10:15 AM EST - Pontus Protein Ltd. : Has signed a non-binding letter of intent with Blue Ocean Tea Company, a private arm's length British Columbia corporation, and leading tea beverage designer and manufacturer who has worked with Revolution Tea, Ministry of Tea, UK, Wize Tea, JusTea Beverages, to develop ready to drink and portion packed beverages using Pontus Plant Protein. The LOI is an expression of interest between Pontus and Blue Ocean covering product development, production, distribution and sales. Connor Yuen , CEO of Pontus stated, "Our market analysis identified the $55 billion global tea market as an effective early target for Pontus' added value products. The tea market's stated forecast growth is 6.6% CAGR*, with the fastest growth predicted in products with the addition of other healthful ingredients, such as Pontus Plant Protein. We are so fortunate to have Mark and his team's experience on our doorstep and look forward to exploring both ready to drink and packaged beverages, to capture this market opportunity." Pontus Protein Ltd.
shares V.HULK are trading down 2 cents at $1.05.
