Pontus updates on phase one of production

Pontus is on track to complete its phase 1 of production, laboratory infrastructure construction by mid-June, at its Surrey, British Columbia production facility. The Lab will replace the current production capacity from Pontus' first farm in Victoria, B.C.

"We are very pleased to bring the first part of our production capabilities online. The Lab has three immediate benefits: firstly, allowing increased production for additional scientific testing as we work towards our nutraceutical regulations in the U.S. and Canada; secondly, allowing batch protein powder production enabling third-party manufacturers to initiate product development; and lastly, the Lab will allow us to further test and refine our new technologies, such as HARV ("Harvesting Automated Robotic Vehicle")," said Steve McArthur, Pontus' Chief Technology Officer.

Prior to securing the prebuilt 20,570 sq. ft. Surrey Facility, Pontus forecasted its annual production capacity at 6.4 metric tons of annualized product based on building a 10,000 sq. ft. facility. The additional space of the Surrey Facility has enabled Pontus to add the research and development Lab space and increase its overall production capacity. Based on detailed analysis, the Company is now projecting an increased production of up to 11.0 metric tons of annualized product, a 72% increase in output from previously stated numbers.