Ceapro Signs a License and Distribution Agreement With Symrise
EDMONTON, ALBERTA -- (Marketwired) -- 05/09/13 -- Ceapro Inc. (TSX VENTURE:CZO) ("Ceapro" or "the Company") is very pleased to announce the signing of an agreement with German-based multinational Symrise, the leading provider of active ingredients, for the distribution of selected products to specific key major players in the cosmetic market.
Furthermore, Symrise will provide Ceapro with financial support under the form of a significant line of credit until April 1, 2016.
"Symrise is a long term partner of Ceapro and we are very pleased to have this Agreement with Symrise. We are delighted for the vote of confidence towards our Company and especially for the recognition of the quality and uniqueness of Ceapro's products that are going to be manufactured in our new state of the art facility in Edmonton," said Gilles Gagnon, President and CEO of Ceapro. "Our vision is to be recognized as the Canadian leader in botanical actives innovation and bioprocessing by 2015. No doubt that our partnership with Symrise, one of the most respected player in our industry, will help us to achieve our common goals" he added.
"Ceapro and Symrise have a long relationship in product development and we are very pleased to have formalized this agreement, which not only will help Ceapro financially but also should pave the way for future developments that should benefit both companies in creating value," said Dr. Klaus Stanzl, President and CEO, Life Essentials Division,Symrise Ag.
About Ceapro Inc.
Ceapro Inc. is a Canadian growth-stage biotechnology company. Primary business activities relate to the development and commercialization of active ingredients for personal care and cosmetic industries using proprietary technology and natural, renewable resources. To learn more about Ceapro, visit www.ceapro.com.
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Telephone (Edmonton): 780.917.8376
Source: Ceapro Inc.
Released May 9, 2013