Pontus Receives Building Permit for Surrey Facility

VANCOUVER, BC, May 20, 2021 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (FSE: 8YC) ("Pontus" or the "Company"), is pleased to announce that, further to its prior news releases dated May 18, 2021, March 31, 2021, February 24, 2021 and February 3, 2021, the City of Surrey has awarded Pontus its building permit for the 20,570 sq ft production facility in Surrey, British Columbia (the "Surrey Facility").

Connor Yuen, Pontus' CEO stated, "This is a significant milestone for Pontus, enabling us to develop the facility using proprietary technology to produce a game changing superfood. The design and process for approvals will act as a template and model for future facilities."

The City of Surrey has awarded Pontus its building permit for the 20,570 sq ft production facility in Surrey, B.C.

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Tenant improvements will commence with phase 1, the test facility, and then continue with phase 2, the commercial outfitting. Due to the increased size of the Surrey Facility, Pontus is forecasting an annual production capacity of up to 11.0 metric tonnes, a 72% increase to its originally stated volume of 6.4 metric tonnes of annualized product.

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. 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.

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, the anticipated completion of the Surrey Facility, and any anticipated production benefits therefrom including, but not limited to, estimated production yields or outputs of Pontus' water lentils, and 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, the inability to complete the Surrey facility's leasehold improvements, 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) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Pontus Protein Ltd.

Connor Yuen, Chief Executive Officer; Investor Relations or Media enquiries: [email protected], [phone]