Pontus Protein Provides Update on Surrey Facility Development

VANCOUVER, BCSept. 9, 2021  /CNW/ – Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) (“Pontus” or the “Company“) is pleased with the progress on the development of its first commercial production facility. The 20,570 sq. ft. production facility is located in Surrey, British Columbia (the “Surrey Facility“).

After years of planning and testing in our Victoria, B.C., test facility, I am very pleased to see the progress with the tenant improvements for the facility construction. I can see the floor plan coming to life,” said Steve McArthur, Chief Technology Officer of Pontus, who has also provided a video of the progress here.

Our entire team, from EllisDon, ICE Construction and all their subtrades, engineering and architectural consultants have been a pleasure to work with. We’ve been moving as quickly and efficiently as possible, while staying on budget, and having fun while we do it.”

Pontus received their work permit to begin tenant improvements from the City of Surrey in May 2021. Since then, the Company has secured EllisDon as its owner’s representative, and ICE Construction as the general contractor. The Company has seen rapid progress in developing the shell of the building into a biosecure facility using novel technology to sustainably grow the rapidly growing and highly nutritious water lentil species.

The internal walls and flooring are 95% complete. These are targeted to be complete by the end of next week. At that time, installation of the fish farm and shelving will begin.

The laboratory was completed mid-summer, as projected, and is currently awaiting electricity to be installed which is planned within the next two weeks. At that point, Pontus can start its initial production phase that will enable consumer acceptance testing to be completed, to finalize packaging development, and begin initial product sales.

Equipment for the facility has arrived and is in storage, including the custom-designed LED lights, shelving, drum filter and UV filter for the fish farm. Due to COVID, some items were predicted to take a longer lead time. For example, the air handling units in the HVAC moved to 30 weeks. The team has worked collaboratively to source new units that can be delivered in 10 weeks and re-engineered the design for these specific units.

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 pontuswaterlentils.com.

*https://www.infood.net/visitor/collection/75?portion_size=100

On behalf of the Board of Directors

“Connor Yuen”

Connor Yuen, CEO
Pontus Protein Ltd.

Contact Information

For more information, please contact:

Connor Yuen Chief
Executive Officer

Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management 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 timelines for the completion of the Surrey Facility’s various leasehold improvements 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 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE Pontus Protein Ltd.

For further information: Investor Relations or Media enquiries: [email protected], (403) 589-7992