Pond Technologies Announces the Engagement of Corton Capital to Assist with a Private Placement of up to $5.25 Million Convertible Debentures and Extension of Crystal Wealth Loan - Seite 2

In addition to the Private Placement, and further to the prior release dated March 25, 2021, Pond announces that 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 further amend certain terms relating to Pond's obligations under its existing loan arrangements with Grant Thornton.

The agreement provides for, among other things, the postponement of all interest and principal payments until the earlier of September 30, 2023, and the date of closing at least $3 million under the Private Placement.

Thomas Masney, Pond CFO, commented, "Pond is very pleased with the amendments as it will assist in stabilizing our debt servicing expenses during the current expansion phase of its business plan. By taking these careful measures, we may greatly increase our financial runway, lower our short-term debt obligations, and increase the flexibility of our balance sheet. We look forward to keeping our shareholders updated as appropriate."

About Pond Technologies Holdings Inc.:

Located in Markham, Ontario, Pond Technologies has developed a proprietary system that can profitably transform CO2 into valuable products. Its Pond Carbon business focuses on absorbing greenhouse gas emissions, transforming these into food, feed, and nutraceutical ingredients. Pond 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.

For more information, please visit https://www.pondtech.com/.

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 use of proceeds therefrom, 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 TSXV 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 March 31, 2023, available on Pond's profile on the SEDAR website at www.sedar.com.