MARKHAM, ON, Oct. 2, 2023 /CNW/ - Pond Technologies Holdings Inc. ("Pond") (TSXV: POND) (OTCQB: PNDHF) (FSE: 400), an ESG company addressing global sustainability challenges of wellness and climate change, announces that, further to its press release dated June 6, 2023, it has entered into an agreement with Grant Thornton Limited, in its capacity as court-appointed receiver and manager of Crystal Wealth Management System Limited, to postpone all interest and principal payments until October 16, 2023 under its existing loan arrangements with Grant Thornton. The postponement allows further time to complete its private placement of convertible debentures which was also announced in the June 6, 2023 press release.
Forward-Looking Statements:
This press release contains forward–looking statements within the meaning of applicable securities laws, including statements regarding anticipated closing of the private placement and the repayment of its loan with Grant Thornton. Such forward–looking statements are based on certain key expectations and assumptions made by Pond, including, among others, assumptions regarding Pond's ability to successfully close subscriptions under the private placement, obtaining TSX Venture Exchange acceptance of the private placement, compliance with its loan obligations, continued commercialization of Pond's technology, the successful negotiation of licensing, supply and commercial agreements on terms acceptable to Pond, the continued legislative regime in which Pond operates, availability of cost–effective labour and supplies, the proper functioning of Pond's technology, the quality of the algae produced, the demand for Pond's products, the ability of Pond to successfully compete, cash flow and expenses, and obtaining and maintaining intellectual property protection. Although Pond believes that the expectations and assumptions on which such forward–looking statements are based are reasonable, undue reliance should not be placed thereon and Pond can give no assurance that they will prove to be correct. By their nature, such forward–looking statements are subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed, including the risks set forth in Pond's management's discussion and analysis of financial condition and results of operations for its year ended December 31, 2022, and for the interim period ended June 30, 2023, available on Pond's profile on the SEDAR website at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on this forward–looking information, which is given as of the date hereof, and to not use such forward–looking information for anything other than its intended purpose. Pond does not undertake any obligation to update publicly or revise any forward–looking information, whether as a result of new information, future events or otherwise, except as required by law.
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.
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