PONTUS PROTEIN LTD. RESPONDS TO OTC MARKETS REQUEST ON RECENT PROMOTIONAL ACTIVITY
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.
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.
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.
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