Beyond Oil Ltd. Announces Upcoming Shareholder Meeting and Provides Supplemental Information

Beyond Oil Ltd., a company that focuses on food-tech innovation by extending the life of frying oil, announced it will host its annual general and special meeting on April 25, 2024, at the Endeavor Trust Corporation in Vancouver, BC. This meeting aims to discuss key resolutions including amendments to the Company's equity incentive plan and the deferred purchase price agreement.

The Company released additional information regarding the Deferred Purchase Price Agreement and the extension of expiry dates for 2,683,333 subsidiary warrants (SubcoWarrants) and 2,241,324 ordinary warrants. These actions are in compliance with MI 61-101, which ensures protection for minority shareholders in special transactions, requiring disinterested shareholder approval without the need for formal valuation.

Beyond Oil also provided a clarification stating the necessity for minority shareholder approval under Canadian regulations, despite certain exemptions that exist. The related party transactions highlighted several key shareholders who would not be entitled to vote on specific resolutions, detailing their shareholdings and entitlements upon the fulfillment of certain conditions laid out by the company.