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Pond Technologies Announces $1,000,000 Private Placement Offering of Units

MARKHAM, ON , June 4, 2020 /CNW/ - Pond Technologies Holdings Inc. ("Pond") (POND.V) (PNDHF) announced today that it has commenced a non-brokered private placement offering (the "Offering") of up to 4,000,000 units of Pond ("Units") at a purchase price of $0.25 per Unit for aggregate gross proceeds of up to $1,000,000 .

Each Unit is 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 $0.25 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 $1.00 per Common Share for 20 consecutive trading days on the TSX Venture Exchange (the "TSXV") and (ii) the date that is two years after the date that the Warrant is issued. The Common Shares and Warrants comprising the Units will be subject to a statutory hold period which will expire in four months and one day from the date of issuance.

To date, Pond has received subscriptions for an aggregate of 3,645,000 Units ($911,250) under the Offering. Proceeds of the Offering are presently intended to be used for working capital.

The TSXV has conditionally accepted the Offering, requiring Pond to close the Offering and to satisfy the TSXV's final acceptance requirements by no later than June 19, 2020 , subject to any application Pond may make to extend such deadline.

About Pond Technologies Holdings Inc.:

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.

SOURCE Pond Technologies Holdings Inc.


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