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Beyond Oil Announces Exercise of Warrants and Purchase of Warrant Shares by Clal Insurance
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 12, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: B...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Announces Exercise of Warrants and Purchase of Warrant Shares by Clal InsuranceBeyond Oil Receives C$2.166M in Warrant Exercise Proceeds from 1,836,766 Warrants \n\n\n\n VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 12, 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, today announced that members of the Or family have exercised a total of 1,836,766 warrants, 1,751,647 of which had an exercise price at C$1.18 per warrant and 85,119 of which had an exercise price of C$1.75 per warrant, for gross proceeds of C$2,215,901.71 to the Company.\n \n\n As part of the previously announced strategic investment agreement with Clal Financial Management (\"\n \n Clal\n \n \"), a subsidiary of Clal Insurance Enterprises Holdings Ltd., Clal has purchased all of the resulting 1,836,766 common shares from the Or family at a price of C$3.498 per share, in accordance with the terms disclosed in the Company's news release dated March 12, 2025, for a total of C$6,421,509.47.\n \n\n Further to the news release of the Company dated May 1, 2025, with this exercise of warrants by the Or family, Beyond Oil has now received an aggregate of C$7,007,043.12 in warrant exercise proceeds since January 1, 2025.\n \n\n Additionally, further to the Company’s news releases dated April 23, 2025, and March 12, 2025, the Company would like to update that it expects the previously announced brokered private placement of up to C$10.85 million, led by Clal, to close on or before Tuesday, May 20, 2025.\n \n\n\n About Beyond Oil Ltd.\n \n\n 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. T...