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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.
