- Corporate Governance
Algae Dynamics Press ReleaseALGAE DYNAMICS CORP FILES REGISTRATION STATEMENT FOR PROPOSED INITIAL PUBLIC OFFERING
Company Enters Next Stage of Development to Produce Low-Cost Ultra-Pure Algae Biomass
Mississauga, ON - October 30, 2014 - Algae Dynamics Corp., formerly known as Converted Carbon Technologies Inc. (Algae Dynamics), a company developing methods for the production of low-cost ultra-pure algae oil and biomass with high nutrient content for the functional food/beverage additive and health supplement industries, announced that it has filed a registration statement on Form S‐1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. All shares in the offering will be sold by the selling shareholders.
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering can be obtained from Algae Dynamics, 4120 Ridgeway Drive. Unit 37, Mississauga, ON L5L 5S9 Canada.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Algae Dynamics
We are currently engaged in the commercialization of our proprietary BioSilo™ algae cultivation system for the high volume, low cost production of pure contaminant-free algae biomass. This biomass is high in Omega-3s DHA/EPA, vitamins, minerals and antioxidants, all of which are in demand by the growing multibillion dollar food/beverage and health care sectors. Our integrated BioSilo™ manufacturing system provides low cost algae biomass production with modest capital cost requirements compared to conventional approaches. Furthermore, our "controlled outcomes" technology provides ultra-high purity algae biomass, differentiating it from other producers in the market. Following completion of a commercial-scale demonstration facility we intend to produce algae biomass for sale into the functional additive beverage, food, healthcare, nutraceutical and supplements markets.
Paul Ramsay, President
4120 Ridgeway Drive, Unit 37, Mississauga, ON L5L 5S9 Canada