Forward Water Technologies Corp (FWTC)

Forward Water Technologies Corp. Announces Successful Completion of a Preliminary Technology Evaluation ContractJune 2, 2026 8:27 AM
PR Newswire (Canada) TORONTO, June 2, 2026 /CNW/ - Forward Water Technologies Corp. ("FWTC" or the "Company") (TSXV: FWTC) is pleased to announce that the Company has successfully completed a client sponsored wastewater treatment demonstration project. FWTC designed and implemented a treatment process that incorporated its proprietary iFO forward osmosis process and achieved over 97% recovery of water meeting or exceeding reuse quality metrics and at exceptionally low power consumption rates compared to that use of conventional thermal evaporation. The client, a Fortune 500 company, has a specific desire to make a contentious improvement in water usage across its global operations. Collaborating with FWTC has demonstrated that FWTC's iFO forward osmosis treatment can process wastewater and achieve exceptionally high recovery rates. Moreover, the recovered water also meets the high standard re-use quality metrics. Upon completing the project FWTC met or exceeded all identified KPI's laid out for the project. In concept, the project illustrated that at commercial scale water reuse could be vastly improved over current technology approaches.C. Howie Honeyman, CEO of FWTC remarked, "when our iFO technology is intelligently deployed in a commercial setting, the net result leads to the recovery and re-use of water that would otherwise be sent for disposal or delivered to a municipal sewer system. Allowing such high levels of reuse while maintaining high quality metrics allows FWTC to realize water resources as infrastructure instead of a consumable material that gets destroyed in operations."About Forward Water Technologies Corp.Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.For more information, please visit www.forwardwater.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Caution Concerning Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. FWTC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC, including those described in FWTC's disclosure documents available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.The forward-looking statements contained in this press release are made as of the date of this press release, and FWTC does not undertake to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.SOURCE Forward Water Technologies Corp. Original: Forward Water Technologies Corp. Announces Successful Completion of a Preliminary Technology Evaluation Contract

Forward Water Technologies Corp. Announces Shares for Debt SettlementMay 29, 2026 8:21 PM
PR Newswire (Canada) TORONTO, May 29, 2026 /CNW/ - Forward Water Technologies Corp. ("FWTC" or the "Company") (TSXV: FWTC) announces that the Company has arranged a shares for debt transaction to settle an aggregate of $9,000.00 of interest (the "Indebtedness"). Pursuant to the shares for debt settlement FWTC proposes to issue 200,000 common shares in the capital of FWTC (the "Settlement Shares") at a deemed price of $0.045 per share to Green Centre Canada.It is proposed that the Settlement Shares will be issued subject to prospectus exemptions available pursuant to Canadian securities law and will be subject to a hold period which will expire on the date that is four months and one day following the date of issuance. The issuance of the Settlement Shares remains subject to the approval of the TSX Venture Exchange.About Forward Water Technologies Corp.Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early stage R&D for the treatment of food and beverage process streams.
For more information, please visit www.forwardwater.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Caution Concerning Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. FWTC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC, including those described in FWTC's disclosure documents available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.The forward-looking statements contained in this press release are made as of the date of this press release, and FWTC does not undertake to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.SOURCE Forward Water Technologies Corp. Original: Forward Water Technologies Corp. Announces Shares for Debt Settlement

Forward Water Technologies Corp. Announces New Intellectual Property AllowanceMay 20, 2026 6:00 PM
PR Newswire (Canada) TORONTO, May 20, 2026 /CNW/ - Forward Water Technologies Corp. ("FWTC" or the "Company") (TSXV: FWTC) is pleased to announce that the Company has been informed by the United States Patent and Trademark Office (USPTO) that its patent application for a new forward osmosis technology useful in the food and beverage sector has been allowed and issuance of the patent is anticipated in the next 3-4 weeks. Forward osmosis has long been known to enable the cold concentration of food and beverage products, which can include dairy, juices, caffeinated products and alcoholic beverages such as beer and wine. The resultant concentrates are known to be superior to those made using thermal evaporation and maintain the high quality of the original liquids. The challenge has been finding pathways to ensure this is an economically viable process. Forward Water in conjunction with Queen's University in Kingston Ontario Canada, has developed a new proprietary pathway to enable a cost-effective forward osmosis method to create these enhanced concentrates that could exceed the level of concentration previously achieved by others.C. Howie Honeyman, CEO of FWTC says, "moving into the food and beverage sector with key new intellectual property enables FWTC to quickly and uniquely address the demand for new ways to differentiate product lines, reduce costs of transportation, and enable new products in a sector demanding new innovation."About Forward Water Technologies Corp.Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.For more information, please visit www.forwardwater.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Caution Concerning Forward Looking Information This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. FWTC cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC, including those described in FWTC's disclosure documents available on SEDAR+ at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.The forward-looking statements contained in this press release are made as of the date of this press release, and FWTC does not undertake to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.SOURCE Forward Water Technologies Corp. Original: Forward Water Technologies Corp. Announces New Intellectual Property Allowance

