FendX Technologies Inc. press release
Pond Technologies Holdings Inc. Announces Filing of 2019 Year-End Statement of Reserves Data
CSE - Canadian National Stock Exchange · Canada
Canada NewsWire
MARKHAM, ON, March 26, 2020
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
MARKHAM, ON, March 26, 2020/CNW/ - Pond Technologies Holdings Inc. (the "Corporation" or "Pond") (TSX.V: POND) announces that the Corporation's statement of reserves data and other oil and gas information for the year ended December 31, 2019, have been filed and are available for review on the SEDAR website at www.sedar.comor on the Corporation's website at www.pondtech.com.
Sproule, an independent qualified reserves evaluator, completed its evaluation of the Corporation's reserves in accordance with the standards set out in the Canadian Oil and Gas Evaluation Handbook and reported the estimated net present value before income taxes of Pond's proved plus probable reserves at $2,863,000using a 10% discount rate effective December 31, 2019. Such estimated value does not represent fair market value. This supports the Corporation's carrying value. During the nine months ended September 31, 2019the Corporation's revenue from its oil and natural gas property was $1,269,000.
About Pond Technologies:
Located in Markham Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of pollution abatement and nutrition. Pond's proprietary growth platform optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms. It enables industrial emitters to generate new revenue streams from the transformation of waste CO2 to valuable algae-based products used as proteins for animal feed and nutraceutical products like Chlorella, Spirulina, and Astaxanthin for human consumption.
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.
SOURCE Pond Technologies Holdings Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2020/26/c4739.html
Chris Cory at c.cory@pondtech.com, Steve Martin at s.martin@pondtech.com or phone 416-287-3835.Copyright CNW Group 2020
Earlier from FendX Technologies Inc.
- Pond Technologies Holdings Inc. enters into non-exclusive Technology Licence Agreement with UK-based Remediiate, providing Pond with minimum payment of CDN$500,000 per annum through December 31, 2021 and thereafter CDN$2,000,000 per annum until December 31, 2024.
- Pond Technologies Holdings Inc. Announces TSXV Approval of Previously Announced Shares for Debt Settlement and Directors Deferred Share Unit Plan
- Pond Technologies announces appointment of Cameron A. Mingay, B.A., LLB as Chairman