{"id":452048,"date":"2021-03-05T16:34:36","date_gmt":"2021-03-05T21:34:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452048"},"modified":"2021-03-05T16:34:36","modified_gmt":"2021-03-05T21:34:36","slug":"pond-technologies-announces-closing-of-3500000-unit-offering","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pond-technologies-announces-closing-of-3500000-unit-offering\/","title":{"rendered":"Pond Technologies Announces Closing of $3,500,000 Unit Offering"},"content":{"rendered":"
\n

Canada NewsWire<\/p>\n<\/p><\/div>\n

\n

\n MARKHAM, ON<\/span>, March 5, 2021<\/span> \/CNW\/ –\u00a0Pond Technologies Holdings Inc. (“Pond<\/b>“) (TSX.V: POND) (OTCQB: PNDHF) (FSE: 400),\u00a0an ESG company addressing global sustainability challenges of wellness and climate change\u00a0announced today that it has closed its previously announced non-brokered private placement offering (the “Offering<\/b>“) of 10,000,000\u00a0units of Pond (“Units<\/b>“) at a purchase price of $0.35<\/span> per Unit for aggregate gross proceeds of $3,500,000<\/span>.<\/p>\n

Each Unit was comprised of one (1) common share in the capital of Pond (“Common Shares<\/b>“) and one (1) Common Share purchase warrant of Pond (“Warrants<\/b>“), with each Warrant entitling the holder thereof to purchase one (1) Common Share at a purchase price of $0.45<\/span> and expiring on the date that is the earlier of: (i) 30 days after the date on which Pond gives notice to the holders of the Warrants after the Common Shares have traded at a closing price of greater than $1.35<\/span> per Common Share for 20 consecutive trading days on the TSX Venture Exchange (the “TSXV<\/b>“) and (ii) the date that is two years after the date that the Warrant is issued. The Common Shares and Warrants comprising the Units are subject to a statutory hold period which will expire on July 6, 2021<\/span>.<\/p>\n

In connection with closing of the Offering, Pond paid an aggregate of $40,220<\/span> and issued an aggregate of 436,796 Warrants as a finder’s fee to certain finders, representing 1.1% of the gross proceeds received and 4.3% of the number of Warrants issued under the Offering.<\/p>\n

Net proceeds of the Offering will be used by Pond for general working capital purposes.<\/p>\n

As a result of closing of the Offering, there are currently 42,322,229\u00a0Common Shares issued and outstanding.<\/p>\n

\n About Pond Technologies Holdings Inc.:<\/b>\n <\/p>\n

Located in Markham, Ontario<\/span>, Pond is a technology leader in controlled environment cultivation of micro-algae. 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<\/sub>-management. The use of concentrated CO2<\/sub> from industrial waste streams enables Pond to boost productivity of micro-algae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO2<\/sub>. Pond is currently selling micro-algae 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 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.<\/p>\n

For more information, please visit https:\/\/www.pondtech.com\/<\/a>. <\/p>\n

\n Neither 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 news release. <\/i>\n <\/p>\n

SOURCE Pond Technologies Holdings Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada NewsWire MARKHAM, ON, March 5, 2021 \/CNW\/ –\u00a0Pond Technologies Holdings Inc. (“Pond“) (TSX.V: POND) (OTCQB: PNDHF) (FSE: 400),\u00a0an ESG company addressing global sustainability challenges of wellness and climate change\u00a0announced today that it has closed its previously announced non-brokered private placement offering (the “Offering“) of 10,000,000\u00a0units of Pond (“Units“) at a purchase price of $0.35 per Unit for aggregate gross proceeds of $3,500,000. Each Unit was comprised of one (1) common share in the capital of Pond (“Common Shares“) and one (1) Common Share purchase warrant of Pond (“Warrants“), with each Warrant entitling the holder thereof to purchase one (1) Common Share at a purchase price of $0.45 and expiring on the date that is the earlier of: (i) 30 … <\/p>\n

Continue reading “Pond Technologies Announces Closing of $3,500,000 Unit Offering”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452048","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPond Technologies Announces Closing of $3,500,000 Unit Offering - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pond-technologies-announces-closing-of-3500000-unit-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pond Technologies Announces Closing of $3,500,000 Unit Offering - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire MARKHAM, ON, March 5, 2021 \/CNW\/ –\u00a0Pond Technologies Holdings Inc. (“Pond“) (TSX.V: POND) (OTCQB: PNDHF) (FSE: 400),\u00a0an ESG company addressing global sustainability challenges of wellness and climate change\u00a0announced today that it has closed its previously announced non-brokered private placement offering (the “Offering“) of 10,000,000\u00a0units of Pond (“Units“) at a purchase price of $0.35 per Unit for aggregate gross proceeds of $3,500,000. 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