Pond Technologies Holdings Inc. announced a non-brokered private placement of 6,666,667 common shares at a price of CAD 0.15 per common share for gross proceeds of up to CAD 1,000,000 on September 6, 2022. The transaction will include participation from certain insiders of an aggregate amount of CAD 500,000 led by O'Connor Holdings Limited, an entity controlled by Mr. Dan O'Connor, Chief Operating Officer. The purchase price represents a 15% premium to the closing trading price of the Common Shares on the TSX Venture Exchange on September 2, 2022.

No warrants are being issued pursuant to the private placement, and the private placement may be completed in one or more tranches. The transaction is subject to customary closing conditions, including the approval of the TSXV.