Pontus Protein Appoints Head of Product Development and Signs a Copacking and Distribution Agreement
Posted on December 9, 2021
VANCOUVER, B.C., December 9th, 2021. Pontus Protein Ltd. (TSXV: HULK, OTCQB: HLKKF, FSE: 8YC) (“Pontus” or the “Company”) is pleased to announce Mark Arathoon as Head of Product Development. In addition, the Company has secured Blue Ocean Tea Company (“Blue Ocean”), to advise on contract packing, production distribution and certifications.
Pontus is pleased to announce it has agreed to terms with Mark Arathoon, to become Head of Product Development. Arathoon is a fourth-generation tea expert who has built relationships with global suppliers and has developed ready to drink products for Numi Organic Tea, Starbucks, Revolution Tea, Justea Beverages, Wize and several other North American and International brands. He will support not only product development but also business development. Pontus entered into an LOI with Arathoon’s company Blue Ocean, in March 2021, and both companies have continued fruitful negotiations in good faith.
Concurrent with Arathoon’s appointment, Pontus has entered into a definitive agreement with Blue Ocean to advise on contract packing and production. Blue Ocean holds strategic food certifications, is Rainforest Alliance certified, and a Global Food Safety Initiative member. Blue Ocean will package sachets of Pontus Powder and produce added-value products to enable early access of Pontus into the market. The team will also support Pontus as it seeks to secure the highest global product standards, which will, in turn, support a premium price for the products and a broad distribution network.
Pontus will enter into a contract manufacturing agreement once production starts.
Mark Arathoon commented, “I reached out to Pontus when I saw what a novel technology they had developed. When I tasted the product and saw the nutritional profile, I knew this was something I wanted to be part of. I am very pleased to be heading up Product Development and using my experience and networks to get the widest distribution for the product.”
Connor Yuen, Pontus’ CEO, added, “I am so pleased that Mark has joined us as Head of Product Development. Our work together since the LOI has been very productive. His experience in global product development and distribution and his excitement around Pontus makes Mark and Blue Ocean the best partners as we launch our first products.”
About Pontus Protein Ltd.
Pontus Protein Ltd. is a Vancouver, B.C. based agricultural technology company that will enable millions to rethink their food choices while helping people do the world a world of good. By offering sustainably grown plant based food options that are nutritious and delicious, we’re helping this kind of diet become the norm.
Pontus is reinventing agriculture with their proprietary Closed Environment Vertical Aquaponic System (CEVAS) – the farming of the future. Pontus specializes in the indoor vertical farming of water lentils that use 95% less water than traditional agriculture and no pesticides or chemicals. Pontus is committed to solving the global food crisis by providing access to sustainable indoor biosecure pure plant based proteins. Pontus’ water lentils can be harvested every 24 hours, exceed organic certification, and can be grown in any climate in a relatively small area. Our water lentil protein is filled with antioxidants, minerals, vitamins and all the amino acids, making a complete protein food source. Pontus aims to revolutionize the plant based sector as the entire sector is currently based on two main protein sources: soy and pea. Water lentil protein is far superior to pea and soy protein. It contains over 40% protein vs. 5-36% protein*, and Pontus aims to be the base protein for plant based food products, leading to the movement transitioning the world from meat based to plant based proteins.
To learn more, please visit www.pontuswaterlentils.com.
On behalf of the Board of Directors
Connor Yuen, CEO
Pontus Protein Ltd.
For more information, please contact:
Connor Yuen Chief
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Certain statements in this release are forward-looking statements, which reflect management’s expectations regarding the Company. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the anticipated use of proceeds of the Offering, Including those from the Second Tranche, by the Company and Pontus’ ability to revolutionize the plant based sector and enable millions to rethink their food choices. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. These risks include, but are not limited to, the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic, the failure of Pontus to receive TSX Venture Exchange approval for the closing of the remainder of the Offering, Pontus’ inability to close further tranches of the Offering, the failure of Pontus to receive the necessary approvals from the Canadian Food Inspection Agency for its products and facilities, the inability to complete Pontus’ Surrey Facility, as well as other general business, economic, or market related risks beyond the director control of the Company and which may affect the Company’s business, operations, or products. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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