Solegear Completes Private Placement of Common Shares
Polysole LV1250 and Traverse TF4000 Have Successfully Passed the USDA BioPreferred Program’s Stringent Independent Certification Process
Vancouver, BC – Solegear Bioplastic Technologies Inc. (TSX-V:SGB) announces today that it has earned a USDA Certified Biobased Product and Packaging Label for its Polysole LV1250 injection molding bioplastic verifying its 85% bio-based content. Solegear’s TF4000 thermoforming material also concurrently earned a USDA Certified Biobased Packaging Label.
“We are very pleased to have our proprietary bioplastic materials receive approval for both products and packaging from the USDA BioPreferred program,” said Paul Antoniadis, CEO of Solegear. “We have a strong commitment to transparency in sustainable business practices, and independently verified certifications like the USDA BioPreferred program ensure that our clients, and their customers, achieve the sustainability benefits they’ve been promised.”
As announced in September this year, Solegear’s Polysole LV1250 will be available in Starmark® Clip-Mate™, Memo-Mate™, File-Mate™, Pencil-Mate™, Self-Stackers and Desk Trays to be distributed by TOPS Products Canada through commercial office products catalogues as early as December 2015.
Solegear’s Traverse TF4000 thermoformed packaging, which has been designed specifically to meet heat testing requirements for international container shipping, is currently in production trials with key consumer brands, like Dr. Scholl’s®, and is expected to be on retail shelves by 2016.
About Solegear Bioplastic Technologies Inc.
Solegear Bioplastic Technologies Inc. (TSX V:SGB) is an innovator in the field of next generation bioplastics made from annually renewable plant-based sources. Committed to the principles of Green Chemistry, Solegear is driven by its mission to create healthier, safer and stronger communities by fundamentally changing the way plastics are made.
Solegear is disrupting the $455 billion global plastics market with its proprietary Polysole® and Traverse® formulations, which are designed to meet today’s social and corporate requirements to lower carbon emissions, reduce waste and remove toxicity typically associated with traditional petroleum-based plastics. Together with its partners, Solegear custom engineers, produces and distributes its high-performance bioplastics as resin, sheets and finished goods with some of the highest percentages of renewable, plant-based materials currently available in the industry.
For more information: www.solegear.ca
About USDA BioPreferred
The USDA BioPreferred program was created by the Farm Security and Rural Investment Act of 2002 (2002 Farm Bill), and expanded by the Food, Conservation, and Energy Act of 2008 (2008 Farm Bill). The purpose is to increase the purchase and use of biobased products. The United States Department of Agriculture manages the program. Products that meet the USDA BioPreferred program requirements carry a distinctive label for easier identification by the consumer. For more information, go to www.biopreferred.gov.
On behalf of the Company:
“Paul Antoniadis” Chief Executive Officer and Director
604-684-6730 / 1-866-684-6730 (Toll-Free)
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws.
Implicit in this information, particularly in respect of potential purchase agreements is an assumption that TOPS Products Canada and Dr. Scholl’s will place future commercial orders following trials and/or initial purchase orders. This assumption, although considered reasonable by Solegear at the time of preparation, may prove to be incorrect. This forward looking information is subject to the risk that TOPS Products Canada and Dr. Scholl’s may not place subsequent commercial orders.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.