PONTUS PROTEIN PROVIDES AN UPDATE ON THE SALE OF ITS AQUAPONICS BUSINESS SEGMENT

VANCOUVER, BC, Dec. 2, 2022 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the "Company") is pleased to provide a further update to the Company's news release of November 3, 2022, announcing the asset purchase agreement dated November 3, 2022 with CEVAS Technology Inc. pursuant to which the Company will sell substantially all of the Company's assets (the "Transaction"), more particularly all of those assets used in its aquaponics farming business (the "Aquaponics Segment").

The Company is pleased to announce that it has called a special and annual meeting of its shareholders to be held on December 23, 2022. At the meeting, in addition to the general business which is conducted at annual meetings, shareholders will be asked to consider and if appropriate, to approve the Transaction in accordance with the TSX Venture Exchange policies.

The Company has also provided its information circular to shareholders, which details the terms of the Transaction and was delivered on December 1, 2022.

The board of directors of the Company has unanimously determined that the Transaction is in the best interests of the Corporation and is fair to the Shareholders and is unanimously recommending that the shareholders vote in favour of the Transaction. 

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 

This news release and other publicly available documents, including the documents incorporated herein and therein by reference, contain "forward-looking statements". Forward-looking statements can be identified by words such as: "anticipate", "intend", "plan", "goal", "seek", "believe", "project", "estimate", "expect", "strategy", "future", "likely", "may", "should", "will", and the negative of these terms, and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the amount of funds available to Pontus on the completion of the Transaction, the expected or intended use of any such funds and the future growth of the Aquaponics Segment, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company.

Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

Any forward-looking statement made by us in this news release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise

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

SOURCE Pontus Protein Ltd.