Pontus Selects General Contractor and Owners' Representative to Complete Development at its Surrey Farm Facility

VANCOUVER, BC, June 17, 2021 /CNW/ - Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) ("Pontus" or the "Company") is pleased to announce that it has selected ICE Constructors Ltd. ("ICE Constructors") as the General Contractor and EllisDon Construction Svc. Inc. ("EllisDon") as the Owners Representative to complete Pontus' Surrey, British Columbia farm facility (the "Facility"). Both collaborative parties have already initiated work on the construction of the Facility.

Pontus has divided the development of the Facility into Three Phases. Phase One was the lab build, which is now complete, and production is set to start in approximately a week with the arrival of Pontus' water lentils. Phase Two includes the full production capability, and has been initiated by EllisDon and ICE Constructors. The final phase, Phase Three, is the added value phase, and includes the installation of the Facility's production kitchens.

About ICE Constructors

ICE Construction, part of the ICE Group of Companies, founded in 2004, has been executing the base build, design-build and tenant improvements of various British Columbia business, including the BC Liquor Branch Head office in Burnaby. ICE Construction also has experience in vertical farming as well as agritech, working with various cannabis producers helping design their manufacturing facilities.

ICE was selected for its experience in other local facility builds in the region and support/recommendations the Company received from the skilled trades keen to work on this project.

Sonny Sangha, President of ICE Group of Companies, stated, "We are excited to work on this project. Projects like this do not come along every day, and I believe we can both learn from each other. The Pontus team is motivated to get this project complete."

About EllisDon

EllisDon is a global project management and construction services company founded in 1951, which will act on behalf of Pontus to oversee the construction and ensure the build meets the design and standards set out by Pontus. EllisDon brings similar experience to the construction of Pontus' Facility, and has experience in Agri manufacturing facilities including Cavendish Farms.

EllisDon was selected to represent Pontus and ensure the build meets the original design and high standards set out by Pontus. EllisDon's experience working in sensitive environments, such as clean hospital environments, lends its highest standards as the Facility is a food facility and must practice the highest biosecure standards. Also, EllisDon's commitment to sustainability is aligned with Pontus' core values.

Jonathan Motyka, Senior Project Manager from EllisDon, added, "Yes, we're excited too, to be able to work with an up-and-coming company to deliver a unique and, dare I say it, cool facility."

About Pontus Protein Ltd.

Pontus Protein Ltd. is a Vancouver, B.C. based technology 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 nutrition rich plant based food products, functional foods and nutraceuticals to support 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 Pontus' ability to revolutionize the plant based sector as well as the anticipated delivery of Pontus' water lentils and production start date. 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 the construction of the Facility or specific phase thereof, 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.

Contact Information: please contact: Connor Yuen, Chief Executive Officer, Investor Relations or Media enquiries: [email protected], [phone]