CALGARY, Oct. 17, 2019 /CNW/ - Pond Technologies Holdings Inc. ("Pond") (TSX.V: POND) is pleased to announce that Pond Naturals, its wholly owned subsidiary, is expanding the distribution of its astaxanthin-based pet supplement to the US. Pond Naturals has entered a three-year license agreement with Applied BioSciences ("Applied Bio") https://appliedbiocorp.com/ to sell its X10-branded pet products through Applied Bio's online sales channels.
Nevada based Applied Bio develops and markets CBD-based therapeutics and biopharmaceuticals through established channels in the US, including its premium pet brand, Herbal Pet. Applied Bio intends to sell X10 products alongside Herbal Pet products through its existing e-commerce channels.
Herbal Pet has developed a line of pet supplements that uses hemp-derived CBD to address conditions such as pain, inflammation, anxiety, or digestion (www.HerbalPet.com). X10 is a great complementary product to Herbal Pet as it contains nature's most powerful antioxidant: astaxanthin ('asta-zan-thin'), extracted from algae at Pond Natural's Agassiz, British Columbia facility (www.X10Pet.com).
Like Herbal Pet, X10 targets the premium pet segment, using only natural and vegan ingredients.
London, UK based research firm, Technavio, estimates that the global pet dietary supplements market will grow by US$624 Million through 2023, or at a 5% CAGR. It identifies the launch of high quality pet dietary supplements as a key driver of this growth.
Chris Bridges, Applied Bio President, stated,
"We are excited to introduce X10 to our loyal customer base as a great complementary product to Herbal Pet's CBD line. While CBD can act quickly in the body, astaxanthin provides long-term relief from chronic conditions, making for an intriguing one-two punch of natural health products. Adding X10 to our product portfolio allows us to specifically target senior pets whose owners may witness a noticeable improvement in mobility, energy, and attitude in their furry family members."
Grant Smith, Pond Naturals President, commented,
"Since its launch in April 2019, X10 has seen great traction in Canada as one of the only pet health products in the anti-aging category. Applied Bio shares our values and will make for a great partner as we enter the US market through the existing Herbal Pet e-commerce channels."
Studies support astaxanthin supplements (also marketed as "red algae" in the skincare industry) as beneficial for humans and animals alike. The X10 product is designed to benefit ten aspects of a pet's health by reducing free radical damage which may promote recovery and slow down the natural effects of aging on the body. Visit www.X10Pet.com for more information on the pet product and www.Regenurex.com for scientific studies and orders of the pet and human supplements in Canada.
About Pond Technologies
Located in Markham, Ontario, Pond is a technology company that provides profitable solutions to the global health and wellness challenges of climate change and nutrition. Pond's proprietary growth platform, including patented advanced photonics, optimizes key growth inputs in order to provide a controlled environment that maximizes the growth of algae and other organisms.
About Applied BioSciences Corp.
Applied BioSciences is a vertically integrated company focused on the development of science-driven cannabinoid therapeutics / biopharmaceuticals and delivering high-quality CBD products as well as state-of-the-art testing and analytics capabilities to our customers. For more information, visit the Company's website.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws, including statements identified by words such as "focused", "plan", "aimed", "opportunity", "designed", "expected", or similar expressions and includes suggestions of future outcomes, including statements about: plans to pursue vertical integration for high-value algae products; the ability to capture margins through vertical integration; the ability to commercially leverage its facility; the introduction of technology to increase astaxanthin production; the benefit designs of X10 and the ability to capture higher margins from branded consumer products. Although Pond believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will provide to be correct. Readers are cautioned not to place undue reliance on forward-looking statements as actual results may differ materially from those expressed or implied. The factors or assumptions on which the forward-looking statements are based include: the ability to commercialize product at current facilities; the ability to secure appropriate funding or financing; stable or increasing demand for premium consumer products; and the ability to access and implement the technology necessary to achieve expected future results. See www.Regenurex.com and www.X10Pet.com for a summary of condition-specific scientific studies relating to astaxanthin extracted from microalgae.
Additional information about risks, assumptions, uncertainties and other factors that could influence Pond's business is provided in Pond's most recent Management's Discussion & Analysis, available on SEDAR at sedar.com and on Pond's website.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein.
SOURCE Pond Technologies Holdings Inc.