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Pond Technologies Announces Closing of Final Tranche of Non-Brokered Private Placement
Pond Technologies Announces Closing of Final Tranche of Non-Brokered Private Placement ...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n \n \n \n Pond Technologies Announces Closing of Final Tranche of Non-Brokered Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MARKHAM, ON\n \n \n ,\n \n \n May 12, 2023\n \n \n /CNW/ - Further to its press release dated\n \n March 28, 2023\n \n , Pond Technologies Holdings Inc. (\"\n \n Pond\n \n \") (TSXV: POND) (OTCQB: PNDHF) (FSE: 400), an ESG company addressing global sustainability challenges of wellness and climate change, announces the closing yesterday of the final tranche of its non-brokered private placement (\"\n \n Private Placement\n \n \") in the amount of 725,000 common shares in the capital of Pond at a purchase price of\n \n $0\n \n .07 per common share for aggregate gross proceeds of\n \n $50,750\n \n . The common shares issued pursuant to the final tranche of the Private Placement are subject to a statutory hold period expiring\n \n September 12, 2023\n \n .\n \n \n In aggregate, Pond raised\n \n $421,750\n \n (6,024,299 common shares) pursuant to the two tranches of the Private Placement. Net proceeds of the Private Placement will be used by Pond for general working capital purposes.\n \n \n \n About Pond Technologies Holdings Inc.:\n \n \n \n Located in\n \n Markham, Ontario\n \n , Pond is a technology leader in controlled environment cultivation of microalgae. In over ten years of R&D, Pond has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED lights and patented CO\n \n 2\n \n -Management. The use of concentrated CO\n \n 2\n \n from industrial waste streams enables Pond to boost the productivity of microalgae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO\n \n 2\n \n . Pond is currently selling microalgae-derived antioxidant astaxanthin under its Regenurex brand. As micro-algae are becoming increasingly important in pharmaceuticals and cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics and biofuels, Pond has begun to license its te...