Mr. Grant Smith reports
POND TECHNOLOGIES HOLDINGS INC. GRANTED MANAGEMENT CEASE TRADE ORDER
Further to Pond Technologies Holdings Inc.’s press release dated April 16, 2025, the Ontario Securities Commission (OSC) has granted a management cease trade order (MCTO) pursuant to National Policy 12-203 — Management Cease Trade Orders. The MCTO was issued in connection with the delay by the company in filing its audited annual financial statements for the year ended Dec. 31, 2024, the related management’s discussion and analysis, and chief executive officer and chief financial officer certifications.
As previously disclosed, the delay in the annual filings is due to a combination of administrative challenges experienced following the departure of the company’s former chief financial officer, as well as delays attributed to certain personal circumstances affecting key personnel responsible for leading the preparation and audit of the annual filings. The company is continuing to work diligently with its auditor to complete the audit and currently expects to file the annual filings within approximately six weeks, and in any event no later than June 30, 2025.
The MCTO restricts all trading in securities of the company, whether direct or indirect, by the chief executive officer, chief operating officer, chief financial officer and former chief financial officer of Pond Technologies Holdings. For clarity, this MCTO does not affect the ability of other shareholders to trade in the company’s securities.
During the MCTO, the general investing public will continue to be able to trade in the company’s common shares listed on the TSX Venture Exchange. The company has also imposed an insider trading blackout pending the filing of the annual filings.
The company confirms that it intends to comply with the provisions of the alternative information guidelines set out in NP 12-203 for so long as it remains in default of the requirement to file the annual filings. The company is not subject to any insolvency proceedings, and there is no other material information concerning the affairs of the company that has not been generally disclosed.
About Pond Technologies Holdings Inc.
Located in Markham, Ont., Pond is a technology leader in controlled environment cultivation of microalgae. In over 10 years of research and development, Pond has developed a robust disruptive technology platform based on LED (light-emitting diode) lights and patented carbon dioxide management. The use of concentrated CO2 from industrial waste streams enables Pond to boost 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 microalgae become 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 continuing licensing fees and royalties. Pond recently added a biotechnology division focused on the growth of unique strains of microalgae to be used as a reproductive medium for the expression of human antibodies and proteins.