Burcon announces replacement of CFO

The new CFO brings extensive expertise in financial and capital markets

Vancouver, British Columbia–(Newsfile Corp. – June 26, 2024) – Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) (“Burcon” or the “Company”), a global technology leader in the development of plant-based proteins for food and beverages, is pleased to announce that Mr. Robert Peets, an experienced strategy and finance executive, will be appointed Chief Financial Officer (“CFO”) of the Company, effective July 1, 2024. He will serve as Chief Financial Officer of Partial Potential and replaces Ms. Jade Cheng, who has decided to step down as CFO with effect from June 30, 2024, in order to suspend operations and pursue new opportunities.

Mr. Peets brings a wealth of experience from a distinguished career spanning over 30 years in financial management, strategic planning and capital markets. Mr. Peets currently serves as part CFO of a number of technology companies, leading their development in corporate and financial strategies. Previously, he was a partner in Venture Investments at TELUS Ventures, where he was part of the team managing a $400 million investment portfolio and personally led over 50 equity and debt transactions in venture-backed companies.

Mr. Robert Peets said: “I am excited to join Burcon’s talented team and leverage my experience to drive Burcon’s financial growth and operational excellence. I look forward to working with Burcon’s leadership team as we continue to execute on our business plan.”

Kip Underwood, CEO of Burcon, commented: “On behalf of the entire Burcon team and our board of directors, I want to express our sincere gratitude to Jade for her leadership and contributions to Burcon over the past two decades. Personally, I want to thank Jade for her guidance and commitment to Burcon during my first year and a half as CEO. We will certainly miss Jade and wish her all the best in her future endeavors. We look forward to welcoming Robert to our team, adding immediate credibility to our capital markets approach and enhancing our overall capital strategy.”

Jade Cheng, CFO of Burcon, commented: “It has been a pleasure working with our talented team and being part of Burcon’s growth over the past 25 years. I am proud of our achievements and look forward to Burcon successfully achieving our goals. I wish the team continued success in bringing innovative technologies to market.

Robert Peets

Mr. Peets has served as CFO for numerous companies in a variety of sectors, including software, green technology and manufacturing. Prior experience includes a decade as a partner at TELUS Ventures, the strategic investment arm of $31 billion telecommunications company TELUS Corp, where he led Corporate Venture Capital investments in over 30 companies and served as TELUS’s Board Representative on 25 corporate boards. Additional experience includes cooperation with PricewaterhouseCoopers, Aviso and Royal Bank of Canada. Mr. Peets holds an MBA from the Ivey Business School at Western University and is a CFA charterholder.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant proteins for food and beverages. Our proteins have excellent functionality, taste and nutritional value, making them ideal ingredients for food developers. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering novel plant proteins derived from pea, rapeseed, soy, hemp, sunflower and other plant sources. Burcon is committed to delivering best-in-class, next-generation protein solutions, positioning itself as a key player in the rapidly growing plant-based market. Supporting the growing trend towards a plant-based diet, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. More information can be found at www.burcon.ca.

Forecast Information Warning

The TSX has not reviewed and assumes no responsibility for the adequacy of the information contained in this document. This press release contains forward-looking statements or information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as “anticipate,” “aim,” “intend,” “plan,” “goal,” “project,” “estimate,” “expect,” “believe,” “future,” “likely,” “may,” “should,” “could,” “will” and similar references to future periods. All statements in this release, other than statements of historical fact, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Important factors that could cause actual results to differ materially from Burcon’s plans and expectations include the implementation of our business model and growth strategy; trends and competition in our industry; future business development, financial condition and results of operations and the ability to obtain cost-effective financing; potential changes in governmental regulations; and other risks and factors detailed herein and from time to time in Burcon’s filings with securities regulators and exchanges, including the section entitled “Risk Factors” in Burcon’s annual information form for the year ended March 31, 2024 and other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not an exhaustive list of factors that may affect any forward-looking statements or information made by the Company. Any forward-looking statements or information speak only as of the date they are made and, except as required by applicable securities laws, Burcon disclaims any intention or obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Although Burcon believes that the assumptions reflected in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and investors should not rely on such statements.

Contact for the industry and investors
Paul Lam
Director of Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, toll-free (888) 408-7960
[email protected] www.burcon.ca

Contact with the media:
Steve Campbell, April
President
Campbell & Company Public Relations
Tel (604) 888-5267
[email protected]

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