HPS and Burcon to Launch Soluble Hempseed Protein Isolate at IFT FIRST 2023

Attendees are invited to visit HPS Food and Ingredients Inc. at booth #S3565 featuring the world's first high purity, soluble hempseed protein isolate

Vancouver, British Columbia--(Newsfile Corp. - July 12, 2023) - Burcon NutraScience Corporation (TSX: BU) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, and HPS Food and Ingredients Inc. ("HPS") are proud to announce the upcoming launch of the world's first high purity, soluble hempseed protein isolate at the Institute of Food Technologists 2023 Annual Meeting and Exposition ("IFT FIRST") in Chicago, IL, July 16-19.

"We are incredibly proud to unveil the world's first high purity, soluble hempseed protein isolate in partnership with HPS," said Kip Underwood, Burcon's chief executive officer. "This best-in-class protein ingredient showcases Burcon and HPS's commitment to providing sustainable, cutting-edge plant-based protein solutions that meet the evolving preferences of consumers worldwide."

Our hempseed protein isolate boasts an amino acid profile that contains all nine essential amino acids crucial for human health. With unparalleled attributes such as high protein purity, solubility and exceptional functionality, this groundbreaking protein isolate opens up new avenues for product development, including into applications such as beverages, bakery products, and nutritional supplements. Furthermore, it offers a smooth texture and neutral taste ensuring an optimal sensory experience for consumers.

"Our collaboration with Burcon represents a significant step forward in delivering superior hempseed protein solutions to customers," said Marc van Burck, HPS's chief executive officer. "Our high purity, soluble hempseed protein isolate combines Burcon's unrivaled technology with HPS's global network, providing customers with a truly innovative product. We are excited to introduce this exceptional plant-based protein to the market and meet the increasing demand for sustainable, high-quality protein alternatives."

Learn more about our newest soluble hempseed protein isolate and HPS's portfolio of ingredient solutions by visiting the HPS team at IFT FIRST Booth #S3565 or contact a representative at HPS or Burcon.

About HPS Food and Ingredients Inc.

HPS Food & Ingredients is a global leader in value-added processing of plant proteins, seeds & grains, oils, flours, fibers and starches, for premium food markets and food companies around the globe. We produce nutritious, North American grown non-GMO, gluten-free ingredient products at our dedicated production facilities in Manitoba, Canada. We provide quality ingredient solutions for the global food marketplace. For more information, visit hpsfood.ca^[1].

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its specialty plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is striving to become a vertically integrated provider of specialty plant-based protein solutions that deliver on health, nutrition and sustainability. Supporting the growing trend towards a plant-based diet, Burcon is developing premium protein ingredients that we believe are better for you and better for the planet. For more information, visit burcon.ca^[2].

Forward-Looking Information Cautionary Statement

The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking 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, performances, 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 included 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 strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2023 and its other public filings with Canadian securities regulators on SEDAR at www.sedar.com^[3]. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only as of the date on which it was made, and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, investors should not rely on such statements.

Industry and Investor ContactPaul Lam - Director, Investor RelationsBurcon NutraScience CorporationTel (604) 733-0896, Toll-free (888) 408-7960plam@burcon.ca^[4] www.burcon.ca^[5]

Media Contact:Steve Campbell, APR - PresidentCampbell & Company Public RelationsTel (604) 888-5267TECH@CCOM-PR.COM^[6]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/173252^[7]

References

1. ^{^} hpsfood.ca (api.newsfilecorp.com)
2. ^{^} burcon.ca (api.newsfilecorp.com)
3. ^{^} www.sedar.com (api.newsfilecorp.com)
4. ^{^} plam@burcon.ca (www.newsfilecorp.com)
5. ^{^} www.burcon.ca (api.newsfilecorp.com)
6. ^{^} TECH@CCOM-PR.COM (www.newsfilecorp.com)
7. ^{^} https://www.newsfilecorp.com/release/173252 (api.newsfilecorp.com)