Mr. Kip Underwood reports

BURCON UPDATES RIGHTS OFFERING

Burcon NutraScience Corp. has provided an update on the rights offering previously announced on Nov. 20, 2024.

Registration exemptions in additional U.S. states

Burcon has obtained an exemption from the registration requirements of Arizona, Arkansas, Minnesota and Wisconsin to allow the exercise of rights by shareholders in those states. Shareholders in the filing states will be permitted to exercise their rights under the rights offering. Residents of California and Ohio may be restricted from participating in the rights offering.

"We are pleased to secure an exemption from the filing states, enabling more of our U.S. shareholders to exercise their rights," said Kip Underwood, Burcon's chief executive officer. "Our goal is to ensure equal investment opportunities for our shareholders to participate in Burcon's success."

Ineligible jurisdiction and exempt purchaser status certificate

Shareholders of record on Nov. 27, 2024, who are a resident outside of an eligible jurisdiction as described in the rights offering circular, have been sent a notice together with an exempt purchaser status certificate. Ineligible shareholders will need to complete and execute an exempt purchaser status certificate to participate in the rights offering. The exempt purchaser status certificate must be returned to the company on or before Feb. 5, 2025, to confirm eligibility to participate in the rights offering and provide all further information or documentation that the company may require, in its sole discretion.

For further information, please refer to the rights offering circular and notice to ineligible shareholders dated Nov. 20, 2024, on the company's website.

Rights subscription and trading details

Each holder of common shares of record at the close of business on Nov. 27, 2024, in eligible jurisdictions will receive one transferable right for each common share held. Each right will entitle a holder to purchase one common share at a price of 8.5 cents.

To subscribe for common shares, a completed subscription form, together with payment in full of the subscription price for each common share subscribed for, must be received by the subscription agent for the rights offering, Computershare Investor Services Inc., prior to the expiry of the rights at 5 p.m. Eastern Time on Feb. 12, 2025. Shareholders who own their common shares through an intermediary, such as a bank, trust company, securities dealer or broker, will receive materials and instructions from their intermediary.

The rights are listed for trading on the Toronto Stock Exchange under the symbol BU.RT. Trading in the rights on the TSX will cease at 12 p.m. Eastern Time on Feb. 12, 2025.

Due to the continuing Canada Post labour strike, it is possible that the certain shareholders may experience delays in receiving the rights offering notice, which contains details regarding the rights offering. All shareholders are encouraged to view the rights offering notice, rights offering circular and other information related to the rights offering electronically. The company has filed the rights offering notice and the rights offering circular, which includes information regarding the exercise procedures and deadlines of the rights, under its SEDAR+ profile. Additionally, these documents can be viewed on the company's website. If you have not received a paper copy of the rights offering notice and wish to be sent one, please e-mail dlaw@burcon.ca.

The company has registered the offer and sale of the shares issuable on exercise of the rights on a Form F-7 registration statement under the U.S. Securities Act of 1933, as amended. Shareholders in the United States should review the Form F-7, which has been filed with the U.S. Securities and Exchange Commission and may also be obtained by contacting the corporate secretary by e-mail at dlaw@burcon.ca.

About Burcon NutraScience Corp.

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Its proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is committed to delivering next-generation, best-in-class protein solutions, positioning itself as a key player in the rapidly expanding plant-based market. Supporting the growing trend toward a plant-based diet, Burcon offers sustainable protein ingredients that it believes are better for you and better for the planet.

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