04:39 PM EDT, 03/19/2025 (MT Newswires) -- Beyond Oil ( BEOLF ) , a food-tech innovation company that saw its shares drop from a 52-week high on Wednesday, said it signed its first distribution agreement in Portugal with Serious Formula Ltd, a Lisbon-based company specializing in the foodservice and hospitality sectors.

Serious Formula. will market, distribute, and sell Beyond Oil's ( BEOLF ) proprietary frying-oil filtration solution to restaurants, hotels, catering companies, and institutional food providers in Portugal. The agreement includes an initial order of 1,080 kg of Beyond Oil's ( BEOLF ) product and establishes a structured expected purchasing plan including minimum estimated commitments of (Euro)1.13 million over the agreement's five-year term.

A statement noted this agreement marks Beyond Oil's ( BEOLF ) first commercial presence in Portugal.

The company's shares closed down $0.29 to $4.69 on the Canadian Securities Exchange, falling off a 52-week high.