Pontus Protein Ltd. announced a non-brokered private placement consisting of up to a maximum of 31,250,000 units of the company (each, a "Unit") at a subscription price of $0.16 per Unit for gross proceeds up to a maximum of $5,000,000 (the "Offering"). Each Unit will consist of one common share in the capital of the company (each, a "Share") and one Share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to acquire one additional share (each, a "Warrant Share") at a price of $0.30 per Warrant Share for a period of 2 years from the date of issuance. The Offering may close in one for more tranches. The proceeds from the Offering are expected to be used for general working capital purposes. Finder's fees may be payable in connection with the Offering in accordance with the policies of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange. None of the securities to be issued in connection with the Offering will be or have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This release is being issued pursuant to Rule 135c of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities, in any state where such offer, solicitation or sale would be unlawful.