Pond Technologies Announces Closing of $1,500,000 Unit Offering

MARKHAM, ON / ACCESSWIRE / August 17, 2021 / Pond Technologies Holdings Inc. (“Pond“) (TSXV:POND)(OTCQB:PNDHF)(FSE:400), an ESG company addressing global sustainability challenges of wellness and climate change announced today that it has closed a non-brokered private placement offering (the “Offering“) of 3,333,333 units of Pond (“Units“) at a purchase price of $0.45 per Unit for aggregate gross proceeds of $1,500,000.

Each Unit was comprised of one (1) common share in the capital of Pond (“Common Shares“) and one-half (1/2) Common Share purchase warrant of Pond (“Warrants“), with each Warrant entitling the holder thereof to purchase one half (1/2) Common Share at a purchase price of $0.60 and expiring on the date that is the earlier of: (i) 30 days after the date on which Pond gives notice to the holders of the Warrants after the Common Shares have traded at a closing price of greater than $1.35 per Common Share for 20 consecutive trading days on the TSX Venture Exchange (the “TSXV“) and (ii) the date that is two years after the date that the Warrant is issued. The Common Shares and Warrants comprising the Units are subject to a statutory hold period which will expire no later than December 18th, 2021. No fees or commissions were paid in connection with this private placement.

Net proceeds of the Offering are expected to be used by Pond for general working capital purposes.

As a result of closing of the Offering, there are currently 46,608,851 Common Shares issued and outstanding.

Grant Smith President & CEO Pond Technologies said “As we continue to execute on our growth objectives, this strategic non-brokered private placement will allow for some additional balance sheet flexibility. On the heels of signing a landmark agreement for the production of complex proteins for rapid diagnostic tests with a North American fortune 500 company, we could not be more excited for the future. The validation of our technology from one of Canada’s largest companies has added to the momentum we are seeing in discussions with other multinationals. We continue to focus on revenue generating opportunities and look forward to keeping our stakeholders apprised of further developments.”

About Pond Technologies Holdings Inc.:

Located in Markham, Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of climate change and nutrition. Pond’s proprietary growth platform, including patented advanced photonics, optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms. This enables industrial emitters to generate new revenue streams from the transformation of underutilized CO2 to valuable algae-based products, such as protein for animal feed and nutraceutical products like Chlorella, Spirulina, and Astaxanthin for human consumption. For more information visit https://www.pondtech.com/.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201; or Cole Stevens at c.stevens@pondtech.com

SOURCE: Pond Technologies Holdings Inc.

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