Beyond Oil Announces Strategic Investment at a Premium to Market Price by Clal Insurance, a Leading Israeli Institutional Investor, as Part of Potential Uplisting to a Senior Exchange
Clal Insurance to invest approximately CAD $10.5 million in Beyond Oil at a 10% premium to its stock market trading price, with potential follow-on investment through the exercise of warrants; Beyond Oil commits to pursuing a potential uplisting to a senior exchange in Canada or the U.S.
NEW YORK, New York, KIBBUTZ YIFAT, Israel and VANCOUVER, BC, , March 12, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“Beyond Oil” or the “Company”), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, minimizing waste and enhancing sustainability, is pleased to announce that it has today entered into a strategic investment agreement (the “Agreement”) with Clal Financial Management (“Clal”), a subsidiary of Clal Insurance Enterprises Holdings Ltd., one of Israel’s largest and most prominent institutional investors.
Under the terms of the Agreement, which was approved by the independent directors of Beyond Oil’s board on March, 12, 2025, Clal will invest (the “Investment”) CAD $10,494,000 million (the “Gross Proceeds”) to acquire 3,000,000 units of Beyond Oil at an issue price of CAD $3.498 per unit (the “Issue Price”), representing a 10% premium to the closing price on March 11th, 2025 of CAD $3.18. Each unit consists of:
One common share in Beyond Oil
One-half of a Series A Warrant, where each whole warrant entitles Clal to purchase one additional common share at CAD $6.00, for a period of 24 months.
One-half of a Series B Warrant, where each whole warrant entitles Clal to purchase one additional common share at CAD $7.75, for a period of 36 months
The investment is subject to the approval of the Canadian Securities Exchange and other closing conditions as are customary for Canadian private placements.
If Clal exercises all the Series A Warrants and all the Series B Warrants, it would acquire an additional 3,000,000 common shares of Beyond Oil, representing a potential further investment of up to approximately CAD $21 million. A finder’s fee in an amount equal to 2% of the Gross Proceeds will be payable upon closing of the Investment. No securities are payable as a finder’s fee.
The Gross Proceeds, net of the finder’s fee, will be used to expand and support the distribution of the Company’s products as disclosed in the Company’s recent press releases.
The purchase and sale of the units will be completed through a brokered private placement (which may include the sale of up to an additional 100,000 units), facilitated by a Canadian registered broker-dealer, in compliance with the regulations of the relevant securities exchange, and applicable Canadian securities laws. A further press release with details about the broker dealer will be forthcoming. As part of the Agreement, Clal has also committed to purchasing 1,836,766 previously issued warrants from members of the Or family at a price equal to the Issue Price (the “Warrant Acquisition”), which when completed will result in approximately CAD $2.215 Million additional cash for Beyond Oil. As an additional condition, Beyond Oil has secured an undertaking from the Or family not to sell any of their common shares (other than those covered under the Warrant Acquisition) prior to December 31, 2025.
As part of the Agreement, Beyond Oil has also committed to using its best efforts to complete an uplisting to a senior exchange in Canada or the United States within the next six months.
Jonathan Or, CEO of Beyond Oil, comments: "We are pleased to welcome Clal as a strategic investor in Beyond Oil. As one of Israel’s leading institutional investors, Clal’s investment follows a detailed due diligence process and reflects confidence in our vision, technology, and business potential. This marks an important milestone for Beyond Oil, introducing institutional participation in our company and supporting our continued growth. We look forward to leveraging this strategic investment to expand our market presence and drive long-term value creation."
About Beyond Oil Ltd.
Beyond Oil Ltd. is a food-tech innovation company with over 15 years of dedication to creating solutions that mitigate health risks, improve sustainability, and reduce costs for food service companies. The Company’s patented technology, with regulatory clearances from the FDA and Health Canada, significantly reduces harmful compounds in frying oil, addressing critical health concerns. Beyond Oil’s solution tackles a global issue in the food industry: the widespread practice of reusing frying oil for hundreds of cycles across several days. This practice is common in restaurant kitchens, hotels, catering services, banquet halls, fried food manufacturing plants, and institutions such as schools, kindergartens, and military facilities. Beyond Oil's product is backed by extensive research which has highlighted its value in health risks associated with reused oil, including links to cancer and cardiovascular diseases. Beyond Oil’s product provides an effective means to mitigate these risks while offering additional benefits such as improved food quality, operational cost savings, and reduced environmental impact. For more information about Beyond Oil, please visit: www.beyondoil.co.
About Clal Financial Management
Clal Financial Management is a wholly owned subsidiary of Clal Insurance Enterprises Holdings Ltd., one of Israel’s largest financial institutions and a leading non-banking institutional investor. Clal manages over NIS 361 billion in assets across insurance, pensions, provident funds, and investment portfolios, with a 15% market share in Israel’s insurance sector. Publicly traded on the Tel Aviv Stock Exchange (TASE), Clal provides a broad range of financial services, including life, health, and general insurance, as well as credit and investment solutions. The company is rated ilAA+ by Ma’alot S&P and Aa1 (IFS) by Midroog. For more information, please visit: https://www.clalbit.co.il/investorsrelations/canaf/aboutcanaf/
Forward Looking Statement and Information The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains “forward-looking statements” within the meaning of the securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
