astaxanthin, Krill oil and Omega-3 Algal oil health and wellness markets.
BlueOcean is developing two specialty oil product lines: AstaShrimp™ and AlgaOmega™, and BlueOcean and its JV partner, CMax technologies, have developed a process to convert shrimp, krill, algae and other fish oils into Extended Release Tablets.
BlueOcean owns 50% of the participating and voting rights in 70717 Newfoundland and Labrador Ltd, a joint venture with a major Atlantic Canada shrimp processor that provides the shrimp feedstock for the extraction of Northern AstaShrimp™, and BlueOcean wholly owns the rights to produce and sell its Pacific and Southern AstaShrimp™ oils. BlueOcean wholly owns its AlgaOmega™ product line. BlueOcean owns 50% of the participating and voting rights in 2453969 Ontario Inc., a joint venture with CMax Technologies to develop extended release omega-3/astaxanthin tablets.
The natural oils to be used in AstaShrimp™ contain very high levels of naturally occurring astaxanthin, phospholipids, and omega-3 EPA and DHA. AstaShrimp™ will be targeted at the high value and rapidly growing natural astaxanthin market which is expected to grow to over $700M by 2017. AlgaOmega™ oil is vegetarian, non-GMO omega-3 algal oil containing high levels of EPA with Polar Lipids and is targeted at the rapidly growing omega-3 algal oil ingredient market that is currently valued at $500M and growing at 14% CAGR. The extended release tablets target the rapidly growing $25B omega-3 consumer market and $700M astaxanthin consumer dietary supplements markets.
Forward Looking Statements: BlueOcean
This news release may contain forward-looking statements that are based on BlueOcean's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
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