MARKHAM, ON, Oct. 25, 2022 /CNW/ – Pond Technologies Holdings Inc. (“Pond“) (TSXV: POND) (OTCQB: PNDHF) (FSE: 400), an ESG company addressing global sustainability challenges of wellness and climate change, announces that, in respect of Pond’s non-brokered private placement previously disclosed in its press releases dated September 6, 2022 and September 28, 2022, the TSX Venture Exchange has granted an extension to the deadline for filing final documentation from October 24, 2022 to November 4, 2022. The extension will allow Pond to finalize remaining subscriptions and coordinate an orderly closing of its final tranche by such date.
Located in Markham, Ontario, Pond is a technology leader in controlled environment cultivation of microalgae. 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. The use of concentrated CO2 from industrial waste streams enables Pond to boost the productivity of microalgae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO2. Pond is currently selling microalgae-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.
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SOURCE Pond Technologies Holdings Inc.
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