FUNDS EARMARKED FOR RAPID EXPANSION OF PRODUCTION CAPACITY AND ACCELERATED EXPLORATION OF CARBON SEQUESTRATION AND BIO-FUELS OPPORTUNITIES

CellFor Announces $24,500,000 Financing

Funds earmarked for rapid expansion of production capacity and accelerated exploration of carbon sequestration and bio-fuels opportunities

Vancouver, British Columbia (November 12, 2007) -- CellFor Inc., the leading producer of elite varietal tree seedlings for reforestation, announced the close of a USD$24.5 million round of financing. The round featured strong participation from existing investors and the addition of a number of new private and institutional investors.

"The success of this financing is a testament to the tremendous progress made by CellFor in developing its production technology and demonstrating the value of its products to the market," commented Tom Urban, CellFor's President and Chief Executive Officer.  Urban further noted that "CellFor now has the resources to expand its production and sales capabilities to make and sell more than 100 million seedlings annually.  As an example, we will immediately bring on line a 40,000 square foot facility that will more than triple existing capacity."

CellFor Chairman, Jonathan Malkin, added, "With this increased production base we will be able to meet demand for our elite planting material in North America, South America and Australasia.  In addition, we have begun to aggressively investigate the value of our trees and tissue culture expertise in the environmentally critical areas of carbon sequestration and bio-fuels."

About CellFor

CellFor is the world's leading commercial-scale supplier of high yielding, varietal seedlings for reforestation. The Company's proven and patented propagation technology-in conjunction with somatic embryogenesis-has enabled it to build on decades of traditional tree improvement to produce uniform, fast-growing varieties with highly desirable characteristics.

CellFor supplies naturally selected, varietal pine seedlings that deliver exceptional yield, disease resistance and wood quality characteristics to its customers. The Company's initial markets are pine plantations in the southern United States and South America. CellFor's customers, include 16 of the 20 largest timberland owners in the U.S. as well as mid size companies, consultants, and private landowners.   All forest landowners can grow more and better wood on less land by planting CellFor seedlings. With increased yields, resistance to disease and uniformity brought by CellFor seedlings, landowners can expect increases in per acre timber values of 50-100%.

CellFor has produced and CellFor customers have planted over twenty million elite conifer seedlings in the southeastern U.S., Canada, Chile, New Zealand and Australia. In addition to varieties currently in production, CellFor has more than 100 trial locations and thousands of conifer varieties in multi-year field trials that will continue to yield improved results.

CellFor's principal institutional investors are ATP Capital, CSFB Private Equity, GrowthWorks Capital, and BDC Venture Capital.  The Company has also received strong support from Technology Partnerships Canada.  Headquartered in Vancouver, British Columbia, CellFor has U.S. offices in Georgia, Arkansas and North Carolina.

Contact: Alison Ilg, Ilg Communication for CellFor at (770) 565-5440