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Beyond Oil Announces Closing of C$10.64 Million Brokered Private Placement Led by Israeli Institutional Investor Clal Insurance
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 21, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: B...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Announces Closing of C$10.64 Million Brokered Private Placement Led by Israeli Institutional Investor Clal Insurance\n\n\n\n VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 21, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (\"\n \n Beyond Oil\n \n \" or the \"\n \n Company\n \n \"), 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 successful closing of its previously announced brokered private placement for gross proceeds of C$10,641,615.60 (the \"\n \n Offering\n \n \").\n \n\n The Offering, first\n \n announced\n \n on March 12, 2025, was led by Clal Insurance Company Ltd., a subsidiary of Clal Insurance Enterprises Holdings Ltd., one of Israel's largest institutional investors, and its subsidiaries (\"\n \n Clal\n \n \"), and an  Israeli based investment fund. Both Clal and the investment fund are arm’s length third parties to the Company. Research Capital Corporation (the “\n \n Agent\n \n ” or “\n \n Research Capital\n \n ”) acted as sole agent and sole bookrunner for the Offering.\n \n\n \"The successful completion of this strategic investment represents an important moment for Beyond Oil,\" said Jonathan Or, CEO of Beyond Oil. \"Securing the backing of a major institutional investor like Clal not only validates our technology and business model but also provides us with further capital needed to accelerate our global expansion initiatives. This investment comes at a pivotal time as we continue to gain traction with major food service companies and distributors worldwide.\"\n \n\n Pursuant to the Offering, the Company issued a total of 3,042,200 units units (“\n \n Units\n \n ”) at a price of C$3.498 per unit (the “\n \n Issue Price\n \n ”). Each Unit consists of:\n \n\n\n One common share in the capital of Beyond Oil (“\n \n Common Shares\n \n ”);\n \n\n One-half of a Series A Warrant, where each whole warrant entitles the holder to purchase one additional Common Share at CAD$6.00 per share until March 12, 2027; and\n \n\n One-half of a Series B Warrant, where each whole warrant entitles the holder to purchase one additional Common Share at CAD$...