Pontus Protein Announces Avtar Dhaliwal as Interim CEO and Mohsen Rahimi Joining the Board

Dhaliwal brings his leadership in farming, regulatory and distribution experience with Overwaitea, Safeway and Costco to Pontus. Rahimi is an experienced public company board member. Yuen moves to the role of Founder to work on key business initiatives.

VANCOUVER, BCMarch 21, 2022  – Pontus Protein Ltd. (TSXV: HULK) (OTCQB: HLKKF) (FSE: 8YC) (“Pontus” or the “Company“) is pleased to announce the appointment of Mr. Avtar Dhaliwal as Chief Executive Officer and Mr. Mohsen Rahimi to the board as an independent board member, replacing Mr. Connor Yuen who will be moving to the position of founder. In his role as founder, Mr. Yuen will continue to work with the company on key business development initiatives and help transition the leadership while Mr Dhaliwal will be responsible for day-to-day operations. Mr. Yuen will also be stepping down from the Board of Directors.

Avtar Dhaliwal has been appointed as interim Chief Executive Officer of Pontus Protein Ltd effective immediately. He joined the Pontus board on March 7, 2022. Dhaliwal brings to Pontus his years of experience in the food industry with a specialty in supply chain, compliance and regulatory processes. He is a third-generation farmer and has managed over 1,000 acres of land, employing hundreds of employees, and overseeing the growth and cultivation of a wide variety of cash crops for retail and wholesale. Furthermore, Mr. Dhaliwal oversaw and focused on crop quality standardization, distribution and marketing from wholesalers, and direct to consumer sales and overseas sales in local markets. Dealing with distributors and associations, Mr. Dhaliwal placed produce into large box retailers and nationwide grocers such as Overwaitea and Safeway. Mr. Dhaliwal has also worked with wholesale and partners such as B.C. Fruit Packers Association and direct wholesale. Recently, as CEO of Modern Meat, Mr. Dhaliwal has been instrumental in navigating Modern Meat through compliance and regulatory hurdles of listing products and distributing with Costco and other large-scale distributors.

Mohsen Rahimi studied at the University of British Columbia in the highly regarded department of food, nutrition and health. There he developed an extensive knowledge in the field of health and systems management. Mr Rahimi currently serves as an independent director on multiple publicly traded companies ranging from the vegan, health, and technology sector. He further has experience in commercial retail and international import and export holding positions at Kowsar Holdings and Tin95 Holdings, which are both private investment firms. Mr. Rahimi also holds vast retail knowledge, growing existing health product chains and implementing state of the art technology platforms to provide superior customer care to maximize sales in multiple locations that generate millions in gross revenue per annum, while simultaneously operating an active on-line ecommerce business. He brings the expertise to grow and expand product distribution within local and international markets for products in the health field through online offerings and software distribution.

About Pontus Protein Ltd.

This is our future – the future of farming; Pontus Protein Ltd. is a Vancouver-based agricultural food and technology company focused on creating and acquiring the best technology. Highly sophisticated, AI-engineered robots, combined with our proprietary vertical farming and a commitment to sustainability. Our intellectual property optimizes efficiency for a shorter growing time and high productivity. We deliver healthy, affordable foods and nutrients into every diet in a closed, controlled environment avoiding all pesticides and GMOs.

Pontus Protein is publicly traded in Canada (TSXV: HULK), the United States (OTCQB: HLKKF) and Germany (FSE: 8YC) and you can find out more on our SEDAR profile.

Learn more about Pontus: Website | Investor Page | LinkedIn | YouTube | Twitter

On behalf of the Board of Directors

“Avtar Dhaliwal”

Avtar Dhaliwal, CEO
Pontus Protein Ltd.

Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect management’s expectations 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, statements relating to Pontus’ ability to revolutionize the plant based sector and enable millions to rethink their food choices. 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 Pontus’ Surrey Facility, 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) accept responsibility for the adequacy or accuracy of this release.

SOURCE Pontus Protein Ltd.

For further information: Please contact: Avtar Dhaliwal, Chief Executive Officer, (403) 589 7992; Investor Relations or Media enquiries: invest@pontuswaterlentils.com