/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Sept. 14, 2021 /CNW/ - Pontus Protein Ltd.
(TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the
"Company") is pleased to announce a non-brokered private
placement consisting of up to a maximum of 31,250,000 units of the
Company (each, a "Unit") at a subscription price of
$0.16 per Unit for gross proceeds up
to a maximum of $5,000,000 (the
"Offering"). Each Unit will consist of one common share in
the capital of the Company (each, a "Share") and one Share
purchase warrant (each, a "Warrant"), with each Warrant
entitling the holder thereof to acquire one additional share (each,
a "Warrant Share") at a price of $0.30 per Warrant Share for a period of 2 years
from the date of issuance. The Offering may close in one for more
tranches.
The proceeds from the Offering are expected to be used for
general working capital purposes. Finder's fees may be payable in
connection with the Offering in accordance with the policies of the
TSX Venture Exchange (the "Exchange").
All securities issued in connection with the Offering will be
subject to a statutory hold period expiring four months and one day
after closing of the Offering. Completion of the Offering is
subject to a number of conditions, including, without limitation,
receipt of all regulatory approvals, including approval of the
Exchange.
None of the securities to be issued in connection with the
Offering will be or have been registered under the United States Securities Act of
1933, as amended (the "1933 Act"), and none may be
offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of the 1933 Act. This press release
is being issued pursuant to Rule 135c of the 1933 Act and shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of the securities, in any state where
such offer, solicitation or sale would be unlawful.
About Pontus Protein Ltd.
Pontus Protein Ltd. is a Vancouver,
B.C. based agricultural technology company that will enable
millions to rethink their food choices while helping people do the
world a world of good. By offering sustainably grown plant based
food options that are nutritious and delicious, we're helping this
kind of diet become the norm.
Pontus is reinventing agriculture with their proprietary Closed
Environment Vertical Aquaponic System (CEVAS) – the farming of the
future. Pontus specializes in the indoor vertical farming of water
lentils that use 95% less water than traditional agriculture and no
pesticides or chemicals. Pontus is committed to solving the global
food crisis by providing access to sustainable indoor biosecure
pure plant based proteins. Pontus' water lentils can be harvested
every 24 hours, exceed organic certification, and can be grown in
any climate in a relatively small area. Our water lentil protein is
filled with antioxidants, minerals, vitamins and all the amino
acids, making a complete protein food source. Pontus aims to
revolutionize the plant based sector as the entire sector is
currently based on two main protein sources: soy and pea. Water
lentil protein is far superior to pea and soy protein. It contains
over 40% protein vs. 5-36% protein*, and Pontus aims to be the base
protein for plant based food products, leading to the movement
transitioning the world from meat based to plant based
proteins.
To learn more, please visit pontuswaterlentils.com.
On behalf of the Board of Directors
"Connor Yuen"
Connor Yuen, CEO
Pontus Protein Ltd.
Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, the anticipated use of proceeds of
the Offering by the Company and Pontus' ability to revolutionize
the plant based sector and enable millions to rethink their food
choices. Such statements are subject to risks and uncertainties
that may cause actual results, performance or developments to
differ materially from those contained in the statements, including
risks related to factors beyond the control of the Company. These
risks include, but are not limited to, the following: the unknown
magnitude and duration of the effects of the COVID-19 pandemic, the
failure of Pontus to receive Exchange approval for the Offering,
the failure of Pontus to receive the necessary approvals from the
Canadian Food Inspection Agency for its products and facilities,
the inability to complete Pontus' Surrey Facility, as well as other
general business, economic, or market related risks beyond the
director control of the Company and which may affect the Company's
business, operations, or products. No assurance can be given that
any of the events anticipated by the forward-looking statements
will occur or, if they do occur, what benefits the Company will
obtain from them. The Company undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change, unless required by law. The
reader is cautioned not to place undue reliance on forward-looking
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Pontus Protein Ltd.