Business
Beyond Oil Announces Non-Brokered Private Placement
Up to 1.8 Million Common Shares to be Issued at a Price of C$1.50 per Share VANCOUVER, BC an...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Beyond Oil Announces Non-Brokered Private Placement Up to 1.8 Million Common Shares to be Issued at a Price of C$1.50 per Share VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / August 30, 2024/ Beyond Oil Ltd. (CSE:BOIL)(OTCQB:BEOLF) (\"Beyond Oil\" or the \"Company\"), a food-tech innovation company reducing health risks, extending the life of frying oil, reducing costs and waste, is pleased to announce that it intends to undertake a non-brokered private placement (the \"Offering\") of up to 1,800,000 common shares in the capital of the Company (each, a \"Common Share\") at a purchase price of C$1.50 per Common Share, for total gross proceeds of up to C$2.7 million.The Company intends to use the net proceeds from the Offering for general corporate purposes.In connection with the Offering, the Company may pay certain eligible persons a 6% cash commission. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing in accordance with applicable securities laws. The Offering is subject to customary closing conditions including, but not limited to, the receipt of all necessary approvals, including the acceptance of the CSE.The securities to be issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act.About Beyond Oil Ltd.Beyond Oil is a health food-tech company specializing in the health sector. Over the course of 15 years, it has developed a formula comprised of food additives that create an innovative filter powder, protected by a patent. This formula effectively absorbs degradation components from fried oil, slows down the rate of deterioration reactions, and, through a straightforward filtration process, enables the oil to be reused while preserving its quality. Beyond Oil's solution represents a significant global advancement in safeguarding the health of diners and kitchen workers in factories or restaurants that reuse the same oil over an extended period. The integration of Beyond Oil technology in restaurants, hotels, caterers, and factory operations not only enhances public health, social responsibil...