Fine Brings Significant Operational Experience from Some of the Largest US-Based Restaurant Chains Bolstering Beyond Oil’s Operational Capabilities as it Scales Globally
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 01, 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 since January 1, 2025, it has received an aggregate of C$4,497,304.66 in proceeds from the exercise of a of 3,399,271 warrants that were previously issued in May 2022 and June 2024.
The proceeds from these warrant exercises are expected to provide additional capital to support the Company's global growth strategy, which has seen substantial progress in recent months through new distribution agreements, product shipments, and expansions into multiple international markets.
"The exercise of these warrants demonstrates strong investor confidence in Beyond Oil's business model and growth trajectory," said Jonathan Or, CEO of Beyond Oil. "This additional capital strengthens our financial position as we continue to expand our global footprint and accelerate commercial deployment of our solution across the globe. Combined with the C$1.77 million proceeds from the exercise of warrants which was announced last November, these proceeds represent continued strong support from our investors and stakeholders.”
Clarification Regarding News Release Dated March 7, 2025
The Company also wishes to provide the following clarification in relation to its news release dated March 7, 2025. Beyond Oil wishes to confirm that, following a successful extended pilot and implementation period with Burger King Israel, Restaurant Brands International (“RBI”) has approved Burger King Israel’s request to supply and use the Beyond Oil product across its restaurants. Burger King Israel is now an official customer of Beyond Oil.
The Company would like to clarify that its approval for supply of its product to Burger King Israel does not provide the Company with an exclusive agreement with RBI, and the product has not automatically opened in the system for use across all RBI franchised brands. RBI franchisees outside of Israel who are interested in using the Beyond Oil product need to submit an individual application to RBI to be added for supply and use in their regions’ restaurants.
Further Updates on Expansion of US Team
Beyond Oil is also pleased to announce that it has further expanded the US team with four additional members who bring industry-specific experience to the Company. These new members have held executive roles in companies involved in oil filtration, kitchen operations, food safety, distribution, and sales to all levels of the food service industry. These new team members are already enhancing the Company’s understanding of the broad set of value propositions Beyond Oil’s products provide, while leveraging their extensive group of contacts and sales experience to help the Company launch numerous pilots. Beyond Oil will continue to provide commercial updates to the market as it continues to penetrate the American market.
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
Forward-Looking Statements 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.
Contacts:
Beyond Oil Ltd. Jonathan Or CEO and Co-founder Phone: +972 52-601-0680 Email: info@beyondoil.co
ARX | Capital Markets Advisors North American Equities Desk Email: beyondoil@arxadvisory.com
