TSX Venture Exchange Approves Shares for Debt Transactions and Extension of Pond’s Unit Offering
MARKHAM, ON, June 19, 2020 /CNW/ – Pond Technologies Holdings Inc. (the “Corporation” or “Pond“) (TSX.V: POND) (OTCQB: PNDHF), an ESG company addressing global sustainability challenges of climate change and nutrition, announces that the unaudited interim condensed consolidated financial statements of the Corporation for the three months ended March 31, 2020 and the related management’s discussion and analysis have been filed and are available for review on the SEDAR website at www.sedar.com or on the Corporation’s website at www.pondtech.com.
Further to Pond’s May 19, 2020 news release, the TSX Venture Exchange (“TSXV“) has approved and the Corporation has closed the shares for debt transactions announced at that time. In connection with the closing: (1) Cross Pond Ventures LLC has been issued 386,902 shares as payment for $85,118.46 of advisory fees owing under its master project development Agreement with Pond, representing a deemed price per share of $0.22; (2) Georgian Villas Inc. has been issued 259,152 shares to satisfy $57,013.49 of accrued interest on its $2,000,000 principal amount secured convertible loan to Pond, representing a deemed price per share of $0.22; (3) ExCap Advisors Inc. has been issued 149,277 shares in satisfaction of $35,080 of consulting fees owing, representing a deemed price per share of $0.235; and (4) Steven Martin has been issued 73,214 Shares to satisfy $16,839.25 owing pursuant to past services rendered to Pond, representing a deemed price per share of $0.23.
The shares are subject to a statutory hold period which will expire in four months and one day from the date of issuance.
In addition, further to Pond’s June 4, 2020 news release regarding its unit offering, Pond has obtained an extension from the TSXV to close the offering and to satisfy the TSXV’s related final acceptance requirements by no later than July 14, 2020. Pond currently anticipates closing its unit offering on or about June 26, 2020.
About Pond Technologies:
Located in Markham, Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of climate change and nutrition. Pond’s proprietary growth platform, including patented advanced photonics, optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms. This enables industrial emitters to generate new revenue streams from the transformation of underutilized CO2 to valuable algae-based products, such as protein for animal feed and nutraceutical products like Chlorella, Spirulina, and Astaxanthin for human consumption. For more information visit https://www.pondtech.com/.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.