Cleantech Stock Surges on Financing LOI

Pond Technologies Holdings Inc. (TSXV:POND), a cleantech stock, jumped after announcing a US$100 million private equity financing letter of intent

Sean Mason | June 25, 2018 | SmallCapPower

A big financing letter of intent (LOI) was a breath of fresh air for investors in a cleantech stock Monday. Here’s some small stocks making big moves on Monday, June 25, 2018 (as of 4 pm EST):

Pond Technologies Holdings Inc. (TSXV:POND), a cleantech stock, powered 29% higher to $1.35 on Monday after announcing that private equity firm Inventiv Capital Management has entered into a letter of intent with Pond to provide US$100 Million in project funding. Pond Technologies has developed a platform that uses algae to absorb carbon emissions from emitters, making an algae product that can be used for animal feed, aquaculture feed, soil amendment, human nutraceuticals, and even fuel.

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As well, shares of Clean TeQ Holdings Limited (TSX:CLQ) fell 12% to $0.90 as the provider of metals recovery and industrial water treatment revealed results of the Definitive Feasibility Study for the Clean TeQ Sunrise Project in Australia. Highlights included a Net Present Value (NPV) of US$1.392 billion and post-tax Internal Rate of Return (IRR) of 19.1%.

Leonovus Inc. (TSXV:LTV), meanwhile, reported what it calls a major trial of Leonovus software for a large department in the Government of Canada, which the Company expects will dramatically reduce their storage costs while ensuring the protection of public data. Leonovus stock popped 13% to $0.18 following the announcement.

Finally, Ultra Lithium Inc. (TSXV:ULI) shares gained 28% to $0.255 after the lithium junior announced that it has begun ground geophysical surveys at its Laguna Verde brine lithium property in Argentina.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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