SGF signs a Memorandum of Understanding with Warnex Inc.
Montréal, October 29, 2001 - The Société générale de financement du Québec (SGF), through its subsidiary SGF Soquia, has signed a Memorandum of Understanding with Warnex Inc. (CDNX:WNX) to evaluate a potential investment by the SGF into the commercialization of Warnex’s Genevision technology.
This technology based on the use of DNA markers in microarrays, combines the detection of pathogens, with a DNA‑based traceability technology, forming an integrated system for quality control in environmental, agri-food and pharmaceutical markets.
SGF Soquia is a subsidiary of the Société générale de financement du Québec whose mission is to carry out economic development projects meeting normal profitability requirements, in collaboration with business partners. Since it was restructured in 1998, SGF has generated investments of about $4.4 billion, creating over 19,400 direct and indirect jobs in the operating phase, not counting the thousands of jobs created during the construction phase. As at December 31, 2000, SGF’s consolidated assets totalled $2.3 billion. SGF has 53 international partners operating in Québec. (sgfqc.com)
Warnex is a diversified genomic‑based biotechnology company, whose main focus is on Genevision, a platform technology for quality control and production management in the pharmaceutical, agri‑food and environmental industries. The company also has operations in analytical testing, bio‑analytical services and forensic consulting.
The common shares of Warnex trade on the Canadian Venture Exchange (CDNX) under the symbol WNX. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
(Not for dissemination or distribution in the United States of America)
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Director of Communications
Mark J. Busgang
President and CEO