MARKHAM, ON / ACCESSWIRE / September 13, 2021 / Pond Technologies Holdings Inc. ('Pond' or the 'Company') (TSXV:POND)(OTCQB:PNDHF)(FSE:4O0), an ESG company addressing global sustainability challenges of climate change and nutrition, today announced that it has been made aware of and was requested by the OTC Markets Group Inc. ('OTC Markets') to comment on recent activity taken by third parties that has been identified by OTC Markets as 'promotional activity' in respect of Pond.
Pond first became aware of the promotional activities pursuant to written correspondence from OTC Markets on September 8, 2021. OTC Markets provided examples of an e-mail campaign from the following sources: (i) an e-mail dated September 8, 2021 from Penny Picks and(ii) an e-mail dated September 7, 2021 from Microcap Daily. The materials provided to Pond generally reproduced segments from Pond news releases, the annual information form of Pond, financial information, or the current corporate presentation of Pond previously publicly disclosed on the Company's website and/or filed on the SEDAR website at www.sedar.com (the Canadian System for Electronic Analysis and Retrieval where Canadian reporting issuers satisfy their continuous disclosure public filing obligations under securities laws), interspersed, in some cases, with statements from such third parties using promotional language and speculation regarding upside potential of Pond's stock price. Among other things, such statements depicted Pond as a 'sleeping giant' and a 'low priced sleeper' and spoke to Pond's market opportunities using hyperbole.
September 8, 2021 was also the same day the Company issued its news release in respect of its joint commercialization arrangement with Livalta, an AB Agri company, regarding the production of algae-based animal feed ingredients, which is a material and positive event for the Company. Accordingly, it is the Company's view that any increase in the market value or trading volume of the Company's shares at such time were likely attributable in large measure to such news release rather than the promotional materials.
The Company does not believe the statements made in the promotional materials were materially false and/or misleading, however, it is possible that certain excerpts might be read as misleading and/or incomplete and readers should not place undue reliance on the promotional materials. Specifically, the Company does not condone the use of sensational language to describe the Company's business prospects or the growth potential of the Company's industry. Pond does not have any contractual or other relationship with the third party sources of such materials and did not review or consent to its disclosure. Accordingly, the views and expectations contained therein are solely those of the authors and are subject to the Company's forward-looking statements disclaimers previously disclosed to the public.
In addition, at OTC Markets' request and after inquiry of Pond management, its directors and control persons, its officers, directors, any controlling shareholders, or any third-party service providers, Pond confirms that none of such persons have, directly or to the best of their knowledge, indirectly, been involved in any way (including payment of a third-party) with the creation, distribution, or payment of promotional materials related to the Company and its securities.
Also pursuant to OTC Markets' request and after inquiry of management, the directors, control persons, and third-party service providers, the Company confirms that no securities of the Company have been purchased or sold by such persons within the past 90 days, other than in respect of the participation by Colmac Holdings Limited, an entity controlled by Mr. Robert McLeese, Chairman of Pond, which subscribed for 333,333 units of Pond in the Company's $1,500,000 non-brokered private placement offering that recently closed on August 17, 2021, and the exercise of 284,000 common share purchase warrants at an exercise price of $0.25 by board member, Jacob Gamble, on July 25, 2021. Such participation was disclosed in Pond's press release dated September 9, 2021.
The only third-party providers engaged by the Company to provide public relations services, marketing, or other related services, including the promotion of the Company or its securities in the last twelve months are North Equities and TraDigital Marketing Group.
Finally, the Company confirms it has not issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
Pond values market integrity and finds it highly unfortunate having to address such promotional third-party activities. All investors are encouraged to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made under its SEDAR profile and www.sedar.com.
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 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 news release.
SOURCE: Pond Technologies Holdings Inc.
View source version on accesswire.com: