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Pond Announces LOI To Option Zoo Bay Uranium Project And Change Of Business To A Mining Issuer
(TheNewswire) VANCOUVER, BRITISH COLUMBIA , April 27, 2026 – TheNewswire –...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"Pond Announces LOI To Option Zoo Bay Uranium Project And Change Of Business To A Mining Issuer\n(TheNewswire)\n\n\nVANCOUVER, BRITISH\nCOLUMBIA, April 27, 2026 – TheNewswire – Pond Technologies\nHoldings Inc. (TSXV: POND) (the “Company”) is\npleased to announce that it has entered into a non-binding letter of\nintent (the “LOI”) dated April 27, 2026, with UraniumX Discovery Corp.\n(“UraniumX”), a publicly listed arm's length British Columbia\nincorporated company headquartered in Vancouver, British Columbia and\ntrading on the Canadian Securities Exchange (CSE: STMN). UraniumX\nprincipal business is the acquisition, exploration and development of\nuranium resource properties. Pursuant to the LOI, the Company will\nhave an option to acquire a 100% interest in the Zoo Bay Mineral\nProperty (the “Property”), located in the Athabasca basin\nin Saskatchewan (the “Transaction”) from a wholly owned subsidiary\nof UraniumX.  In connection with the Transaction, the Company intends\nto complete a non-brokered private placement to raise gross proceeds\nof up to $1,000,000 (the “Concurrent Financing”). The LOI is to be superseded by\na definitive agreement (the “Definitive Agreement”) to be signed in due\ncourse.\n\n\nThe Transaction is subject to the approval of the TSX\nVenture Exchange (the “TSXV”) and is intended to constitute a\nchange of business and reverse takeover of the Company as defined in\nTSXV Policy 5.2 – Change of\nBusiness and Reverse Takeovers. The resulting\ncompany that will result from the completion of the Transaction\n(thereafter referred to as the “Resulting Issuer”) will be\nrenamed to a name as agreed to by the board of directors of the\nCompany (the “Name\nChange”).\nSubject to TSXV approval, the common shares of the Resulting Issuer\nwill trade on the TSXV under a new trading symbol to be determined by\nthe board of directors and the Resulting Issuer will seek to be listed\nas a Tier 2 mining issuer.\n\n\nThe Transaction is an Arm’s Length Transaction (as\nsuch term is defined in TSXV Policy 1.1 – Interpretation) and, in\nconnection with the announcement of the Transaction, trading in the\ncommon shares of the Company (the “Pond ...