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In Brief: Bionutrics

This article was originally published in The Tan Sheet

Executive Summary

Bionutrics: evolvE dietary supplement maker announces the completion of its acquisition of Batavia, Ill.-based InCon Technologies Oct. 31. Under terms of the transaction, Bionutrics issued 1.4 mil. shares of common stock, valued at $10.9 mil. at close Oct. 31, for all of the issued and outstanding stock of InCon. InCon is described as an "expert" in high vacuum distillation and "other molecular separation technology." Molecular distillation is "critical to developing drugs, 'functional foods,' additives and dietary supplements from natural sources," Bionutrics says. The company also processes edible oils and is involved in process design and lab testing. InCon profits will help offset Bionutrics' "ongoing development costs," the company adds. The evolvE supplement formulated with the company's Clearesterol didesmethyl-tocotrienol ingredient derived from rice bran, "addresses elements associated with heart disease and stroke." The product "helps maintain cardiovascular health," the company claims, by helping to lower cholesterol, acting as an antioxidant, and promoting "normal circulation"...
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