VANCOUVER, BC, Dec. 9, 2021 /CNW/ - Pontus Protein Ltd. (TSXV:
HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the
"Company") is pleased to announce Mark Arathoon as Head of Product Development. In
addition, the Company has secured Blue Ocean Tea Company ("Blue
Ocean"), to advise on contract packing, production distribution and
certifications.
Pontus is pleased to announce it has agreed to terms with
Mark Arathoon, to become Head of
Product Development. Arathoon is a fourth-generation tea expert who
has built relationships with global suppliers and has developed
ready to drink products for Numi Organic Tea, Starbucks, Revolution
Tea, Justea Beverages, Wize and several other North American and
International brands. He will support not only product development
but also business development. Pontus entered into an LOI with
Arathoon's company Blue Ocean, in March
2021, and both companies have continued fruitful
negotiations in good faith.
Concurrent with Arathoon's appointment, Pontus has entered into
a definitive agreement with Blue Ocean to advise on contract
packing and production. Blue Ocean holds strategic food
certifications, is Rainforest Alliance certified, and a Global Food
Safety Initiative member. Blue Ocean will package sachets of Pontus
Powder and produce added-value products to enable early access of
Pontus into the market. The team will also support Pontus as it
seeks to secure the highest global product standards, which will,
in turn, support a premium price for the products and a broad
distribution network.
Pontus will enter into a contract manufacturing agreement once
production starts.
Mark Arathoon commented, "I
reached out to Pontus when I saw what a novel technology they had
developed. When I tasted the product and saw the nutritional
profile, I knew this was something I wanted to be part of. I am
very pleased to be heading up Product Development and using my
experience and networks to get the widest distribution for the
product."
Connor Yuen, Pontus' CEO, added,
"I am so pleased that Mark has joined us as Head of Product
Development. Our work together since the LOI has been very
productive. His experience in global product development and
distribution and his excitement around Pontus makes Mark and Blue
Ocean the best partners as we launch our first products."
About Pontus Protein Ltd.
Pontus Protein Ltd. is a Vancouver,
B.C. based agricultural technology company that will enable
millions to rethink their food choices while helping people do the
world a world of good. By offering sustainably grown plant based
food options that are nutritious and delicious, we're helping this
kind of diet become the norm.
Pontus is reinventing agriculture with their proprietary Closed
Environment Vertical Aquaponic System (CEVAS) – the farming of the
future. Pontus specializes in the indoor vertical farming of water
lentils that use 95% less water than traditional agriculture and no
pesticides or chemicals. Pontus is committed to solving the global
food crisis by providing access to sustainable indoor biosecure
pure plant based proteins. Pontus' water lentils can be harvested
every 24 hours, exceed organic certification, and can be grown in
any climate in a relatively small area. Our water lentil protein is
filled with antioxidants, minerals, vitamins and all the amino
acids, making a complete protein food source. Pontus aims to
revolutionize the plant based sector as the entire sector is
currently based on two main protein sources: soy and pea. Water
lentil protein is far superior to pea and soy protein. It contains
over 40% protein vs. 5-36% protein*, and Pontus aims to be the base
protein for plant based food products, leading to the movement
transitioning the world from meat based to plant based
proteins.
To learn more, please visit pontuswaterlentils.com.
On behalf of the Board of Directors
"Connor Yuen"
Connor Yuen, CEO
Pontus Protein Ltd.
Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect management's expectations regarding the
Company. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, including
but not limited to, the new Head of Product Development's role and
impact on the business of the Company; the agreement with Blue
Ocean, its terms and anticipated benefits; that Pontus will enter
into a contract manufacturing agreement once production starts, and
Pontus' ability to revolutionize the plant based sector and enable
millions to rethink their food choices. Such statements are subject
to risks and uncertainties that may cause actual results,
performance or developments to differ materially from those
contained in the statements, including risks related to factors
beyond the control of the Company. These risks include, but are not
limited to, the following: the unknown magnitude and duration of
the effects of the COVID-19 pandemic, that results from the
agreement with Blue Ocean will be different than expected, the
failure of Pontus to receive the necessary approvals from the
Canadian Food Inspection Agency for its products and facilities,
the inability to complete Pontus' Surrey Facility, as well as other
general business, economic, or market related risks beyond the
director control of the Company and which may affect the Company's
business, operations, or products. No assurance can be given that
any of the events anticipated by the forward-looking statements
will occur or, if they do occur, what benefits the Company will
obtain from them. The Company undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change, unless required by law. The
reader is cautioned not to place undue reliance on forward-looking
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accept responsibility for the adequacy or accuracy of
this release.
SOURCE Pontus Protein Ltd.
