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Press release from CNW Group

BIOX CEO WILLIAM JOHNSON RESIGNS; COO KEVIN W. NORTON APPOINTED ACTING CEO

Tuesday, July 05, 2011

BIOX CEO WILLIAM JOHNSON RESIGNS; COO KEVIN W. NORTON APPOINTED ACTING CEO07:00 EDT Tuesday, July 05, 2011TSX symbol: BXTORONTO, July 5, 2011 /CNW/ - BIOX Corporation (BIOX or the Company) (TSX: BX) a renewable energy company that designs, builds, owns and operates biodiesel production facilities, today announced that William Johnson has decided to resign as chief executive officer of the Company effective immediately to pursue other opportunities closer to his family in the United States.The Board of Directors has appointed chief operating officer Kevin W. Norton as acting chief executive officer.  Mr. Norton is a co-founder of BIOX who has served as the Company's COO since its inception.Mr. Johnson stated that "Though I am sad to be leaving, I have enjoyed my time as chief executive officer of BIOX and look forward to new challenges which will enable me to spend more time near my family."David Colcleugh, chairman of the Board of Directors, stated that "We appreciate Bill's contributions since he joined the Company earlier this year.  BIOX is fortunate to have a strong and deep management team led by Kevin both at the Hamilton plant and at our Oakville head office."  The Compensation and Corporate Governance Committee of the Board will oversee the process of identifying and selecting a new CEO.Kevin Norton stated that "BIOX is very well positioned.  Our Hamilton plant is in its fifth year of operation and we have continuously improved both our technology and processes. As noted in our fiscal 2011 second quarter report, the pricing trend of biodiesel we sell into the U.S. market has been positive as the market responds to the expanded blending requirements of the U.S. Renewable Fuel Standard (RFS2)."About BIOX CorporationBIOX is a renewable energy company that designs, builds, owns and operates biodiesel production facilities. BIOX currently owns and operates a biodiesel production facility in Hamilton, Ontario, Canada with a nameplate capacity of 67 million litres per year. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks - from pure seed oils to animal fats to recovered vegetable oils with no change to the production process. BIOX's high quality biodiesel fuel meets North American (ASTM D-6751) quality standards. BIOX is Canada's largest biodiesel producer and is focused on building, owning and operating a network of commercial scale biodiesel production facilities in jurisdictions where clearly defined renewable fuel standards policies exist.Forward-looking StatementsCertain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, objectives or achievements of BIOX, or industry results, to be materially different from any future results, performance, objectives or achievements expressed or implied by such forward-looking statements. These statements reflect BIOX's current views regarding future events and operating performance are based on information currently available to BIOX, and speak only as of the date of this press release. These forward-looking statements involve a number of risks, uncertainties and assumptions and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such performance or results will be achieved. Those assumptions and risks include, but are not limited to, the fact that BIOX's results of operations and business outlook are highly dependent on a mix of legislation and producer payment programs and tax credits; and upon commodity prices, which are subject to significant volatility and uncertainty. Many factors could cause the actual results, performance or achievements of BIOX to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including factors described in this press release and those discussed in BIOX's publicly available disclosure documents, as filed by BIOX on SEDAR (www.sedar.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Unless required by applicable securities law, BIOX does not intend and does not assume any obligation to update these forward-looking statements.For further information: BIOX Corporation Chris Clinning Chief Financial Officer Phone: (905) 337-4983 E-mail: cclinning@bioxcorp.com         BIOX Corporation Kevin Norton Acting Chief Executive Officer Phone: (905) 337-4975 E-mail: knorton@bioxcorp.com