10:41 AM EDT, 05/29/2025 (MT Newswires) -- Food-tech innovation company Beyond Oil ( BEOLF ) was up near 3% at last look Thursday after saying it has signed an exclusive agreement with Baruchi Global Capital for the distribution of its oil filtration product in Mexico.

A statement noted the five-year term grants Baruchi exclusive rights to market and sell Beyond Oil's ( BEOLF ) product to local restaurants, hotels, and catering companies in Mexico. Baruchi will pay a license fee totalling US$150,000 for the calendar years 2025 and 2026, with structured provisions for annual license fees in subsequent years. Baruchi has placed an initial order of 10.8 tonnes of Beyond Oil's ( BEOLF ) product.

To maintain exclusivity, Baruchi must purchase a certain amount of product during each year for the duration of the agreement.

"This expansion in Mexico represents an important milestone in our global growth strategy," said Jonathan Or, chief executive. "Mexico's vibrant food service industry presents unique opportunities for our product. We are confident that Baruchi Global Capital, with their extensive resources, is a great partner to introduce our product to this key market."

The announcement comes a day after the company reported its first-quarter net loss widened to US$11 million, from US$0.71 million in the prior year period, primarily due to an increase in non-cash expenses, including fair value adjustments of derivative warrants, and share-based compensation expenses.

Revenue surged 660% to US$1 million, bolstered by strategic investment and global distribution momentum.

CEO Jonathan Or said: "As we continue to execute on our commercial strategy, we are seeing the benefits of investments made throughout 2024, with major distribution agreements signed in late 2024 and early 2025 already contributing meaningfully to our financial results. With our strengthened cash position and global pipeline, we believe we are well-positioned to continue our growth trajectory as we work towards a potential uplisting to a senior exchange."

The company's shares were last seen up $0.08, to $2.87, on the Canadian Securities Exchange.

Price: 2.87, Change: +0.08, Percent Change: +2.87