Beyond Oil's Shareholder Meeting Yields Positive Results
Positive Outcomes at Beyond Oil's Annual Shareholder Meeting
Beyond Oil Ltd. (CSE: BOIL) is a forward-thinking food-tech company that recently held its annual and special shareholder meeting, where significant decisions were made to pave the way for future growth. The meeting attracted participation from 35.07% of the Company’s outstanding shares, showcasing strong shareholder engagement.
Key Voting Results and Decisions
During the meeting, shareholders voted decisively on various key proposals presented, each achieving overwhelming support. The key outcomes included:
Board of Directors Restructuring
The Company set the number of directors at six, ensuring a robust governance structure. The management nominees elected as directors were Dani Itzhaki, Jonathan Or, Pinhas Or, Robert Kiesman, Erez Winner, and Yaffa Brizinov. Each nominee brings valuable expertise that will guide Beyond Oil in achieving its strategic objectives.
Appointment of Auditors
Furthermore, shareholders supported the appointment of BDO Ziv Haft as the Company’s auditor for the upcoming year. This decision is crucial for ensuring transparency and trust in Beyond Oil's financial reporting.
Equity Incentive Plan Resolution
Another significant resolution approved by shareholders was the ordinary resolution to endorse a revised omnibus equity incentive plan, contingent on Beyond Oil’s potential listing on the Toronto Stock Exchange. This plan aims to enhance employee engagement and attract top talent as the company continues to scale.
Welcoming New Expertise
Dan Itzhaki, the Chairman of Beyond Oil, expressed enthusiasm about the recent board addition of Yaffa Brizinov, emphasizing her extensive background in enterprise IT initiatives and digital transformation. This expertise is expected to play a pivotal role as Beyond Oil focuses on operational excellence and rapid scaling.
Future Aspirations: Uplisting to the Toronto Stock Exchange
Beyond Oil is simultaneously pursuing an uplisting of its shares on the Toronto Stock Exchange, a move aimed at increasing its visibility and access to capital. The company is committed to keeping the market updated on the status of this application.
About Beyond Oil Ltd.
Beyond Oil is dedicated to revolutionizing the food service industry by minimizing health risks associated with frying oil while simultaneously lowering operational costs and enhancing sustainability. The Company’s patented technology addresses critical health concerns by significantly reducing harmful compounds in cooking oil. With regulatory approvals from both the FDA and Health Canada, Beyond Oil’s solutions are backed by substantial research highlighting their effectiveness in mitigating health risks.
Reusing frying oil is a common practice in various food service settings, such as restaurants, hotels, and schools. However, Beyond Oil's innovations target the detrimental health effects associated with this practice, including links to serious diseases like cancer and cardiovascular conditions. By promoting healthier frying methods, Beyond Oil not only improves food quality but also contributes to significant operational cost savings and a reduced environmental footprint.
Contact Information
For more insights about Beyond Oil and its ongoing initiatives, please reach out to:
Beyond Oil Ltd.
Robert Kiesman
Vice President & Director
Phone: 778-840-5553
Email: robert@beyondoil.co
ICR, LLC.
Reed Anderson
Keil Decker
Phone: 646-277-1260
Email: BeyondOil@icrinc.com
Frequently Asked Questions
What was the main focus of Beyond Oil's recent meeting?
The meeting primarily focused on governance decisions, including electing new directors and appointing auditors, as well as discussing future strategic growth plans.
Who were elected to serve on the board of directors?
The newly elected directors include Dani Itzhaki, Jonathan Or, Pinhas Or, Robert Kiesman, Erez Winner, and Yaffa Brizinov.
What is the significance of their potential uplisting to the TSX?
Uplisting to the Toronto Stock Exchange could enhance Beyond Oil's visibility and broaden its access to capital, propelling future growth.
How does Beyond Oil's technology benefit the food industry?
The technology substantially reduces harmful compounds in frying oil, helping to mitigate health risks while improving food quality and lowering operational costs.
What makes Beyond Oil's innovations unique?
Beyond Oil's patented solutions are backed by extensive research, addressing critical health concerns linked to reused frying oil, particularly in high-use environments.
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