VANCOUVER, BC, Dec. 7, 2021 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the "Company") is pleased to announce that it has entered into a consulting agreement with Sting Organics Ltd. ("Sting"), a B.C.-based corporation farming Urtica Dioica (common name "stinging nettles"). Sting is hiring Pontus to use stinging nettles to develop products and market research effectively. This is the first step in our feasibility test to help Sting produce Urtica Dioica in a biosecure, aquaponic, automated, sustainable vertical farm utilizing Pontus' IP.
Seva Roberts, Sting's CEO, commented: "Stinging nettles are a leafy green vegetable that has a long history in soups and curries. We need to develop how to use the product and dried ingredient and research and educate the modern population. We were attracted to the team and experience that Pontus has amassed. I am confident working with Pontus that we will have a range of products and recipes, plus research for our go-to-market strategy. "
Chef Shahni, Pontus' Culinary Director, additionally commented: "We will explore the various possibilities of providing nettle in its fresh form and dehydrated powder that can be used for pure nutrition and taste. With Pontus technology of enclosed growing, we can supply the market all year round compared to nettle being a scarce seasonal product. Stinging nettles taste like spinach but are more nutritious than broccoli. Like Pontus' water lentils, Sting can take their nettles and wash and dehydrate them to create a pure, nutritious powder with 29% protein. This is a real challenge to the highly processed pea isolates from a nutrition and flavour point of view."
The consulting agreement includes a monthly fee to Pontus for the services provided. This aligns with Pontus' strategy as a technology leader to provide consulting and licencing opportunities to leverage CEVAS and the current technology stack the company owns. In turn, this will allow Pontus to do further research and development on using CEVAS to grow all different types of crops and create a branch in the company specifically to service companies looking to use CEVAS for their operations worldwide.
Connor Yuen, Pontus' CEO, added, "This is a huge step forward for Pontus being able to generate revenue ahead of our start of production in early 2022."
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.
*https://www.infood.net/visitor/collection/75?portion_size=100
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 anticipated use of proceeds of the Offering, Including those from the Second Tranche, by the Company 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, the failure of Pontus to receive TSX Venture Exchange approval for the closing of the remainder of the Offering, Pontus' inability to close further tranches of the Offering, 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.
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