Beyond Oil Receives Halal Certification and Provides Update from Israel Ministry of Health

VANCOUVER, BC and KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / May 12, 2023 / Beyond Oil Ltd. (CSE:BOIL) ("Beyond Oil" or the "Company"), a food-tech innovation company extending the life of frying oil, reducing costs and waste, is pleased to announce that Halal Quality Control, a globally recognized and accredited Halal certification body, has awarded Beyond Oil's frying oil filter powder with a Halal Certificate (the "Certificate"), acknowledging that Beyond Oil has followed all necessary guidelines and preparations to ensure that its product is lawful and permitted under Islamic law.

"Halal certifications are necessary to export food and other products to Islamic countries," said Jonathan Or, CEO of Beyond Oil. "This certification allows us to serve a broader base of customers in those countries where individuals will only purchase foods and items that are guaranteed to be Halal. This is another step towards rapidly expanding our customer base and reaching scale."

Israel Ministry of Health Update

In its news release dated September 23, 2022, the Company inadvertently advised that it had received a non-objection letter from the Israel Ministry of Health in respect of the use of Beyond Oil's product as a filter aid for the filtration of frying oils in the Israeli market. In fact, a specific non-objection letter was not issued to the Company.

The Company wishes to clarify that the Ministry of Health in Israel does not grant non-objection letters and certificates for products included under the category of "Filtering & Processing Aids" in Israel. Unlike Health Canada and the US Food & Drug Administration ("FDA"), in Israel, the use of processing aids does not require pre-marketing approval or registration from any regulatory body.

However, the Israel Ministry of Health gave the required regulatory information and instructions about the use of "Filtering Aid".

Beyond Oil wishes to confirm that the Beyond Oil product does not require any preliminary or current or future approval from any government entity, including the Israel Ministry of Health, for marketing, distributing or selling its product in Israel.

Dr. Sigalit Ariely-Portnoy, the CEO of GSAP, an international service firm specializing in food tech regulations and a regulatory Consultant to Beyond Oil said, "Based on the regulations in Israel, Beyond Oil's product is considered to be a food processing aid material and does not require any preliminary or ongoing approval for marketing in Israel as long as it continues to comply with the US Food & Drug Administration and the Food Chemical Codex specifications."

The Company received a non-objection letter from the FDA in March 2022, on the basis that all the Beyond Oil product ingredients meet food-grade specifications of the FDA. In May 2022, Beyond Oil received a non-objection letter from Health Canada and a National Sanitation Foundation certification.

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About Beyond Oil Ltd.
Beyond Oil develops and manufactures an innovative, proprietary, and patented product designed to extend the life of frying oil while preserving the oil's quality and nutritional value. The unique product integrates into the existing filtration systems of both commercial and industrial fryers, reducing oil costs, helping create healthier food, decreasing waste, and increasing sustainability. For more information visit: www.beyondoil.co.

Contacts
Jonathan Or
CEO
1-647-691-9801
info@beyondoil.co

Caroline Sawamoto
Investor Relations
1-647-691-9801
ir@beyondoil.co

Forward Looking Statement and Information
The Canadian Securities Exchange has in no way passed upon the merits of the Company and has neither approved nor disapproved the contents of this press release. Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains "forward-looking statements" within the meaning of the securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. In addition, we cannot assure that any patent will issued as a result of a pending patent application or, if issued, whether it will issue in a form that will be advantageous to us. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time at www.sedar.com. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. The Company is not responsible for the contents of third-party websites.

SOURCE: Beyond Oil Ltd