The Agreement, Which Includes Minimum Purchase Commitments Totalling US$8.3M in 2025, Positions Beyond Oil for Significant U.S. Market Expansion
NEW YORK, New York, KIBBUTZ YIFAT, Israel and VANCOUVER, BC, Jan. 24, 2025 (GLOBE NEWSWIRE) — Beyond Oil Ltd. (CSE: BOIL) (OTCQB: BEOLF) (Frankfurt: UH9) (“Beyond Oil” or the “Company”), a food-tech innovation company dedicated to reducing health risks associated with fried food while lowering operational costs, minimizing waste and enhancing sustainability, today announced a transformative Master Distribution Agreement (the “US Master Distribution Agreement”) with Latitude Ltd. (“Latitude”), a New York-based importation, distribution, and logistics company. The US Master Distribution Agreement includes minimum monthly commitments totaling US$8.3 million during the fiscal year 2025.*
Approved on January 23, 2025, the US Master Distribution Agreement grants Latitude the right and license to market and sell the Beyond Oil product across the United States (the “Territory”). The term of the US Master Distribution Agreement is for five (5) years, which may be renewed for additional five (5) year terms, provided that the Master US Distribution Agreement has not been terminated by either party and that the parties have reached agreements on product pricing and minimum purchase requirements for years two through five.
Latitude will focus on selling to small and medium-sized food service customers while leveraging its sub-distributor network to achieve broad market penetration, allowing Beyond Oil to concentrate on securing strategic deals with larger, multinational customers, while Latitude drives growth and revenue in other market segments. The companies will work closely to ensure synchronized efforts, participating jointly in trade shows, coordinating market strategies, and aligning operations to maximize efficiency and impact. This collaboration will enable Beyond Oil to establish a steady cash flow from Latitude’s sales while expanding its reach to all customer levels in the United States with minimal overhead costs. Additionally, Beyond Oil will leverage Latitude’s logistics and supply chain expertise as a U.S.-based logistic partner, ensuring seamless distribution and efficient market penetration.
Strategic Benefits
- Revenue Growth and Market Reach: Latitude’s 2025 purchase commitment, which will be purchased throughout the year on a monthly basis, provides Beyond Oil with a revenue stream in 2025, while its sub-distributor network ensures the product reaches all customer tiers across the United States.
- Focus on Strategic Deals: By outsourcing sales to small and medium-sized customers, Beyond Oil can dedicate resources to securing larger, multinational accounts and advancing its long-term strategy.
- Cost-Efficient Expansion: This agreement enables Beyond Oil to expand its footprint without high overhead costs, generating cash flow while building a brand presence across the US market.
Laurel Eastman, President of Latitude commented: “I am committed to using every tool available to establish Beyond Oil as a mandatory product in U.S. restaurants, schools, military facilities, catering services, and related industries. Beyond Oil’s product significantly reduces the production of carcinogens caused by the degradation of frying oils and thus has important implications on healthcare savings.” Ms. Eastman holds degrees in both inorganic chemistry and mathematics and studied at both MIT and Tufts University. A former senior advisor to President Trump, Ms. Eastman has a diverse background in both business and science. Eastman previously worked closely with Secretary Perry at the Department of Energy for two years.
Jonathan Or, CEO of Beyond Oil, commented: “Partnering with Latitude Ltd. as our Master Distributor in the United States is a strategic move that allows us to achieve multiple objectives simultaneously. Latitude’s expertise and established network in the US food service industry will enable us to expand rapidly into new markets, creating significant revenue streams while allowing our team to focus on long-term strategic opportunities with larger customers. Through this partnership, we will effectively reach all levels of customers, from small and medium-sized businesses to high-profile restaurant groups, without the burden of heavy operational expenses. Together, we are paving the way for healthier, sustainable frying practices across the United States. Notably, the minimum purchase commitments in this agreement provide us with a solid start to 2025.”
Dedi Avner, CEO of Latitude, remarked: “We are thrilled to partner with Beyond Oil in the US. After extensive testing, we have seen firsthand the transformative impact of their product on health, sustainability, and operational efficiency. Our network of sub-distributors and direct sales team is ready to bring this solution to customers nationwide. With the support of Beyond Oil, we are committed to an aggressive penetration strategy and are excited about the significant potential of this partnership. Together, we are redefining the American food service market and setting a new standard for healthier and more sustainable frying operations.”
*Projected revenues do not reflect profits, as they are subject to variable factors, including operational costs, licensing fees, market conditions, and other factors in the Forward-Looking Statement below. Readers should take note of the fact that significant differences may occur in any future potential bottom-line figures as such.
About Latitude Ltd.
Latitude Ltd. is an international importer of specialty raw materials, a master distributor and logistics company based in New York. Further Latitude services its customers nationally with specialty water treatment products, technical support and logistics services with over thirty years’ experience in international trade. Latitude maintains a strategic network of warehouses and freight services across the United States to accommodate its customers. For more information, visit their website at: https://latitudeltdusa.com/about.html.
About Beyond Oil Ltd.
Beyond Oil Ltd. is an innovative food-tech company focused on the global frying industry with patented solutions that enable healthier frying practices for people and the planet. Guided by its vision to become a global standard in frying operations for the food service and food manufacturing industries, and with regulatory clearance from the FDA and Health Canada, Beyond Oil’s product significantly reduces harmful compounds in frying oil, addressing cancer and cardiovascular risks associated with fried foods. The Company’s proprietary technology provides food service operators with a cost-effective solution to deliver healthier, higher-quality fried and processed foods while extending oil life and minimizing waste. For more information, visit: www.beyondoil.co.
Contacts
Jonathan Or
Beyond Oil CEO and Co-founder
Phone: +972 52-601-0680
info@beyondoil.co
Sky Mandel
Latitude’s VP Sales & Business Development
Phone: 516-381-9696
Sky@latitudeltdusa.com
ARX | Capital Markets Advisors
North American Equities Desk
beyondoil@arxadvisory.com
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 be issued as a result of a pending patent application or, if issued, whether it will be issued 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 sedarplus.ca. 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.
- Willis Lease Finance Corporation Completes Sale of Consultancy and Advisory Arm to Joint Venture with Mitsui & Co. - June 30, 2025
- Western Forest Products Inc. Announces Fire Damages Columbia Vista Division Sawmill - June 30, 2025
- East West Kung Fu Studios Honors the Life and Legacy of Senior Grandmaster Richard Lee (1942–2025) - June 30, 2025
