VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2012) -

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Calyx Bio-Ventures Inc. ("Calyx" or the "Company") (TSX VENTURE:CYX) announces that it has entered into an agreement with Canaccord Genuity Corp. (the "Agent"), to place up to 6,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for total gross proceeds of up to $1,500,000.

Each Unit will comprise one common share of the Company and one half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable into one common share of the Company for a period of 24 months from closing at an exercise price of $0.40.

The Company will grant the Agent an option to solicit additional Units to raise additional gross proceeds of up to $500,000 exercisable 48 hours prior to closing.

In addition, the Company also announces that it will conduct a non-brokered private placement of up to $500,000 in Units under similar terms as above.

The funds raised from the issuance of the Units will be for general working capital purposes. Subject to its own financial position, Calyx proposes to continue to finance its interest in Agrisoma.

Closing of the financings is anticipated to occur on or about May 30, 2012 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.

The Company has cancelled the private placement that was previously announced on March 9, 2012. The proposed financing was a non-brokered private placement for up to an aggregate of 10,000,000 common shares of the Company at a price of $0.35 per common share for gross proceeds of up to $3,500,000.

About Calyx

Calyx Bio-Ventures Inc. trades on the TSX Venture Exchange under the symbol "CYX" and owns approximately one third of an operating subsidiary called Agrisoma Biosciences Inc. Agrisoma is a private agricultural biotechnology company that uses a proprietary Engineered Trait Loci (ETL) technology licensed from Calyx to commercialize a suite of industry-leading oil quality and crop improvement traits for use in energy feedstock crops. For further information about Calyx, its technology, collaborations and partnerships, please visit: [ www.calyxbio.com ]

ON BEHALF OF THE BOARD

CALYX BIO-VENTURES INC.

W. Hugh Notman, President & CEO

Forward-Looking Statements: This document contains certain forward-looking statements concerning Calyx, as well as other expectations, plans, goals, objectives, information or statements about future events, conditions, results of operations or performance that may constitute "forward-looking statements" or "forward-looking information" under applicable securities legislation, including without limitation, statements about the amount and use of proceeds from the private placement financings, and the terms and completion of the financings. Such statements or information involve substantial known and unknown risks and uncertainties, certain of which are beyond Calyx's control including general business, economic, competitive, political and social uncertainties; the delay or failure to receive regulatory approvals, the characteristics and viability for bio-fuel development, the willingness of third parties to conclude agreements with Calyx on terms that are acceptable to management of Calyx, the need for additional financing, and the volatility of our common share price and volume.

Such forward-looking statements or information are based on a number of assumptions which may prove to be incorrect. In addition to other assumptions identified in this news release, assumptions have been made regarding, among other things, commodity prices, operating conditions, capital and other expenditures, and project development activities.

Although Calyx believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because Calyx can give no assurance that such expectations will prove to be correct. Forward-looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Calyx and described in the forward-looking statements or information.

The forward-looking statements or information contained in this news release are made as of the date hereof and Calyx undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise unless so required by applicable securities laws or the TSX Venture Exchange. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

This press release shall not constitute an offer to sell, nor the solicitation of an offer to buy, any securities in the Unites States, nor shall there be any sale of securities mentioned in this press release in any state in the United States in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.