The company develops omega-3 products which can be formulated as liquids, emulsions or powders and used as food additives.
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Its flavorless omega product is plant-based and extracted from flaxseeds.
The study aimed to determine the totox value, which is a measure of an oil’s oxidation state and a parameter for assessing the quality of edible oils.
The lower the totox value, the better the quality of the oil.
The study determined the totox value of a 10-month-old sample representative of its BioCube machine, was 11.70.
Seven out of the nine samples contained ethanol levels from 0.5% to 2.5%, while the allowable limit in Canada is 0.5%.
The omega-3 market is expected to reach US$7.32 billion by 2020, according to a report by Grand View Research Inc.
The company also announced that it wants to reprice around 9.34 million of its warrants expiring December 15, 2018, from $0.15 each to $0.075 each, extending the expiry date to December 15, 2020.
Shares of the Vancouver-based company were up more than 11% to C$0.05 by Tuesday’s closing bell.
Contact Lenore Fedow at firstname.lastname@example.org