MARKHAM, ON / ACCESSWIRE / September 13, 2021 / Pond Technologies Holdings Inc. (“Pond” or the “Company“) (TSXV:POND)(OTCQB:PNDHF)(FSE:4O0), an ESG company addressing global sustainability challenges of climate change and nutrition, today announced that it has been made aware of and was requested by the OTC Markets Group Inc. (“OTC Markets“) to comment on recent activity taken by third parties that has been identified by OTC Markets as “promotional activity” in respect of Pond.
Pond first became aware of the promotional activities pursuant to written correspondence from OTC Markets on September 8, 2021. OTC Markets provided examples of an e-mail campaign from the following sources: (i) an e-mail dated September 8, 2021 from Penny Picks and(ii) an e-mail dated September 7, 2021 from Microcap Daily. The materials provided to Pond generally reproduced segments from Pond news releases, the annual information form of Pond, financial information, or the current corporate presentation of Pond previously publicly disclosed on the Company’s website and/or filed on the SEDAR website at www.sedar.com (the Canadian System for Electronic Analysis and Retrieval where Canadian reporting issuers satisfy their continuous disclosure public filing obligations under securities laws), interspersed, in some cases, with statements from such third parties using promotional language and speculation regarding upside potential of Pond’s stock price. Among other things, such statements depicted Pond as a “sleeping giant” and a “low priced sleeper” and spoke to Pond’s market opportunities using hyperbole.
September 8, 2021 was also the same day the Company issued its news release in respect of its joint commercialization arrangement with Livalta, an AB Agri company, regarding the production of algae-based animal feed ingredients, which is a material and positive event for the Company. Accordingly, it is the Company’s view that any increase in the market value or trading volume of the Company’s shares at such time were likely attributable in large measure to such news release rather than the promotional materials.
The Company does not believe the statements made in the promotional materials were materially false and/or misleading, however, it is possible that certain excerpts might be read as misleading and/or incomplete and readers should not place undue reliance on the promotional materials. Specifically, the Company does not condone the use of sensational language to describe the Company’s business prospects or the growth potential of the Company’s industry. Pond does not have any contractual or other relationship with the third party sources of such materials and did not review or consent to its disclosure. Accordingly, the views and expectations contained therein are solely those of the authors and are subject to the Company’s forward-looking statements disclaimers previously disclosed to the public.
In addition, at OTC Markets’ request and after…
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