Forward Water Technologies Announces Financial Results for the Three-Months and Nine-Months Ended December 31, 2025March 2, 2026 9:00 AM
PR Newswire (Canada)

TSX-V: FWTC98TORONTO, March 2, 2026 /CNW/ - Forward Water Technologies Corp. (TSXV: FWTC) (the "Company") is pleased to announce that it has filed its condensed consolidated audited financial statements and related management's discussion and analysis for the three-month and nine-month periods ended December 31, 2025. Copies of these financial statements and related management discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated.







Financial HighlightsFor the three-month and nine-month periods ended December 31, 2025, the summary of the financial results are as follows:
Three Months EndedNine Months  EndedRevenue$54,356$59,048Net Loss/Comprehensive Loss$(431,376)$(1,361,261)Loss Per Share$(0.009)$(0.027)Total Assetsn/a$3,744,565Cash at End of Periodn/a$656,342Operating Highlights and Recent Corporate DevelopmentsOn October 29, 2025, FWTC issued 1,025 convertible debenture units in an aggregate principal amount of $1,025,000.  Each unit consists of $1,000 principal amount of convertible debentures and 5,000 common share purchase warrants.  Each warrant entitles the holder to purchase a common share of the Company until October 29, 2028.  The exercise price of the warrants is $0.07 per common share if exercised on or before October 29, 2026 and $0.10 thereafter until expiry.  The convertible debentures mature on October 29, 2028 and bear interest at 14% per annum, payable annually on the last business day of each year.  The holders have the option to convert the principal owing into common shares of the Company at a conversion price of $0.07 per share on or before October 29, 2026 and $0.10 per share thereafter until maturity or repayment.On November 18, 2025, FWTC signed a contract for a technology evaluation project with a globally positioned food and beverage product manufacturer. The project will assess the effectiveness of FWTC's treatment technology for concentrating liquid food and beverage streams to create superior quality concentrates.Management CommentaryIn the last quarter, FWTC has attracted additional interest from major companies by leveraging previous successes. CEO C. Howie Honeyman said, "In the last quarter we were pleased with the response to our convertible debenture offering, underscoring the confidence the market has in FWTC. Moreover, with the execution of the development projects we have been contracted to complete, we anticipate significant validation of our technology in the wastewater and food & beverage sectors to be reported."Summary of Financial ResultsIncome Statement

For the three months ended
December 31,For the nine months ended
December 31,

2025202420252024





Revenue
$             54,356$             56,881$             59,048$             56,881





Expenses:




General and administrative
229,002579,893745,824771,509Selling and marketing
10,32321,16610,33521,166Research and development 
211,150130,842609,494130,842Listing expenses
---22,775Foreign exchange loss (income)
(15,196)30,287(19,888)30,287

435,279762,1881,345,765976,579





Net loss before the undernoted
(380,923)(705,307)(1,286,717)(919,698)





Other expense (income):




Amortization of deferred capital contributions
(1,056)(1,056)(3,168)(1,056)Finance income
(203)(295)(220)(31,189)Finance costs
51,71218,50177,9329,108

50,45317,15074,544(23,137)





Net loss and comprehensive loss
$        (431,376)$         (722,457)$       (1,361,261)$         (896,561)





Loss and comprehensive loss per share




Basic and diluted
(0.009)(0.015)(0.027)(0.018)





Weighted average number of shares outstanding




Basic and diluted
49,924,93949,174,59249,833,83649,174,592 Balance Sheet
December 31,March 31,
20252025Assets




Total current assets703,630771,415Property and equipment1,350,7701,577,896Intangible assets985,7151,114,286Goodwill280,968280,968
$      3,321,083$              3,744,565


Liabilities and Shareholders' Equity




Current liabilities:

Accounts payables and accrued liabilities$         272,284$                 274,907Deferred revenue79,631-Current portion of bank loan payable7,4896,672Deferred capital contributions5,1888,356Debenture payable50,00050,000Current portion of license liability114,967110,442
529,559450,377


Bank loan payable23,07231,901Loan payable250,726242,109Convertible debentures789,891-License liability130,492266,046
1,723,740990,433


Shareholders' Equity:

Share capital3,725,8123,712,635Warrants678,168629,426Equity portion of convertible debentures95,635-Contributed surplus328,127281,209Accumulated deficit(3,230,399)(1,869,138)
1,597,3432,754,132



$      3,321,083$              3,744,565


Statement of Cash Flows












For the nine months ended December 31,


20252024




Cash provided by (used in):








