Pond Technologies Announces Grant of Stock Options

Rhea-AI Summary

Pond Technologies Holdings Inc. announced the grant of 1,495,000 stock options to eligible executives, employees, and consultants on March 31, 2021. Each option is exercisable for one common share at an exercise price of $0.62, matching the closing price on March 30, 2021. The options will vest in three phases over three years: one-third immediately, another third after one year, and the final third after two years. Pond Technologies, based in Ontario, focuses on sustainable solutions utilizing micro-algae technology for various industries including pharmaceuticals, cosmetics, and bioplastics.

Positive

• Granting of 1,495,000 stock options could incentivize executives and employees, potentially aligning their interests with shareholders.
• Pond's technology in micro-algae could lead to multiple revenue streams through licensing and royalties.
• The company's focus on sustainability and innovation positions it well in growing markets such as pharmaceuticals and bioplastics.

Negative

• The stock options may dilute existing shareholder value if exercised, depending on the number of options exercised.

MARKHAM, ON / ACCESSWIRE / April 1, 2021 / Pond Technologies Holdings Inc. ("Pond") (TSX.V:POND); (OTCQB:PNDHF); (FSE:400), an ESG company addressing global sustainability challenges of wellness and climate change announces that on March 31, 2021 it granted an aggregate of 1,495,000, stock options (the "Options") to eligible executives, employees and consultants under the Corporation's existing stock option plan. Each Option is exercisable for one common share of the Corporation at an exercise price of $0.62 per share. The closing price of the common shares of the Corporation on the TSX Venture Exchange on March 30, 2021 was $0.62. The Options have a term of 3 years and vest as to one-third on the date of grant, one-third on the first anniversary of the date of grant, and the balance on the second anniversary of the date of grant.

About Pond Technologies Holdings Inc.:

Located in Markham, Ontario, Pond Technology is a technology leader in controlled environment cultivation of micro-algae. In over ten years of R&D, Pond has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED-lights and patented CO2-Management. The use of concentrated CO2 from industrial waste streams enables Pond to boost productivity of micro-algae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO2. Pond is currently selling micro-algae derived antioxidant Astaxanthin under its Regenurex brand. As micro-algae are becoming increasingly important in pharmaceuticals and cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics and biofuels, Pond has begun to license its technology to third parties for ongoing license fees and royalties. Pond recently added a Biotech division focused on the growth of unique strains of micro-algae to be used as a reproductive medium for the expression of human anti-bodies and proteins.

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

Neither 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 news release.

For further information contact: Grant Smith, Chief Executive Officer, at g.smith@pondtech.com, 416-287-3835 ext. 201; or Chris Cory at c.cory@pondtech.com , 416-287-3835 ext. 215.

SOURCE: Pond Technologies Holdings Inc.

View source version on accesswire.com:
https://www.accesswire.com/638602/Pond-Technologies-Announces-Grant-of-Stock-Options

FAQ

What are the details of the stock options granted by Pond Technologies on March 31, 2021?

Pond Technologies granted 1,495,000 stock options to eligible personnel, each exercisable at $0.62 per share, with a vesting schedule over three years.

What is the significance of the stock option grant for Pond Technologies shareholders?

The stock option grant may align the interests of executives with shareholders but could also lead to dilution of shareholder value.

How does Pond Technologies plan to use its micro-algae technology?

Pond Technologies aims to generate revenue through licensing its micro-algae technology for various applications in pharmaceuticals, cosmetics, and biofuels.

What is the current stock price of Pond Technologies as of March 30, 2021?

The closing price of Pond Technologies shares on March 30, 2021, was $0.62.

How does the stock option vesting schedule work for Pond Technologies?

The stock options vest as one-third immediately, one-third after one year, and the final third after two years from the grant date.