BioEnvelop closes $3.3 million private placement

BioEnvelop Technologies Corp has closed a $3.3-million private placement to increase the capacity of its R&D activity and plant operations in Ste-Hyacinthe PQ. The Laval-based firm sold 15 million shares to four unnamed institutional investors and a company insider. BioEnvelop develops, makes and markets a biodegradable and edible protein-based coating treatment to prolong the shelf life of baked goods and fresh and frozen food products. It is currently developing biodegradable films for packing, protecting and transporting food products....