EASTAMPTON, N.J., Aug. 18, 2015 (GLOBE NEWSWIRE) -- Epicore is proud to announce that the infrastructure expansion announced in 2014 is now completed. This investment in Epicore's Eastampton, NJ facility supports the Company's growing and profitable core aquaculture business. The expansion comprises a new building on empty land that is adjacent to the current facility. This land was purchased in 2011 to cover just such a need. Construction costs were approximately at $1.0 million, which was financed from Company cash and cash flow.
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The new construction is part of a two phase approach. The first phase is the 6000 square feet facility just completed. The second phase will be a 6000 square foot addition built in the future as facility needs evolve.
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 reduce the current need for outside and offsite storage and will improve the efficiency of the current manufacturing operation. The additional space will facilitate maintenance of current and future quality certifications.
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
