Business
Pond Technologies Announces Closing of Second Tranche of Non-Brokered Private Placement
MARKHAM, ON / ACCESSWIRE / March 28, 2022 / Pond Technologies Holdings Inc. (" Pond ") (TSX-...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"Pond Technologies Announces Closing of Second Tranche of Non-Brokered Private PlacementMARKHAM, ON / ACCESSWIRE / March 28, 2022 / Pond Technologies Holdings Inc. (\"Pond\") (TSX-V:POND)(OTCQB:PNDHF)(FSE:4O0), an ESG company addressing global sustainability challenges of wellness and climate change, today announced the closing of the second tranche (\"Second Tranche\") of a non-brokered private placement (\"Private Placement\") of 3,420,000 common shares of Pond (\"Common Shares\") at a purchase price of $0.20 per Common Share for aggregate gross proceeds of $684,000. No warrants are being issued pursuant to the Private Placement.The TSX Venture Exchange (\"TSXV\") has conditionally accepted the Private Placement, requiring Pond to close all tranches under the Private Placement and to satisfy the TSXV's final acceptance requirements by no later than April 1, 2022.Net proceeds of the Private Placement will be used by Pond for general working capital purposes.About Pond Technologies Holdings Inc.:Located in Markham, Ontario, Pond Technologies is commercializing its patent protected algae growing platform, which converts carbon dioxide (CO2) into algal-based commercial products. Its algae growing platform converts the CO2 found in the untreated stack gas of industrial emitters into animal, human feeds, nutraceuticals, and natural fertilizers. The key is the model is the vertical integration from the initial capturing of the carbon to the growing of algae, to the end sustainable product. In over ten years of R&D, Pond has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED-lights, and patented CO2-Management. Pond has begun to license its technology to third parties for ongoing license fees and royalties. Pond recently added a Biotech division focused on the growth of unique strains of micro-algae to be used as a reproductive medium for the expression of human anti-bodies and proteins.Forward-Looking Statements:This press release contains forward‐looking statements within the meaning of applicable securities laws, including statements regarding anticipated closings under the Private Placement and the use of proceeds therefrom, and anticipated future business opportunities and operations. Such forward‐looking statements are based on certain key expectations and assumpt...