VANCOUVER, BC, April 11,
2023 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB:
HLKKF) (FSE: 8YC) ("Pontus" or the "Company"),
announces that it has been requested by OTC Markets Group Inc.
("OTC Markets") to issue this statement about promotional
activity concerning the Company's common stock traded on the
OTCQB marketplace.
On April 4, 2023, the OTC Markets informed the Company that
it became aware of certain promotional activities concerning the
Company and its common shares traded on the OTCQB Marketplace,
including the distribution of multiple newsletter emails and
digital marketing materials published by Awareness Consulting
Network LLC discussing the Company, its business and the
agricultural food and technology sectors generally. The newsletter
emails and the marketing materials contained information available
from publicly available online resources.
On March 22, 2023, the Company
engaged Awareness Consulting Network LLC ("Awareness
Consulting") to provide advertising and marketing services,
including project management and consulting, for an online
marketing campaign as well as the coordination of marketing
actions. The Company was therefore aware of the Awareness
Consulting activities respecting the Company since March 22, 2023. Awareness Consulting is a
third-party marketing and advertising firm. The agreement with
Awareness Consulting is valid for 4 months. The appointment of
Awareness Consulting, the nature of the relationship between the
Company and Awareness Consulting as well as the compensation to be
paid to Awareness Consulting was publicly disclosed in a news
release on March 22, 2023, which can
be found under the Company's profile on SEDAR at www.sedar.com.
Awareness Consulting utilized publicly available sources of
information for its newsletter emails and marketing materials. The
Company does not believe the statements in the marketing materials
and newsletter e–mails were materially false or misleading. For
more complete and specific information regarding the Company, its
prospects and the risks associated with those prospects, readers
should review the Company's public filings on SEDAR. The Company
encourages investors to contact their investment advisor before
making any investment.
After inquiry of management, other than as disclosed herein, the
Company confirms that its officers, directors or its controlling
shareholders (i.e., shareholders owning 10% or more of the
Company's securities) have not, directly or indirectly, authorized
or been involved in any way with the creation, distribution of
promotional materials related to the Company and its securities,
with the exception of engaging Awareness Consulting.
After inquiry, the Company understands the promotional material
to have been distributed by Awareness Consulting through its'
third-party distribution network. The Company engaged Awareness
Consulting to provide certain advertising and communication
services for the Company, including the development and
dissemination of promotional newsletters contingent on the
Company's approval of such material.
The Company understands this promotional activity coincided with
increased trading activity in the common shares beginning on
April 4th, 2023. The Company does not believe the
promotional activities were the primary factor in any increase in
trading volume in the common shares. Rather, the Company believes
the promotional materials drew attention to the Company's recent
commercial developments which have been disclosed in recent news
releases and regulatory filings, causing an increase in trading
volume.
To management's knowledge, no officers, directors, or
controlling shareholders or third-party service providers have sold
or purchased shares of common stock of the Company within the past
90 days.
On August 11, 2022 and
August 30, 2022, through the
facilities of the TSX Venture Exchange ("TSX-V"), the
Company announced it issued 16,666,667 Units at $0.03 per Unit discount to market pursuant to
private placement pricing policies of the TSX-V. Each Unit
consisted of one common share and one common share purchase
warrant. The warrant exercise prices were issued at $0.05 per warrant, in which, the minimum price
was set by pricing policies of the TSX-V at the time of grant and,
as such, were not discounted. Details regarding the issuances of
securities by the Company within the last 12 month are available on
SEDAR.
The Company is committed to compliance with the OTC Markets
Group policy on stock promotion and the OTCQB standards and
Canadian securities laws. The Company encourages those interested
in the Company to rely solely on information included in press
releases issued and distributed by the Company through approved
news wire or disclosure and news services, combined with its
filings and disclosures made with the Canadian securities
regulators, as well as information provided through the OTC
Markets, and available on SEDAR and the OTC Markets website,
respectively.
About Pontus Protein
Ltd.
This is our future – the future of farming; Pontus Protein Ltd.
is a Vancouver-based agricultural
food and technology company focused on creating and acquiring the
best technology. Highly sophisticated, AI-engineered robots,
combined with our proprietary vertical farming and a commitment to
sustainability. Our intellectual property optimizes efficiency for
a shorter growing time and high productivity. We deliver healthy,
affordable foods and nutrients into every diet in a closed,
controlled environment avoiding all pesticides and GMOs.
Pontus Protein is publicly traded in Canada (TSXV:HULK), the United States (OTCQB: HLKKF) and
Germany (FSE: 8YC) and you can
find out more on our SEDAR profile.
Learn more about Pontus: Website | Investor Page | LinkedIn |
YouTube | Twitter
On behalf of the Board of Directors
"Avtar Dhaliwal"
Avtar Dhaliwal, CEO
Pontus Protein Ltd.
Forward-Looking
Information
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, statements relating to 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 direct 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.