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Pond Technologies Announces Closing of Non-Brokered Private Placement at Premium to Market Price and Initiation of New Non-Brokered Private Placement at the Market Price
Pond Technologies Announces Closing of Non-Brokered Private Placement at Premium to Marke...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n \n \n \n Pond Technologies Announces Closing of Non-Brokered Private Placement at Premium to Market Price and Initiation of New Non-Brokered Private Placement at the Market Price\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 Nov. 1, 2022\n \n \n /CNW/ - Further to its press release dated\n \n October 25, 2022\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 that upon further discussions with potential investors, it has closed its non-brokered private placement (the \"\n \n Current Private Placement\n \n \") at a premium to market price announced on\n \n September 6, 2022\n \n with no further subscriptions. Accordingly, as previously disclosed on\n \n September 28, 2022\n \n the Current Private Placement has been completed in the aggregate amount of 2,006,667 common shares of Pond (\"\n \n Common Shares\n \n \") at a purchase price of\n \n $0.15\n \n per Common Share for aggregate gross proceeds of\n \n $301,000.00\n \n . The Common Shares issued pursuant to the Current Private Placement are subject to a statutory hold period expiring\n \n January 28, 2022\n \n . The Current Private Placement included a subscription by O'Connor Holdings Limited (an entity controlled by Mr.\n \n Dan O'Connor\n \n , Chief Operating Officer of Pond) for 1,666,667 Common Shares at an aggregate subscription amount of\n \n $250,000.00\n \n . Insider participation constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"\n \n MI 61-101\n \n \"). Pond has relied upon the exemptions from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively. Neither the fair market value of the Common Shares purchased by such insider nor the fair market value of the consideration ...