Pontus Protein Ltd. announced a non-brokered private placement for up to 16,666,667 units at a price of CAD 0.03 per unit for gross proceeds of CAD 500,000.01 on July 20, 2022. Each unit consists of one common share and one share purchase warrant, each entitling the holder to acquire an additional share at a price of CAD 0.05 per share for a period of 12 months following the date of issue. All securities issued will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities law.

The company may pay fees to certain finders in connection with the transaction. The transaction is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.