Burcon Announces Chief Financial Officer Transition

New CFO brings a wealth of financial and capital markets expertise

Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BRCNF) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that Mr. Robert Peets, a seasoned strategy and finance executive, will be appointed Chief Financial Officer ("CFO") of the Company effective July 1, 2024. He will act in a fractional capacity and succeeds Ms. Jade Cheng, who has decided to step down as CFO effective June 30, 2024 for a personal hiatus and to pursue new opportunities.

Mr. Peets brings a wealth of experience with a distinguished career spanning over 30 years in financial management, strategic planning, and capital markets. Mr. Peets currently holds the role of fractional CFO for multiple technology companies, leading their development in corporate and financial strategies. He was formerly a Partner in Venture Investments at TELUS Ventures, where he was part of the team which managed a $400 million investment portfolio and personally executed over 50 equity and debt transactions in venture-backed companies.

Mr. Robert Peets said, "I am thrilled to join the talented team at Burcon and to leverage my experience to drive Burcon's financial growth and operational excellence. I look forward to working with Burcon's leadership team as we continue to execute our business plan."

Kip Underwood, Burcon's chief executive officer, commented: "On behalf of the entire Burcon team and our board of directors, I want to express our sincere gratitude to Jade for her leadership and contributions to Burcon over the past two plus decades. Personally, I want to thank Jade for her guidance and commitment to Burcon over my first one and half years as CEO. We will certainly miss Jade and wish her well in her future endeavors. Looking forward, we are pleased to welcome Robert to our team. He brings instant credibility to our capital market approach and will sharpen our overall capital strategy."

Jade Cheng, Burcon's chief financial officer, commented: "It has been a pleasure to work with our talented team and be a part of Burcon's growth over the last 25 years. I am proud of our achievements and look forward to Burcon's successful execution of our capital-light business model. I wish the team continued success in bringing its innovative technologies to market."

Robert Peets

Mr. Peets has held the role of Chief Financial Officer for multiple companies across sectors including software, greentech and manufacturing industries. Prior experiences include a decade as a Partner with TELUS Ventures, a strategic investment arm of the $31 billion telecommunications company, TELUS Corp, where he led Corporate Venture Capital investments in over 30 companies and was TELUS' Board representative on 25 corporate boards. Additional experiences include work with PricewaterhouseCoopers, Aviso and Royal Bank of Canada. Mr. Peets has an MBA from the Ivey Business School at Western University and is a CFA Charterholder.

About Burcon NutraScience Corporation

Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our 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 towards a plant-based diet, Burcon offers sustainable protein ingredients that we believe are better for you and better for the planet. For more information, visit www.burcon.ca.

Forward-Looking Information Cautionary Statement

The TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as "anticipate," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2024 and its other public filings with Canadian securities regulators on SEDAR+ at www.sedarplus.ca. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only as of the date on which it was made, and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, investors should not rely on such statements.

Industry and Investor Contact
Paul Lam
Director, Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.cawww.burcon.ca

Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM

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