VANCOUVER, BC and KIBBUTZ YIFAT, Israel, March 19, 2025 (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 signed its first distribution agreement (the "Agreement") in Portugal with Serious Formula Ltd ("Serious Formula" or the "Distributor"), a Lisbon-based company specializing in the foodservice and hospitality sectors.
Under the terms of the agreement, Serious Formula Ltd. will market, distribute, and sell Beyond Oil's proprietary oil filtration solution to restaurants, hotels, catering companies, and institutional food providers across Portugal. The agreement includes an initial order of 1,080 kg of Beyond Oil's product and establishes a structured expected purchasing plan including minimum estimated commitments of €1.13 million over the agreement's five-year term*.
Jonathan Or, CEO of Beyond Oil, commented: "We are excited to enter the Portuguese market, an important step in our ongoing global expansion strategy. Portugal's foodservice industry is known for its deep culinary traditions and its commitment to quality and sustainability. Our partnership with Serious Formula Ltd. aims to bring Beyond Oil's unique filtration technology to local businesses, helping them reduce oil consumption, improve food quality, and enhance operational efficiency. We look forward to supporting our distributor in introducing Beyond Oil to this dynamic market."
Jivá Remtula, CEO of Serious Formula, added: "As restaurant and hotel owners ourselves, we understand the important impact Beyond Oil's product can have on our industry. In today's world, sustainability and food safety are becoming increasingly critical, and Beyond Oil presents a rare opportunity to achieve these goals while also reducing costs. We are proud to be at the forefront of this shift in Portugal's food sector."
This agreement marks Beyond Oil's first commercial presence in Portugal, adding to the company's growing international footprint. Serious Formula Ltd. is positioned to leverage its extensive network in the Portuguese restaurant and hospitality industries to accelerate market adoption. As part of the agreement, the distributor will implement structured marketing and training programs, engage with key wholesalers, and conduct in-market product demonstrations to drive adoption.
*The projected revenues disclosed herein and included in the agreement are contingent on the Distributor fulfilling its minimum purchase obligations, including payment. Beyond Oil retains the right to terminate the agreement if the minimum commitments are not met by the Distributor. Furthermore, projected revenues do not reflect profits, as they are subject to variable factors, including operational costs, licensing fees, market conditions, and other factors in the Forward-Looking Statement below. Readers should take note that significant differences may occur in any future potential bottom-line figures.
About Beyond Oil Ltd.
Beyond Oil Ltd. is a food-tech innovation company with over 15 years of dedication to creating solutions that mitigate health risks, improve sustainability, and reduce costs for food service companies. The Company's patented technology, with regulatory clearances from the FDA and Health Canada, significantly reduces harmful compounds in frying oil, addressing critical health concerns. Beyond Oil's solution tackles a global issue in the food industry: the widespread practice of reusing frying oil for hundreds of cycles across several days. This practice is common in restaurant kitchens, hotels, catering services, banquet halls, fried food manufacturing plants, and institutions such as schools, kindergartens, and military facilities. Beyond Oil's product is backed by extensive research which has highlighted its value in health risks associated with reused oil, including links to cancer and cardiovascular diseases. Beyond Oil's product provides an effective means to mitigate these risks while offering additional benefits such as improved food quality, operational cost savings, and reduced environmental impact. For more information about Beyond Oil, please Visit: www.beyondoil.co
About Serious Formula Ltd.
Serious Formula Ltd. is a dedicated distribution company founded by a group of entrepreneurs with over 30 years of experience across three continents in industries including restaurants, hotels, real estate brokerage, and food distribution. The group's restaurant brands, Totale & Bresca, operate in Portugal and Spain, while its hospitality and real estate businesses have a significant presence in both Portugal and Africa. With a focus on introducing innovative solutions that enhance food quality, reduce costs, and promote sustainability in the foodservice sector, Serious Formula Ltd. was established to develop and manage the distribution of Beyond Oil in Portugal.
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.
Contacts:
Beyond Oil Ltd.
Jonathan Or
CEO and Co-founder
Phone: +972 52-601-0680
info@beyondoil.co
ARX | Capital Markets Advisors
North American Equities Desk
beyondoil@arxadvisory.com
Serious Formula Ltd.:
Jiva Remtula
Managing Director
Phone: +351 964 363 629
