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For more than 30 years, Cabling Installation & Maintenance has provided useful, practical information to professionals responsible for the specification, design, installation and management of structured cabling systems serving enterprise, data center and other environments. These professionals are challenged to stay informed of constantly evolving standards, system-design and installation approaches, product and system capabilities, technologies, as well as applications that rely on high-performance structured cabling systems. Our editors synthesize these complex issues into multiple information products. This portfolio of information products provides concrete detail that improves the efficiency of day-to-day operations, and equips cabling professionals with the perspective that enables strategic planning for networks’ optimum long-term performance.

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Pond Technologies Holdings Inc. Announces Sale of Pembina Petroleum and Natural Gas Assets

MARKHAM, ON / ACCESSWIRE / June 22, 2021 / Pond Technologies Holdings Inc. (the "Corporation" or "Pond") (TSX.V:POND), (OTCQB:PNDHF) an ESG company addressing global sustainability challenges of climate change and nutrition, is pleased to announce it completed a transaction with Grizzly Resources Ltd. ("Grizzly") on June 16, 2021 to sell all of its petroleum and natural gas assets in the Pembina Area, Alberta (the "Assets") (the "Divestiture").

As part of the Divestiture, Grizzly will assume all abandonment and reclamation liabilities related to the Assets and pay up to $2.25 million in future conditional consideration to Pond upon the sale of the assets and/or upon the resumption of production.

Thomas Masney, CFO at Pond stated "Eliminating Pond's liability related to the legacy Pembina assets gives us more flexibility and allows us to continue on our aggressive growth path. We are pleased with the outcome and the possibility of being able to generate up to $2.25 million in future consideration from the Pembina asset."

Grant Smith President & CEO at Pond said "This agreement allows Pond to clean up its balance sheet, by removing the liability surrounding the legacy oil and gas assets included within the initial go public transaction. As a company focused on addressing growing sustainability challenges, we are excited to look to the future and with this transaction behind us, we can do just that. Our sphere of opportunity is global, and we have many initiatives underway which we are excited to announce in the coming months."

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 the 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 release.

For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201; or Cole Stevens at c.stevens@pondtech.com

SOURCE: Pond Technologies Holdings Inc.



View source version on accesswire.com:
https://www.accesswire.com/652636/Pond-Technologies-Holdings-Inc-Announces-Sale-of-Pembina-Petroleum-and-Natural-Gas-Assets

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