Beyond Oil Welcomes Strategic Investment from Clal Insurance
Strategic Investment Boosts Beyond Oil's Vision
Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9), the innovative food-tech company dedicated to enhancing health and sustainability in cooking practices, has secured a strategic investment from Clal Financial Management, a leading Israeli institutional investor. This investment aligns with Beyond Oil's objective of transforming how cooking oil is managed and utilized across various food service environments.
Details of the Investment Agreement
The recent agreement, which has the endorsement of Beyond Oil's independent board of directors, entails Clal investing CAD $10,494,000 million at a favorable issue price of CAD $3.498 per unit. This transaction marks a 10% premium compared to the prior closing price, demonstrating strong confidence from Clal in Beyond Oil's market potential.
Components of the Investment
The investment comprises 3,000,000 units, each consisting of one common share and warrants that enable Clal to procure additional shares at predetermined prices within specified time frames. Should Clal decide to exercise these warrants, Beyond Oil could receive a total of approximately CAD $21 million in additional funding.
Usage of Funds
Net proceeds from this investment will significantly contribute to expanding Beyond Oil's product distribution and enhancing their innovative solutions in the industry. This financial backing is crucial for propelling the company's growth and expanding its market reach, especially as it aims to uplift its listing to a senior exchange.
Partnership with Clal Financial Management
Jonathan Or, CEO of Beyond Oil, expressed enthusiasm regarding Clal's entry as a strategic investor. He emphasized that this partnership marks a pivotal point for the company, indicating institutional interest and support for its growth trajectory. Clal's extensive due diligence further underscores their belief in Beyond Oil's business model and technology.
About Beyond Oil's Innovative Solutions
Dedicated for over 15 years to advancing food safety, Beyond Oil has developed patented technologies that minimize health risks associated with reused cooking oil. Their innovations not only help in reducing operational costs for food service establishments but also promote sustainability and better food quality. This commitment to health and environmental impact positions Beyond Oil as a vital player in a critical industry.
Insights into the Problem of Oil Reuse
The widespread practice of reusing frying oil in restaurants and food services raises serious health concerns, including links to chronic diseases. Beyond Oil's solutions address these issues effectively, providing a sustainable alternative that promises safer cooking practices.
Future Perspectives
As Beyond Oil looks to the future, the company is focusing on establishing its presence on senior exchanges, which is expected to unlock further investment opportunities and enhance shareholder value. This strategic direction reflects its ambition to lead the food-tech innovation space and create a healthier culinary landscape.
About Clal Financial Management
Clal Financial Management is a significant player in Israel's financial ecosystem, managing vast assets in various sectors including insurance and investments. Their expertise and stability make them an ideal partner for Beyond Oil at this growth stage.
Frequently Asked Questions
What is the purpose of the investment from Clal Insurance?
The investment aims to expand Beyond Oil’s market presence and support new product distribution initiatives.
How much is Clal investing?
Clal is investing CAD $10,494,000 million, acquiring 3,000,000 units of Beyond Oil.
What does the agreement entail?
Each unit consists of one common share and half of two types of warrants, allowing Clal to purchase additional shares at defined prices.
What is Beyond Oil's mission?
Beyond Oil strives to enhance health and sustainability in the food service industry through innovative technology that reduces risks associated with reused frying oil.
What are the future plans for Beyond Oil?
The company plans to pursue an uplisting to a senior exchange, enhancing visibility and attracting further investment.
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