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.
