/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
MARKHAM, ON
, May 30, 2024 /CNW/ - Pond Technologies Holdings Inc. (the "Corporation" or "Pond") (TSXV: POND) announces the filing of the first quarter unaudited interim condensed consolidated financial statements of the Corporation for the three months ended March 31, 2024 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.
On May 30, 2024 the Board of Directors of Pond approved the issuance of 1,446,350 common shares in the capital of the Corporation. This share issuance is a result of a number of Restricted Share Units ("RSU") Awardees holding fully vested RSUs, requesting to settle their RSUs into common shares of the Corporation and pursuant to the Corporation's Equity Incentive Plan. Included in issued common share are 698,800 common shares issued to executive management.
About Pond Technologies Holdings Inc.:
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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
SOURCE Pond Technologies Holdings Inc.
