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VANCOUVER, BC, Sept. 14, 2021 /CNW/ – Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) (“Pontus” or the “Firm“) is happy to announce a non-brokered personal placement consisting of as much as a most of 31,250,000 models of the Firm (every, a “Unit“) at a subscription worth of $0.16 per Unit for gross proceeds as much as a most of $5,000,000 (the “Providing“). Every Unit will consist of 1 widespread share within the capital of the Firm (every, a “Share“) and one Share buy warrant (every, a “Warrant“), with every Warrant entitling the holder thereof to amass one extra share (every, a “Warrant Share“) at a worth of $0.30 per Warrant Share for a interval of two years from the date of issuance. The Providing might shut in a single for extra tranches.
The proceeds from the Providing are anticipated for use for normal working capital functions. Finder’s charges could also be payable in reference to the Providing in accordance with the insurance policies of the TSX Enterprise Change (the “Change“).
All securities issued in reference to the Providing shall be topic to a statutory maintain interval expiring 4 months and in the future after closing of the Providing. Completion of the Providing is topic to plenty of situations, together with, with out limitation, receipt of all regulatory approvals, together with approval of the Change.
Not one of the securities to be issued in reference to the Providing shall be or have been registered underneath america Securities Act of 1933, as amended (the “1933 Act“), and none could also be provided or offered in america absent registration or an relevant exemption from the registration necessities of the 1933 Act. This press launch is being issued pursuant to Rule 135c of the 1933 Act and shall not represent a proposal to promote or a solicitation of a proposal to purchase, nor shall there be any sale of the securities, in any state the place such provide, solicitation or sale can be illegal.
About Pontus Protein Ltd.
Pontus Protein Ltd. is a Vancouver, B.C. primarily based agricultural expertise firm that may allow hundreds of thousands to rethink their meals selections whereas serving to individuals do the world a world of fine. By providing sustainably grown plant primarily based meals choices which might be nutritious and scrumptious, we’re serving to this sort of eating regimen turn out to be the norm.
Pontus is reinventing agriculture with their proprietary Closed Atmosphere Vertical Aquaponic System (CEVAS) – the farming of the longer term. Pontus specializes within the indoor vertical farming of water lentils that use 95% much less water than conventional agriculture and no pesticides or chemical substances. Pontus is dedicated to fixing the worldwide meals disaster by offering entry to sustainable indoor biosecure pure plant primarily based proteins. Pontus’ water lentils could be harvested each 24 hours, exceed natural certification, and could be grown in any local weather in a comparatively small space. Our water lentil protein is stuffed with antioxidants, minerals, nutritional vitamins and all of the amino acids, making an entire protein meals supply. Pontus goals to revolutionize the plant primarily based sector as the complete sector is at present primarily based on two fundamental protein sources: soy and pea. Water lentil protein is way superior to pea and soy protein. It comprises over 40% protein vs. 5-36% protein*, and Pontus goals to be the bottom protein for plant primarily based meals merchandise, resulting in the motion transitioning the world from meat primarily based to plant primarily based proteins.
To be taught extra, please go to pontuswaterlentils.com.
On behalf of the Board of Administrators
“Connor Yuen”
Connor Yuen, CEO
Pontus Protein Ltd.
Ahead-Trying Info
Sure statements on this launch are forward-looking statements, which mirror the expectations of administration relating to the Firm. Ahead-looking statements include statements that aren’t purely historic, together with any statements relating to beliefs, plans, expectations or intentions relating to the longer term, together with however not restricted to, the anticipated use of proceeds of the Providing by the Firm and Pontus’ means to revolutionize the plant primarily based sector and allow hundreds of thousands to rethink their meals selections. Such statements are topic to dangers and uncertainties which will trigger precise outcomes, efficiency or developments to vary materially from these contained within the statements, together with dangers associated to elements past the management of the Firm. These dangers embody, however aren’t restricted to, the next: the unknown magnitude and period of the consequences of the COVID-19 pandemic, the failure of Pontus to obtain Change approval for the Providing, the failure of Pontus to obtain the required approvals from the Canadian Meals Inspection Company for its merchandise and services, the lack to finish Pontus’ Surrey Facility, in addition to different normal enterprise, financial, or market associated dangers past the director management of the Firm and which can have an effect on the Firm’s enterprise, operations, or merchandise. No assurance could be provided that any of the occasions anticipated by the forward-looking statements will happen or, in the event that they do happen, what advantages the Firm will get hold of from them. The Firm undertakes no obligation to replace forward-looking info if circumstances or administration’s estimates or opinions ought to change, until required by regulation. The reader is cautioned to not place undue reliance on forward-looking info.
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) settle for duty for the adequacy or accuracy of this launch.
SOURCE Pontus Protein Ltd.
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