- Beyond Oil (BOIL) has completed a non-brokered private placement for total gross proceeds of $1,184,132.25
- The company issued 1,578,843 units at $0.75 per unit
- Beyond Oil is a food tech company that provides a solution to the global vegetable oil industry
- Beyond Oil Ltd. (BOIL) is up 3 per cent, trading at C$0.69 per share at 10 am ET
Beyond Oil (BOIL) has completed a non-brokered private placement for total gross proceeds of $1,184,132.25.
The company issued 1,578,843 units at $0.75 per unit. Each unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share for a period of 12 months from the date of closing.
The net proceeds will be used for general corporate purposes and working capital.
“We are starting the year in a strong position, thanks to our shareholders for their ongoing support as we continue to execute our mission to provide a disruptive solution to the food-service industry,” said Dr. Tamir Gedo, CEO of Beyond Oil.
“With a stronger balance sheet, we are well-positioned to accelerate our growth plans in North America.”
The company paid a cash commission totalling $71,047.94 to eligible finders.
All securities issued are subject to a statutory four-month hold period.
The offering is subject to the receipt of all necessary approvals, including the acceptance of the CSE.
Beyond Oil is a developer and manufacturer of an innovative proprietary and patented formulation which reduces the free fatty acids from cooking oil while preserving the oil’s quality and nutritional value.
Beyond Oil Ltd. (BOIL) is up 3 per cent, trading at C$0.69 per share at 10 am ET.