BEYOND OIL LTD Stock Price, News & Analysis

Beyond Oil and its Israeli distributor, Fandango Collection & Recycling , report significant progress in the Israeli market. Fandango has placed a second major order following successful customer conversions and growing sales. The company's product, which reduces health risks associated with fried food and lowers operational costs, has gained traction among restaurants, chains, and industrial kitchens.

Key highlights:

• Fandango reports 50% reduction in frying oil consumption among customers
• Improved food quality and safer work environments noted by users
• Growing awareness of health risks associated with reused frying oil
• Fandango led a recent C$2.5 million private placement in Beyond Oil
• Beyond Oil's product extends oil life while meeting food quality and safety requirements

Beyond Oil has successfully closed a non-brokered private placement, raising C$2.5 million at C$1.05 per unit. The funding includes a lead order from Fandango Collection & Recycling, Beyond Oil's distributor in Israel. Each unit comprises one common share and one-half of a share purchase warrant, exercisable at C$1.75 for one year. Notably, Fandango's senior management and shareholders participated in the offering. The funds will support Beyond Oil's growth and innovation in the food-tech sector. Additionally, insiders of Beyond Oil invested C$240,270.52, with C$171,237.52 from the company's president and founder. The proceeds will be used for general corporate purposes, and the issued securities are subject to a hold period of four months plus one day.

Beyond Oil aims to revolutionize the food oil industry with its innovative filtration powder, which extends frying oil's lifespan, reduces waste, and enhances food safety. The company achieved a milestone by shipping 16 tons of its product to Fandango in May 2023. Beyond Oil's solutions are backed by patents and regulatory approvals from the FDA and Health Canada, ensuring compliance with food-grade specifications.

Beyond Oil (CSE:BOIL, OTCQB:BEOLF), a food-tech innovation company, announced a non-brokered private placement of up to 2,380,952 units at C$1.05 per unit, targeting gross proceeds of up to C$2.5 million. Each unit includes one common share and one-half of a share purchase warrant, exercisable at C$1.75 per share for one year. The proceeds will be used for general corporate purposes. The offering may include a 6% commission in cash and warrants for eligible persons. Securities will have a four-month hold period and insider participation is capped at 15%. The offering is subject to customary closing conditions and necessary approvals.

Beyond Oil announced a new supply agreement with the master franchisee of a major global fast-food chain in Israel, marking its second international fast-food customer. The agreement, effective June 4, 2024, signifies an initial rollout of Beyond Oil's product over the coming months, with full implementation expected thereafter. This move aims to enhance food quality, reduce operational costs, and minimize waste. The agreement lasts for 36 months with automatic extension provisions. This follows another recent deployment of Beyond Oil's product with another large fast-food chain, highlighting the company's global expansion strategy.

Beyond Oil has announced successful Proofs of Concept at major fried food manufacturers in the USA and Canada, marking key steps toward full-scale commercialization in the industrial frying market. Collaborating with leading filtration system companies, Beyond Oil aims to provide an efficient, integrated oil filtration solution. Recent tests showed Beyond Oil's product exceeded expectations, particularly in improving treated oil flow rates. The company targets the North American market, backed by strategic partnerships and a growing presence in the food service sector. CEO Jonathan Or highlighted the health and sustainability benefits, as well as the cost savings of their product. The industrial frying market is poised for growth, with the North American frozen French fries market expected to reach $8.1 billion by 2028. Beyond Oil's innovative filtration powder, protected by patents, extends oil life, reduces environmental impact, and promotes public health.

Beyond Oil announced collaboration with renowned Chef Israel Aharoni, who endorsed Beyond Oil's product after a successful six-month pilot program. Chef Aharoni, a prominent figure in Israel's culinary scene, highlighted the product's effectiveness in removing oil impurities, improving food quality, and extending oil life. Beyond Oil aims to address the health risks associated with reused frying oil, a widespread practice in the food industry linked to serious health issues like cancer and cardiovascular diseases. The company's innovative filtration powder, protected by patents, absorbs degradation compounds from fried oil, promoting sustainability and reducing environmental impact. Beyond Oil's solution offers significant cost savings for restaurants and has received regulatory approvals from the FDA and Health Canada.

Beyond Oil announces a successful product rollout in Israel with one of the world's largest fast-food chains. The company's innovative product is set for full-scale adoption following pilot programs, demonstrating substantial improvements in frying oil and food quality. Beyond Oil is strategically positioned for global expansion, with active discussions ongoing with multiple franchisees worldwide. The company's solution addresses health risks associated with reusing frying oil and contributes to environmental sustainability.