First Direct Sale into Asia Marks a Significant Commercial Milestone in Beyond Oil’s Accelerating Global Expansion Strategy
VANCOUVER, B.C. and KIBBUTZ YIFAT, ISRAEL , Nov. 13, 2024 (GLOBE NEWSWIRE) -- Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“Beyond Oil” or the “Company”), 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 it has achieved a significant commercial milestone with its first direct purchase order from Asia. This purchase order marks Beyond Oil’s first direct sale in the Asian markets as part of its accelerating global expansion strategy.
Hap Chan, a leading Philippine-based restaurant chain with notable market recognition, boasts over 100 branches. Hap Chan has placed an initial order of 10,000+ daily-use units of the Beyond Oil filter powder, which it plans to integrate into all kitchens across the chain.
The purchase order follows the successful completion of an extensive joint pilot program between Beyond Oil and Hap Chan, conducted as a result of the public endorsement of the Beyond Oil product by renowned Chef Israel Aharoni. Chef Aharoni has become a valued customer through Beyond Oil’s exclusive distributor in Israel, Fandango Collection & Recycling Ltd.
Daniel Lazar, CEO of Hap Chan, remarked: “We are excited to announce that, after extensive testing, Hap Chan locations are adopting Beyond Oil’s advanced filtration powder, which specializes in improving oil usage efficiency and quality—a significant step toward enhanced health standards and sustainability within Hap Chan kitchens.”
Jonathan Or, CEO of Beyond Oil, commented: “We are extremely proud of our continued penetration of the restaurant markets in Asia, one of the largest, most populated regions in the world. Our global market penetration strategy is producing significant results and Beyond Oil remains strongly committed to accelerating the pace and geographic scope of our expansion in Asia and beyond, targeting new pilots and sales in additional international markets. We're glad to welcome Daniel Lazar and his team at Hap Chan to the Beyond Oil family as an important first step into this dynamic continental market.”
About Beyond Oil Ltd.
Beyond Oil Ltd. is an innovative food tech company in the health sector, with over 15 years dedicated to game-changing solutions and has registered patents in Israel, the USA and Europe, as well as clearance from the FDA, the Ministry of Health in Israel and Health Canada. The Beyond Oil product mitigates cancer and cardiovascular risks in fried and processed foods consumed in our day-to-day lives. Beyond Oil provides a disruptive solution for food-processing and food-service companies striving to produce & serve healthier food, increase sustainability, while improving food quality and saving their costs. For more information, visit our website at: www.beyondoil.co.
About Hap Chan
Hap Chan Tea House & Restaurants began as a humble tea house in the Philippines in the early 1990s, gaining a loyal following for its authentic Hong Kong-style tea, dim sum and Cantonese dishes. The brand’s commitment to traditional Chinese cuisine led to steady growth, and by the 2000s, Hap Chan had become one of the country’s leading Chinese restaurant chains. Today, with 100 branches across the Philippines, Hap Chan continues to uphold its core values of quality, authenticity, and excellent service as it explores new innovations to elevate its dining experience. For more information, visit their website at: https://www.hapchan.com.ph.
Forward Looking Statement and Information
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains “forward-looking statements” within the meaning of the securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management’s current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management’s expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will be issued as a result of a pending patent application or, if issued, whether it will be issued in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time at sedarplus.ca. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.
Jonathan Or CEO and Co-founder info@beyondoil.com ARX | Capital Markets Advisors North American Equities Desk beyondoil@arxadvisory.com
