An anonymous director reports

POND TECHNOLOGIES ANNOUNCES CLOSING OF FINAL TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

Further to the press release dated March 28, 2023, Pond Technologies Holdings Inc. closed yesterday the final tranche of its non-brokered private placement in the amount of 725,000 common shares in the capital of Pond Technologies at a purchase price of seven cents per common share for aggregate gross proceeds of $50,750. The common shares issued pursuant to the final tranche of the private placement are subject to a statutory hold period expiring Sept. 12, 2023.

In aggregate, Pond Technologies raised $421,750 (6,024,299 common shares) pursuant to the two tranches of the private placement. Net proceeds of the private placement will be used by Pond Technologies for general working capital purposes.

About Pond Technologies Holdings Inc.

Located in Markham, Ont., Pond Technologies is a technology leader in controlled environment cultivation of microalgae. In over 10 years of research and development, Pond Technologies has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED lights and patented carbon dioxide management. The use of concentrated CO2 from industrial waste streams enables Pond Technologies to boost the productivity of microalgae well beyond the capacity of outdoor alga growers, and allows industrial emitters to abate and ultimately recycle CO2. Pond Technologies is currently selling microalgae-derived anti-oxidant astaxanthin under its Regenurex brand. As microalgae are becoming increasingly important in pharmaceuticals and cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics, and biofuels, Pond Technologies has begun to license its technology to third parties for continuing licence fees and royalties. Pond Technologies recently added a biotech division focused on the growth of unique strains of microalgae to be used as a reproductive medium for the expression of human antibodies and proteins.

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