Pond Technologies Announces Closing of $1,000,000 Unit Offering

MARKHAM, ON, June 30, 2020 /CNW/ - Pond Technologies Holdings Inc. ("Pond") (TSX.V: POND) (OTCQB: PNDHF), an ESG company addressing global sustainability challenges of climate change and nutrition, is pleased to announce that it has closed its previously announced non-brokered private placement offering (the "Offering") of 4,000,000 units of Pond ("Units") at a purchase price of $0.25 per Unit for aggregate gross proceeds of $1,000,000.

Each Unit was 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 are subject to a statutory hold period which will expire October 27, 2020 or October 30, 2020, depending on the tranche in which such securities were closed upon.

In connection with closing of the Offering, Pond paid an aggregate of $15,000 and issued an aggregate of 48,000 Warrants as a finder's fee to certain finders, representing 1.5% of the gross proceeds received and 1.2% of the number of Warrants issued under the Offering.

Net proceeds of the Offering will be used by Pond for working capital.

As a result of closing of the Offering, there are currently 26,843,252 Common Shares issued and outstanding.

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.