Beyond Oil Provides Supplemental Disclosure Relating to its Annual General & Special Meeting

VANCOUVER, BC AND KIBBUTZ YIFAT, ISRAEL / ACCESSWIRE / April 18, 2024 / Beyond Oil Ltd. (CSE:BOIL)(OTCQB:BEOLF) ("Beyond Oil" or the "Company"), a food-tech innovation company extending the life of frying oil, reducing costs and waste, will host its annual general and special meeting of shareholders (the "Meeting") on Thursday, April 25, 2024 at 8:00 a.m. (Vancouver time) at the offices of Endeavor Trust Corporation, Suite 1150-777 Hornby Street, Vancouver, BC. The record date for the shareholders entitled to vote at the Meeting has been set as shareholders of record as at the close of business on March 19, 2024. The notice of meeting, proxy form, voter information form and information circular ("Circular", and collectively the "Meeting Materials") are located under the Company's SEDAR profile at www.sedar.com.

The business at the Meeting includes: setting the number of and electing directors of the Company; appointing an auditor for the ensuing year; approving the amendment to the Company's omnibus equity incentive plan; amending the deferred purchase price agreement (the "Deferred Purchase Price Agreement"); approving the extension of the expiry date of 2,683,333 warrants (the "SubcoWarrants"); and approving the extension of the expiry date of 2,241,324 warrants (the "Warrants").

The Company would like to provide shareholders with the following additional information in respect of the Deferred Purchase Price Agreement and the Subco Warrants to supplement the information in the Circular.

Regulatory Exemptions

The Company has made the determination that it is in the best interest of shareholders, for the Company to adhere to a high standard of corporate governance and request minority approval in respect of the Revised DPPA Resolutions and the Subco Extension Resolutions. The Company would like to clarify that notwithstanding the foregoing the Company would nonetheless be required to obtain minority shareholder approval as is required by Canadian Securities Administrators Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions MI 61-101 ("MI 61-101"). The Company will also be relying on Section 5.5(b) of MI 61-101, an exemption from the formal valuation requirements, which exemption is available to the Company as no securities of the Company are listed or quoted on any of the prescribed exchanges.