Business
Correction: Beyond Oil Receives an Additional C$4.5 Million Through Warrant Exercises; Provides an Update on RBI Supplier Approval & US Team Expansion
VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 01, 2025 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: B...
About this update from Beyond Oil Ltd
[{"type":"text","content":"Correction: Beyond Oil Receives an Additional C$4.5 Million Through Warrant Exercises; Provides an Update on RBI Supplier Approval & US Team ExpansionFunds to Support Continued Global Expansion as Company Scales Across International Markets\n\n\n\n VANCOUVER, BC and KIBBUTZ YIFAT, Israel, May 01, 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 that since January 1, 2025, it has received an aggregate of C$4,497,304.66 in proceeds from the exercise of a of 3,399,271 warrants that were previously issued in May 2022 and June 2024.\n \n\n The proceeds from these warrant exercises are expected to provide additional capital to support the Company's global growth strategy, which has seen substantial progress in recent months through new distribution agreements, product shipments, and expansions into multiple international markets.\n \n\n \"The exercise of these warrants demonstrates strong investor confidence in Beyond Oil's business model and growth trajectory,\" said Jonathan Or, CEO of Beyond Oil. \"This additional capital strengthens our financial position as we continue to expand our global footprint and accelerate commercial deployment of our solution across the globe. Combined with the C$1.77 million proceeds from the exercise of warrants which was\n \n announced\n \n last November, these proceeds represent continued strong support from our investors and stakeholders.”\n \n\n\n Clarification Regarding News Release Dated March 7, 2025\n \n\n\n The Company also wishes to provide the following clarification in relation to its\n \n news release\n \n dated March 7, 2025. Beyond Oil wishes to confirm that, following a successful extended pilot and implementation period with Burger King Israel, Restaurant Brands International (“\n \n RBI\n \n ”) has approved Burger King Israel’s request to supply and use the Beyond Oil product across its restaurants. Burger King Israel is now an official customer of Beyond Oil.\n \n\n The Company would like to clarify that its approval for supply of its product to Burger King Israel do...