BIOX announces its third quarter results

August 12, 2014, Toronto, ON – BIOX Corporation announced
its fiscal 2014 third quarter (Q3 2014) financial results for the three-month
and nine-month periods ended June 30, 2014.

Sales were $16.8 million and $49.8 million, respectively,
for the three-month and nine-month periods ended June 30, 2014, compared with
$19.3 million and $50.2 million for the corresponding periods in 2013. The 13%
difference in sales for the three-month period ended June 30, 2014, was
primarily the result of the reinstatement of the $1.00 per US gallon U.S.
biodiesel tax incentive in January 2013, which resulted in a stronger pricing
environment in calendar 2013 compared with calendar 2014.

"Our Hamilton facility continues to operate
effectively. However, until the EPA finalizes the U.S. minimum renewable volume
obligations for 2014 and 2015 and a resolution on the U.S. biodiesel tax credit
is determined, we anticipate that market dynamics will remain challenging with
the value of biodiesel and RINs providing only a narrow margin range for
producers," said Kevin Norton, Chief Executive Officer of BIOX.
"Closer to home, our relationship with Shell Canada Ltd. is proving
beneficial as an efficient method to gain access to the growing demand for
biodiesel in the Ontario market. With the official guidelines for the Ontario
Renewable Diesel mandate expected to be released by the MOE in September 2014,
we expect this market to grow. We continue to pursue additional relationships
that would integrate our production and our sales and marketing with greater
scale to maximize these assets."

Operating loss was $3.0 million and $12.4 million,
respectively, for the three-month and nine-month periods ended June 30, 2014,
compared with $1.8 million and $0.8 million for the corresponding periods in
2013.

The value of biodiesel and Biomass-based Diesel Renewable
Identification Numbers or D4 (RINs) continue to be negatively impacted as the
industry awaits the announcement on the 2014 and 2015 Renewable Volume
Obligation (RVO) from the U.S. Environmental Protection Agency. 2014 RINs
traded at approximately $0.56 (or $0.84 per U.S. gallon) as of August 11, 2014.
The final announcement of the RVO levels for 2014 and 2015 will be an important
signal for the sustainability of the biodiesel industry in the U.S. The EPA has
stated that it will release the 2014 RVO during the summer of 2014.

The proposed RVO maintains the current volume requirement of
Biomass-based diesel at 1.28 billion U.S. gallons for 2014 and 2015. At this
level the 2014 and 2015 volume requirements would actually fall below the 1.8
billion U.S. gallons that the U.S. Biomass-based diesel industry produced in
2013.

While BIOX has historically sold the majority of its product
into the U.S. market, the implementation of the Canadian regulations
significantly increase the accessible market for its product in Canada.
Furthermore, the implementation of a renewable diesel mandate in Ontario on
April 1, 2014, provides BIOX with market certainty in its local region, which
supports the significant capital investment that it made in the
Hamiltonfacility. Once fully implemented, the regulation requires the use of an
estimated 240 million litres of bio-based diesel per annum on an average GHG
adjusted volume basis.

BIOX's inter-terminal pipeline and supply agreement with
Shell is an example of how the Company can directly service primary suppliers
with a secure supply of biodiesel under the new Canadian and Ontario
regulations by the most efficient possible logistics. The supply of biodiesel
under this agreement has the potential to become a significant portion of
BIOX's Hamilton production given the implementation of the Ontario mandate and
as the Canadian Renewable Fuel Content Regulations extend eastward into Québec
and the Atlantic provinces.

BIOX continues to pursue growth strategies that would expand
its business through increasing the volume of biodiesel it produces, controls
and distributes in strategic locations throughout North America.