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Pond Technologies Holdings Inc. Announces Closing of Acquisition of Regenurex Health Corporation
Pond Technologies Holdings Inc. Announces Closing of Acquisition of Regenurex Health Corpo...
About this update from Pond Technologies Holdings Inc.
[{"type":"text","content":"\n\n\n\nPond Technologies Holdings Inc. Announces Closing of Acquisition of Regenurex Health Corporation\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\nCanada NewsWire\nCALGARY, Jan. 31, 2019\n\n\n\nCALGARY, Jan. 31, 2019 /CNW/ - Pond Technologies Holdings Inc. (\"Pond\") (TSX.V: POND) is pleased to announce that, further to its press releases dated August 27, 2018 and December 11, 2018, Pond has closed its acquisition of Regenurex Health Corporation (\"Regenurex\") effective January 30, 2019.\nThe acquisition was affected by way of an amalgamation of Regenurex and a wholly-owned subsidiary of Pond, Pond Naturals Inc. (\"Pond Naturals\"), with the resulting entity continuing under the name Pond Naturals. Pond Naturals brings together the previously announced acquisition of the distribution operations of RFI Canada with Regenurex's 10,000 square foot commercial astaxanthin production facility.  Dr. Curtis Braun, Pond Naturals CEO, and Grant Smith, President, bring over 50 years of experience in the manufacture, distribution, and sales of nutraceutical products. \nSteve Martin, Pond CEO, commented, \"The purchase of Astaxanthin manufacturer, Regenurex, marks a significant milestone in Pond's plan to build Pond Naturals into a vertically integrated manufacturer, distributor, and retailer of bulk and branded nutraceutical products. Leveraging Pond's technology will enable the rapid scaling of the Agassiz plant while the integration of Regenurex's natural extraction technology at future Astaxanthin facilities will provide a strong competitive advantage.\" \nThe transaction was concluded on the same terms as those announced in the press release dated December 11, 2018 and provides for the issuance of $5,000,000 in Pond shares ($0.80 per Pond share) and included a $500,000 injection of capital.  \nAs a result of the amalgamation, among other things:\nformer holders of the Class A preferred shares of Regenurex received, in the aggregate, 3,539,198 non-voting senior preferred shares of Pond Naturals. The senior preferred shares are exchangeable at the election o...