Pontus Protein Announces DTC Eligibility and Results of Annual General Meeting

VANCOUVER, BC, July 6, 2021 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the "Company"), is pleased to announce that its US-based OTC Markets listing under the ticker symbol "HLKKF" has received approval from the Depository Trust Company ("DTC").

"We are very excited to receive DTC eligibility, granting us the ability to significantly reduce costs in trading shares, which in turn opens up the US market to all retail investors, who follow our vision for sustainability and reinventing agriculture," said Connor Yuen, CEO of Pontus. "We believe this move will lead to greater liquidity, providing current and prospective US investors further opportunities to participate in Pontus' growth. This is a timely development, as Pontus looks to complete its facility and begin production."

DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly-traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be DTC eligible. DTC eligibility is required to create a seamless electronic trading process and thereby enhance the liquidity of the Company's shares.

Results of Annual General Meeting

Pontus is pleased to report the results of its Annual General Meeting, held on June 30, 2021, in Vancouver, B.C. A total of 16,650,484 common shares were voted at the meeting representing 25.031% of the votes attached to all outstanding shares. All resolutions were passed by shareholders.

Shareholders voted in favour to set the number of directors at five and for the election of all director nominees for the ensuing year.

Nominee	Votes for	% for	Votes Withheld
Connor Yuen	1,954,310	99.711	5,674
Steve McArthur	1,954,317	99.711	5,667
Jeremy Wright	1,855,984	94.694	104,000
Sean Kingsley	1,854,984	94.643	105,000
Spencer Smyl	1,855,984	94.694	104,000

Complete voting results are available on SEDAR at www.sedar.com.

Shareholders also voted in favour of (i) appointing Dale Matheson Carr-Hilton Labonte LLP as the auditors of the Company for the ensuing year and (ii) ratifying and confirming the Company's Stock Option Plan.

About Pontus Protein Ltd.

Pontus Protein Ltd. is a Vancouver, B.C. based company that grows water lentil protein for commercial use. Pontus is reinventing agriculture with their proprietary Closed Environment Vertical Aquaponic System (CEVAS) – the farming of the future. Pontus specializes in the indoor vertical farming of water lentils that use 95% less water than traditional agriculture and no pesticides or chemicals. Pontus is committed to solving the global food crisis by providing access to sustainable indoor biosecure pure plant based proteins. Pontus' water lentils can be harvested every 24 hours, exceed organic certification, and can be grown in any climate in a relatively small area. Our water lentil protein is filled with antioxidants, minerals, vitamins and all the amino acids, making a complete protein food source. Pontus aims to revolutionize the plant based sector as the entire sector is currently based on two main protein sources: soy and pea. Water lentil protein is far superior to pea and soy protein. It contains over 40% protein vs. 5-36% protein*, and Pontus aims to be the base protein for plant based food products, leading to the movement transitioning the world from meat based to plant based proteins.

To learn more, please visit pontuswaterlentils.com.

*https://www.infood.net/visitor/collection/75?portion_size=100

On behalf of the Board of Directors

"Connor Yuen"

Connor Yuen, CEO
Pontus Protein Ltd.

Contact Information

For more information, please contact:

Connor Yuen Chief
Executive Officer

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, Pontus' ability to revolutionize the plant based sector. 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-based production facility, as well as other general business, economic, or market related risks beyond the director 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.

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