Pond Technologies looks to acquire Regenurex Health Corporation
By Pond Technologies
By Pond Technologies
Aug. 27, 2018 - Markham, Ont.-based Pond Technologies has entered into a non-binding letter of intent to acquire all of the issued and outstanding shares of Regenurex Health Corporation, a B.C.-based owner and operator of an algae production facility, engaged in the cultivation and extraction of astaxanthin.
Astaxanthin is one of nature’s most powerful anti-oxidants. It is used in aquaculture and for human consumption. Oxidative stress in the body has been linked to the development of several major health problems. Astaxanthin helps to reduce or repair the damage caused by oxidation by surrounding the body’s cells with a protective layer. It has been found to have a positive effect on muscle, joint, eye, brain, heart and skin health.
Regenurex operates a 10,000 square foot algae production facility, in Agassiz, B.C. The company uses a proprietary natural extraction process that produces the most natural astaxanthin on the market, which preserves the benefits of the whole algae.
“The decision for us was straightforward”, said Curtis Braun, Regenurex CEO. “We are completely aligned with Pond management’s view of astaxanthin’s future as both a stand-alone product and as a blend with other health and wellness ingredients. We believe that the investment along with Pond’s proprietary growth platform will allow us to better realize the future value for our shareholders and will have a transformative effect on the global astaxanthin market and we are excited to be a part of it.”
Steve Martin, Pond CEO, commented, “We are very happy that Regenurex has chosen to join us. The synergies between our approaches made this transaction very attractive. We expect that our growth platform will significantly increase the output of their BC facility, and when coupled with their proprietary natural extraction technology, will serve to give us a sustainable competitive advantage, in both the upstream production and downstream processing of this very valuable product worldwide.”