Beyond Oil Closes $2.5 Million Private Placement with Lead Order from Fandango

Beyond Oil Ltd. (CSE:BOIL), a food-tech company focused on reducing health risks associated with fried food, has closed a non-brokered private placement, raising C$2.5 million. The placement came at a price of C$1.05 per unit, comprising one common share and half of a share purchase warrant. Each warrant allows the purchase of a share at C$1.75 within one year.

Fandango Collection & Recycling Ltd., Beyond Oil's distributor in Israel, led the investment. Beyond Oil also reported that some of Fandango's senior management and shareholders participated.

The proceeds will support Beyond Oil's corporate purposes, furthering its innovation and growth in the food-tech industry. Insiders, including President Pinhas Or, invested over C$240,000.