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VANCOUVER, BC, Jan. 29, 2021 /CNW/ - Pontus Protein Ltd ("Pontus" or the "Company") (TSXV: HULK) is pleased to announce the highly successful completion of its first day trading as a public company. Over 1.4 million shares were traded on the initial debut, with a resulting closing price of 0.75 per share.
Message from the CEO
CEO Connor Yuen stated: "We are extremely pleased with the interest and enthusiasm investors had in welcoming our company to the public markets. After an extensive period preparing to be publicly traded, our first day exceeded our expectations. Our work is far from over, and this is just the beginning, as we look forward to being able to execute on the vision of the company and become a leader in plant-based protein. There is a tailwind in this sector which our shareholders recognize as consumers look towards sustainable plant-based products."
Plant-based Protein Powder Market
The plant-based protein powder developed by the Company is a premium entry into the global protein supplements market. This market is currently valued at USD $15 Billion and will grow to USD $20 Billion by 2025 (source: Grand View Research 2018). The growth is fuelled by more North Americans reducing or eliminating animal products. The North American Plant-based Protein Market is anticipated to grow at a CAGR of 14% from 2019 through 2025.
Investor Relations Update
The Company is pleased to announce that it has retained Edge Growth Holdings Corporation ("Edge Communications Group" or "Edge") for strategic investor relations and capital markets communications services. Under the terms of the three-month agreement, the Company will pay Edge a monthly fee of $10,000 and grant to Kevan Matheson, the principal of Edge, 50,000 incentive stock options. Other than the options to be granted and 100,000 shares, neither Edge, Kevan Matheson, nor any employees of Edge have any direct or indirect interest in Pontus or its securities.
About Pontus Protein Ltd
Pontus Protein Ltd makes pure plant-based protein powder sourced from nutritious water lentils, farm-grown in Vancouver, BC. Not only does Pontus Protein Powder exceed certified organic standards, but it's also gluten-free, pure and allergen safe. It's jam-packed full of antioxidants, minerals, vitamins and ALL the essential amino acids. This is not your average lentil, these are water lentils, a crop that can be harvested every 24 hours, in an indoor aquaponic farm that uses 95% less water than traditional agriculture, using the leading proprietary CEVAS™ aquaponic agritech technology. This is wonderful news for a planet populated with us hungry and health-conscious humans.
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 trading of the common shares on the TSXV and any additional benefits the listing may have on awareness Pontus, its Pontus Protein Power or ability to meet the market demands of the plant based and alternative protein market. 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. The risks include, but are not limited to, the following: the unknown magnitude and duration of the effects of the COVID-19 pandemic, the unknown business effects of the listing of Pontus' common shares on the facilities of the TSXV, and other general business, economic, or market related risks. 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.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Pontus Protein Ltd.
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