Aqua Bounty Technologies, Inc. Update on Legal Actions (3172N)
25 October 2016 - 12:47AM
UK Regulatory
TIDMABTU
RNS Number : 3172N
Aqua Bounty Technologies, Inc.
24 October 2016
24 October 2016
AQUABOUNTY TECHNOLOGIES, INC.
("AquaBounty" or the "Company")
Update on Legal Actions
Canadian Federal Court of Appeal Dismisses Appeal by Ecojustice,
AquaBounty Approval Stands
Further to the statement made at the interim results on 24 July
2016, AquaBounty Technologies, Inc. (AIM: ABTU; OTC: AQBT), a
biotechnology company focused on enhancing productivity in
aquaculture and a majority-owned subsidiary of Intrexon Corporation
(NYSE: XON), is pleased to announce that, on 21 October 2016, the
Federal Court of Appeal ("the Court") in Canada has dismissed the
appeal brought by Ecojustice ("the appellants") on behalf of the
Ecology Action Centre and Living Oceans Society against Canada's
Minister of the Environment and Climate Change, Minister of Health
and AquaBounty Canada Inc. The Court also ordered the appellants to
pay one set of costs to the respondent Ministers and one set of
costs to AquaBounty Canada Inc.
With the dismissal of the appeal, the ruling passed by the
Federal Court of Canada ("Federal Court") on 23 December 2015 that
the Ministers of Environment and Health were correct to allow
production of AquAdvantage(R) Salmon in Canada for commercial use
stands. The Federal Court had ruled that the Ministers had arrived
at a decision that was "reasonable and made in the manner
prescribed by the Canadian Environmental Protection Act, 1999, SC
1999, c 33 [CEPA]" (http://bit.ly/1mB9vFE).
As stated previously on 19 May 2016, Health Canada and the
Canadian Food Inspection Agency have also approved AquAdvantage
Salmon for production, sale and consumption in Canada.
Ronald L. Stotish, Ph.D., Chief Executive Officer of AquaBounty,
commented: "We welcome the decision made by the Court of Appeal. We
thank the Ministries of Canada who were extraordinarily thorough
and transparent in the review and approval of AquaBounty's
applications. Their decisions have now been convincingly reaffirmed
in Canada's courts. We have always maintained that our AquAdvantage
Salmon are sustainably raised, healthy and a nutritious food. We
will now focus on advancing our business plan and preparing to
launch our product."
Enquiries:
AquaBounty
David Frank, Chief
Financial Officer +1 978 648 6048
Stifel Nicolaus Europe
Stewart Wallace +44 20 7710 7600
Luther Pendragon
Harry Chathli, Claire
Norbury +44 20 7618 9100
This information is provided by RNS
The company news service from the London Stock Exchange
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