2013-01-11 01:10:28 -
Vancouver, British Columbia, January 10, 2013 - BIOX Corporation (TSX:BX)
realizes immediate benefit from the recent passage of "fiscal cliff"
legislation, with Mackie Research analyst Raveel Afzaal giving the company a new
buy recommendation and a price target of $0.80.
As everyone knows, the U.S. House of Representatives recently approved the
Senate's "fiscal cliff" bill. Part of this larger package was "The
American
Taxpayer Relief Act of 2012", which included a biodiesel tax incentive,
reinstating the biodiesel tax incentive through to December 31, 2013 and also
making the incentive retroactive to January 1, 2012.
One of the company's expected to receive immediate benefits from this Act is
BIOX Corporation, a renewable energy company that currently owns and operates a
67 million litre per year biodiesel production facility in Hamilton, Ontario.
This video, describing
the benefits to BIOX Corporation, is now available for
viewing. If this link is not enabled, please visit www.investmentpitch.com and
enter "BIOX" in the search box.
BIOX has an innovative, proprietary and patented production process that is
capable of producing the highest quality, renewable, clean burning and
biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed
oils to animal fats to recovered vegetable oils with no change to the production
process.
"The passage of this legislation is significant to BIOX as the retroactive
clause allows us to recognize approximately Canadian $7 million in contingent
revenue on product sold during calendar 2012, which will strengthen our earnings
and cash position as part of the fiscal Q2 2013 reporting period. Extending the
tax incentive through 2013 also allows us to capture additional value on product
sold in the U.S. market" stated Kevin Norton, CEO of BIOX Corp.
Analyst Raveel Afzaal with Mackie Research stated, "While we approach business
models that are dependent of government subsidies with caution, the impact of
the announcement on BIOX's profitability and expansion plans cannot be ignored.
As a result, we are revising our recommendations to BUY and increasing our
target price to $0.80 per share."
For more information, please visit the company's website www.BioxCorp.com or
contact the company's CFO, Chris Clinning at 905-337-4970 or email
cclinning@bioxcorp.com.
The company's investor relations are handled by Ross Marshall at TMX Equicom. He
can be contacted at 416-815-0700 extension 238 or email
rmarshall@tmxequicom.com.
For more information about Mackie Research or to obtain their recent report on
Biox Corporation, contact your nearest Mackie Research office. Their branches
are listed on their website at www.mackieresearch.com.
InvestmentPitch.com specializes in producing short three minute videos based on
research reports and significant news releases, as well as a producing a library
of educational video modules that can be filmed by financial advisors for use as
introductory and lead generation tools. The company also produces corporate
video interviews and captures live presentations at investment conferences and
other special venues.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan@investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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