EASTAMPTON, N.J., June 19, 2014 (GLOBE NEWSWIRE) -- Epicore (TSX-V:EBN) announces investment in another major expansion to its Eastampton, NJ facility to support its growing and profitable core aquaculture business. The Company plans to build a new facility on the empty land that is adjacent to the current facility. This land was purchased in 2011 to cover just such a need.
Epicore sales have grown strongly since 2011, as demand for aquaculture productivity enhancing products has increased. The new facility will supplement the current facility and house manufacturing and warehousing. It will eliminate the current need for outside and offsite storage and will improve the efficiency of the current operation. The additional space will facilitate maintenance of current and future quality certifications.
The requisite local government approvals have been obtained for the new construction. The plan calls for a two phase approach with the first 6000 square feet constructed in 2014 and the second 6000 built in the future as facility needs evolve.
The phase one construction costs are estimated at $0.9 million, which will be financed from Company cash and cash flow.
Epicore BioNetworks Inc. is a leading producer of environmental biotechnology and animal nutrition products. It manufactures in the USA and markets worldwide to a variety of industries to reduce environmental pollution and increase operational productivity.
Epicore BioNetworks Inc. is a public corporation with a registered office in Calgary, Alberta, Canada and with shares listed on the TSX Venture Exchange (symbol EBN). [Neither 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.]
This press release contains forward-looking statements that involve significant risks and uncertainties. The actual results, performance or achievements of the company might differ materially from the results, performance or achievements of the company expressed or implied by such forward-looking statements. Such forward-looking statements include, without limitation, those regarding the future growth of the Company, estimated construction costs of the new facility, expected improvements in the quality, efficiency and reliability of manufacturing operation. We can provide no assurance that the company will be able to generate sufficient cash to meet its obligations. We are subject to various risks, including the uncertainties of product development, markets for our products and regulatory review, our need for additional capital to fund our operations, our reliance on collaborative partners, our history of losses, and other risks inherent in the biotechnology industry.
For more information, please contact: Mr. William P. Long (Chief Executive Officer) USA. Tel: 609-267-9118, Email: Investors@EpicoreBioNetworks.com