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Pond Technologies Holdings Inc. has appointed Nigel deGruyther as Vice President of Pond Biotech, enhancing its leadership team. DeGruyther previously led business development at Cynapsus Therapeutics, contributing to its acquisition for CAD$841 million. His expertise in diagnostics and pharma, alongside a robust financial network, is expected to drive Pond's biotech growth. The company focuses on leveraging micro-algae cultivation technology to advance pharmaceuticals and sustainability. Pond's recent developments include a successful private placement and the creation of a Biotech division.
Pond Technologies Holdings Inc. (OTCQB:PNDHF) announced an agreement on March 24, 2021, with Grant Thornton Limited to amend loan terms. The amendment extends the loan term to June 30, 2023, requiring a payment of $900,000 by March 31, 2021, followed by monthly principal payments of $50,000 starting July 31, 2021, and quarterly interest payments at 8%. CFO Thomas Masney stated that these amendments will help stabilize debt servicing amid Pond's business expansion. Pond specializes in micro-algae cultivation technology and is actively developing its Biotech division.
Pond Technologies Holdings Inc. (OTCQB: PNDHF) announced a non-brokered private placement of up to 10,000,000 units at $0.35 each, aiming for total gross proceeds of up to $3,500,000. Each unit will consist of a common share and a warrant to purchase another common share at $0.45, expiring in two years. The funds are earmarked for general working capital. The TSX Venture Exchange conditionally accepted the offering, requiring a closure by March 5, 2021.
Pond Technologies Holdings Inc. has appointed Anthony J. Giovinazzo to its Board of Directors. He brings extensive experience from his previous role as founder and CEO of Cynapsus Therapeutics, which raised CAD$176 million and was acquired for CAD$841 million. Giovinazzo will advise on the firm's new Biotech Division. Additionally, Robert McLeese has taken over as Chairman following Cameron Mingay's resignation. Pond focuses on sustainable solutions through micro-algae cultivation and has recently launched a Biotech division aimed at developing unique algae strains for therapeutic uses.
Pond Technologies Holdings Inc. (TSX.V:POND) (OTCQB:PNDHF) has launched a new Biotech division, responding to customer demand. This division will utilize Pond's proprietary micro-algae growth platform to create unique algae strains for producing complex proteins used in diagnostics and therapeutics. Micro-algae offer advantages over traditional methods, including easier scalability and superior product quality. CEO Grant Smith emphasized that this division could significantly drive revenue, while promising test results have already been achieved. Pond continues to innovate in the biotechnology space.
Pond Technologies Holdings Inc. (TSXV:POND)(OTCQB:PNDHF) has announced an agreement with Georgian Villas Inc., controlled by director Robert McLeese, to satisfy $59,980.97 in debt via the issuance of 181,761 common shares at a deemed price of $0.33 each. This strategic move allows Pond to conserve cash and reflects Georgian Villas' commitment to the company. The share issuance is pending approval from the TSX Venture Exchange and will be subject to a four-month hold period.
Pond Technologies Holdings Inc. (OTCQB:PNDHF) announced the launch of a containerized algae growth system for global export, priced at US$1.6 million. This scalable unit includes a laboratory, photobioreactor, controls, and training, enabling the growth, harvesting, and processing of algae biomass. Pond's CEO, Grant Smith, highlighted the system's potential to capture unmet global market demand by transforming greenhouse gas emissions into valuable products. The company is actively quoting units for customers in Asia, Europe, and North America.