New Partnership Includes Minimum Purchase Commitments for the first 5 Years with Expected Revenue of US$243,000 to be Recognized in Fiscal Year 2025; Agreement Includes Establishment of Dedicated Training Center in Australia
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, Jan. 22, 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 the signing of a Distribution Agreement with T&J Oil Pty Ltd. (“T&J Oil”), based in Perth, Australia. The agreement has a term of five years and marks Beyond Oil’s entry into the Australian market and includes the granting to T&J Oil of exclusivity, subject to T&J Oil, fulfilling its annual minimum quantity purchase commitments, for specific restaurant sectors in Australia.
Under the terms of the agreement, which became effective on January 22, 2025, T&J Oil will serve as the distributor of Beyond Oil’s proprietary oil treatment products for non-chain restaurants and local chains that do not utilize filter machines across Australia. The partnership is expected to help restaurants extend oil life, improve food quality, and reduce waste, aligning with Australia’s push for more sustainable practices in the food service industry.
The agreement includes a aggregate minimum purchase commitments of US$4,947,600 over its five-year term*. For the first year of the agreement, T&J Oil has committed to purchasing a minimum of USD $243,600 worth of Beyond Oil’s products, with subsequent minimum commitments for the following four years increasing substantially. On top of the minimum commitments, the agreement also includes an annual licensing fee, amounting to a total of AUD$100,000 per year.
Additionally, as part of the agreement, Beyond Oil will provide certified training sessions, with T&J Oil establishing a dedicated training center to support regional clients in optimizing their use of the Beyond Oil product.
*This aggregate figure is contingent on T&J Oil fulfilling its annual minimum purchase obligations. Beyond Oil retains the right to terminate the agreement or revoke T&J Oil’s exclusivity arrangement if the annual minimum commitments are not met, something which cannot be guaranteed. Additionally, projected revenues do not reflect profits, as they are subject to variable factors, including operational costs, licensing fees, market conditions, and other factors in the Forward-Looking Statement below. Readers should take note of the fact that significant differces may ocurr in any future potential bottom-line figures as such.
Jonathan Or, CEO of Beyond Oil, commented: “We are excited to partner with T&J Oil to introduce our innovative oil treatment technology to the Australian market. This agreement underscores our commitment to expanding globally and bringing healthier, more sustainable frying solutions to commercial kitchens worldwide. With T&J Oil’s extensive distribution network and experience in the food service industry, we are confident in their ability to drive adoption and maximize the impact of our product across Australia.”
Oren Haas, CEO of TJ Oil, remarked: “We are very excited to take on this new opportunity. We have been exploring and researching Beyond Oil’s revolutionary product for some time now. We are confident in our ability to take on this challenge and help change the oil market. Beyond Oil is at a turning point, with its product being recognized in more and more global markets, and we are very happy to be the chosen team to lead its penetration in Australia. We aim to take on large market share and pursue the rare opportunity to bring change and value to our customers.”
About Beyond Oil Ltd. Beyond Oil Ltd. is a food tech company in the health sector, with over 15 years dedicated to innovative solutions and registered patents in Israel, the USA and Europe, as well as clearance from the FDA, the Ministry of Health in Israel and Health Canada. The Beyond Oil product mitigates cancer and cardiovascular risks in fried and processed foods consumed in our day-to-day lives. Beyond Oil provides a unique solution for food-processing and food-service companies striving to produce & serve healthier food, increase sustainability, while improving food quality and saving their costs. For more information, visit our website at: www.beyondoil.co.
About T&J Oil Pty Ltd. T&J Oil Pty Ltd is an Australian-based company specializing in the distribution, marketing, and sale of products related to cooking and frying for restaurants and industrial kitchens. With a deep understanding of the regional food service landscape, T&J Oil provides tailored solutions to meet the needs of local establishments.
Contacts Jonathan Or CEO and Co-founder Phone: +972 52-601-0680 info@beyondoil.co
ARX | Capital Markets Advisors North American Equities Desk beyondoil@arxadvisory.com
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.
