Beyond Oil Delivers January Order Sized 10.8T to Latitude as Part of Master Distribution Agreement
February 05 2025 - 4:20PM
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 successfully delivered the first order under
its previously announced Master Distribution Agreement with
Latitude Ltd. (“
Latitude”).
The first shipment, totaling 10.8 tonnes (T) of
the Beyond Oil product, was delivered in January 2025 as part of
Latitude’s minimum monthly purchase commitment under the agreement.
The payment for the January order was also received in full,
marking the first step in a strategic collaboration that includes
minimum purchase commitments totaling US$8.3 million during the
fiscal year 2025, as part of a five-year agreement.
Jonathan Or, CEO of Beyond Oil, commented: “The
successful delivery of our first order to Latitude represents a
significant milestone as we begin to execute on our shared vision
in the U.S. food service industry. The delivery highlights the
seamless integration of Latitude’s logistics and distribution
capabilities, which will play a key role in scaling our presence
across the United States. We are thrilled with the positive start
to this partnership and look forward to the continued momentum
throughout the year.”
The collaboration between Beyond Oil and
Latitude is focused on rapidly expanding market penetration in the
United States, leveraging Latitude’s established sub-distributor
network and expertise in logistics. This partnership positions
Beyond Oil to reach all customer levels, from small and
medium-sized businesses to high-profile restaurant groups, while
maintaining cost-efficient operations.
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
Contacts:
Beyond Oil Ltd.Jonathan OrCEO
and Co-founderPhone: +972 52-601-0680info@beyondoil.co
ARX | Capital Markets AdvisorsNorth American
Equities Deskbeyondoil@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.
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