Pontus Protein Ltd. announced a non-brokered private placement of up to a maximum of 31,250,000 units of the company at a subscription price of CAD 0.16 per unit for gross proceeds up to a maximum of CAD 5,000,000 on September 14, 2021. Each unit will consist of one common share in the capital of the company and one share purchase warrant, with each warrant entitling the holder thereof to acquire one additional share at a price of CAD 0.30 per warrant share for a period of 2 years from the date of issuance. The transaction may close in one for more tranches. Finder's fees may be payable in connection with the transaction in accordance with the policies of the TSX Venture Exchange. The securities issued will be subject to a statutory hold period expiring four months and one day after closing of the transaction. The completion of the transaction is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals, including approval of the Exchange.