Pond Technologies Holdings Inc. announced a non-brokered private placement of 17,857,143 common shares at an issue price of CAD 0.07 per Common Share for aggregate gross proceeds of up to CAD 1,250,000 on March 28, 2023. The transaction included participation from returning investor Colmac Holdings Limited. No warrants are being issued pursuant to the transaction, and the transaction may be completed in one or more tranches.

On the same date, the company issued 5,299,999 Common Shares at an issue price of CAD 0.07 for the gross proceeds of CAD 370,999.93 in the first tranche. Out of 5,299,999 shares, 1,785,714 Common Shares are subscribed by returning investor an issue price of CAD 0.07 for the gross proceeds of CAD 125,000. The Common Shares are subject to a statutory hold period expiring four months and a day from the date of issuance. The transaction has received conditional approval from the TSX Venture Exchange.