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Beyond Oil Ltd
Symbol BOIL
Shares Issued 61,724,978
Close 2025-01-22 C$ 2.10
Market Cap C$ 129,622,454
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Beyond Oil signs distribution deal with Australian co.

2025-01-22 18:28 ET - News Release

Mr. Jonathan Or reports

BEYOND OIL EXPANDS TO AUSTRALIA WITH 5 YEAR T&J OIL DISTRIBUTION AGREEMENT VALUED AT APPROXIMATELY US$4.9 MILLION*

Beyond Oil Ltd. has signed a distribution agreement with T&J Oil Pty. Ltd., based in Perth, Australia. The agreement has a term of five years and marks Beyond Oil's entry into the Australian market and includes the granting to T&J Oil of exclusivity, subject to T&J Oil, fulfilling its annual minimum quantity purchase commitments, for specific restaurant sectors in Australia.

Under the terms of the agreement, which became effective on Jan. 22, 2025, T&J Oil will serve as the distributor of Beyond Oil's proprietary oil treatment products for non-chain restaurants and local chains that do not utilize filter machines across Australia. The partnership is expected to help restaurants extend oil life, improve food quality and reduce waste, aligning with Australia's push for more sustainable practices in the food service industry.

The agreement includes a aggregate minimum purchase commitments of $4,947,600 (U.S.) over its five-year term. For the first year of the agreement, T&J Oil has committed to purchasing a minimum of $243,600 (U.S.) worth of Beyond Oil's products, with subsequent minimum commitments for the following four years increasing substantially. On top of the minimum commitments, the agreement also includes an annual licensing fee, amounting to a total of $100,000 (Australian) per year.

Additionally, as part of the agreement, Beyond Oil will provide certified training sessions, with T&J Oil establishing a dedicated training centre to support regional clients in optimizing their use of the Beyond Oil product.

* This aggregate figure is contingent on T&J Oil fulfilling its annual minimum purchase obligations. Beyond Oil retains the right to terminate the agreement or revoke T&J Oil's exclusivity arrangement if the annual minimum commitments are not met, something which cannot be guaranteed. Additionally, 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 in the original version of this release. Readers should take note of the fact that significant differences may occurr in any future potential bottom-line figures as such.

Jonathan Or, chief executive officer of Beyond Oil, commented: "We are excited to partner with T&J Oil to introduce our innovative oil treatment technology to the Australian market. This agreement underscores our commitment to expanding globally and bringing healthier, more sustainable frying solutions to commercial kitchens worldwide. With T&J Oil's extensive distribution network and experience in the food service industry, we are confident in their ability to drive adoption and maximize the impact of our product across Australia."

Oren Haas, CEO of TJ Oil, remarked: "We are very excited to take on this new opportunity. We have been exploring and researching Beyond Oil's revolutionary product for some time now. We are confident in our ability to take on this challenge and help change the oil market. Beyond Oil is at a turning point, with its product being recognized in more and more global markets, and we are very happy to be the chosen team to lead its penetration in Australia. We aim to take on large market share and pursue the rare opportunity to bring change and value to our customers."

About Beyond Oil Ltd.

Beyond Oil is a food tech company in the health sector, with over 15 years dedicated to innovative solutions and registered patents in Israel, the United States and Europe, as well as clearance from the FDA (Food and Drug Administration), 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 the company's day-to-day lives. Beyond Oil provides a unique solution for food-processing and food-service companies striving to produce and serve healthier food, increase sustainability, while improving food quality and saving their costs.

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