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Beyond Oil Receives an Additional C$4.5 Million Through Warrant Exercises; Provides an Update on RBI Supplier Approval & US Team Expansion
Globenewswireยท 2025-05-01 20:30
Core Insights - Beyond Oil Ltd. has successfully raised C$4,497,304.66 from the exercise of 3,399,271 warrants, indicating strong investor confidence and financial support for its global growth strategy [1][2][3] Financial Performance - The proceeds from the warrant exercises will bolster the company's financial position and support its expansion efforts, which have included new distribution agreements and product shipments [2][3] Business Development - Beyond Oil has secured Burger King Israel as an official customer following a successful pilot program, although this does not grant an exclusive agreement with Restaurant Brands International [4][5] - The company has expanded its US team by adding four members with significant industry experience, enhancing its operational capabilities and market penetration efforts [6] Product and Technology - Beyond Oil focuses on reducing health risks associated with reused frying oil, which is prevalent in the food service industry, and its patented technology has received regulatory clearances from the FDA and Health Canada [7]