Operating activities:



 Net loss 

$         (1,361,261)$                   (896,561) Items not involving cash 

403,53839,851 Changes in non-cash operating working capital 

7,495(813,030) Net cash used in operating activities 

(950,228)(1,669,740)




 Financing activities: 



 Proceeds from convertible debentures 

969,500- Repayment of bank loan payable 

(7,605)(11,925) Proceeds from issuance of subscription receipts 

-1,700,000 Issuance costs 

-(172,605) Interest paid 

(2,446)- Net cash provided by financing activities 

959,4491,515,470




 Investing activities: 



 Purchase of property and equipment 

(26,127)(193,236) Cash obtained from reverse takeover transaction 

-3,299 Net cash (used in) provided by investing activities 

(26,127)(189,937)




 Change in cash 

(16,907)(344,207)




 Cash, beginning of period 

673,2491,505,223




 Cash, end of period 

$             656,342$                 1,161,016




About Forward Water Technologies Corp.Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.For more information, please visit www.forwardwater.com.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking StatementsCertain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from pandemics or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking informationSOURCE Forward Water Technologies Corp.

Original: Forward Water Technologies Announces Financial Results for the Three-Months and Nine-Months Ended December 31, 2025

Forward Water Technologies Corp.
Wed, Jun 19, 2024, 1:00 PM EDT

TORONTO, ON / ACCESSWIRE / June 19, 2024 / Forward Water Technologies Corp. ("FWTC") (TSXV:FWTC) and Fraser Mackenzie Accelerator Corp. (the "MAC") (TSXV:FMAC.P) are pleased to announce that, further to their joint news release of May 14, 2024 announcing the proposed transaction between FWTC and FMAC (the "Transaction"), they continue to work to advance the Transaction.

Loan Advance

FMAC has advanced to FWTC an additional $25,000 by way of a secured loan (the "FMAC Loan"). The FMAC Loan shares a pari passu security ranking with FMAC's previous loan of to FWTC of $25,000 and with loans previously advanced by existing FWTC shareholders FirstLine Venture Partners Corporation and Sustainable Chemistry Alliance. The FMAC Loan will mature on December 31, 2024 and will bear interest at a rate of 20% per annum commencing on the date that is 120 days following the entering into of the definitive agreement to be entered into in connection with the Transaction, with no interest being charged prior to such date. FMAC has obtained TSXV approval to loan up to $225,000 to FWTC (inclusive of the $25,000 FMAC Loan).

FWTC and FMAC continue to work towards execution of the definitive agreement. The Transaction is intended to be FMAC's qualifying transaction for purposes of TSX Venture Exchange ("TSXV") policies. FWTC, after completion of the Transaction, is referred to as the "Resulting Issuer".

Concurrent Financing

In conjunction with the Transaction, FMAC proposes to raise a minimum of $1,400,000 in gross proceeds from the sale of FMAC subscription receipts (each, a "Subscription Receipt") at a price of $0.15 per Subscription Receipt (the "Concurrent Financing Price"). Each Subscription Receipt will entitle the holder to receive one FMAC common share (an "FMAC Share") and one-half of a FMAC common share purchase warrant, each whole such warrant (an "FMAC Warrant") will entitle the holder to purchase one FMAC Share at an exercise price of $0.20 at any time prior to the third anniversary of the issuance of such warrant.

The Transaction is proposed to occur following a 10 for 1 consolidation of the FWTC common shares: (a) the FMAC Shares (including, for greater certainty, the FMAC Shares issued upon exercise of the Subscription Receipts) will be exchanged on an approximately one for one basis for common shares in the capital of FWTC ("Resulting Issuer Shares") and the FMAC Warrants will be exchanged on an approximately one for one basis for common share purchase warrants of FWTC ("Resulting Issuer Warrants ; and (b) the Resulting Issuer Shares will be listed on the TSXV. Assuming that $1,400,000 is raised in the Concurrent Financing, this will result in 97,127,920 pre-consolidation Resulting Issuer Shares (or 9,712,792 post-consolidation Resulting Issuer Shares) being issued to the investors in the concurrent financing on closing of the Transaction. The Concurrent Financing Price is equivalent to $0.0144 per FWTC Share on a pre-exchange, pre-consolidation basis, or $0.144 per FWTC Share on a pre-exchange, post-consolidation basis.

https://finance.yahoo.com/news/little-known-small-cap-company-092100512.html

Forward Water Technologies Announces Commercial Update

Forward Water Technologies Corp.
Fri, May 31, 2024

TORONTO, ON / ACCESSWIRE / May 31, 2024 / Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces today a commercial update based on enquiries received since its press release of March 20, 2024. With respect to the opportunities currently being pursued by Forward Water to develop direct lithium extraction projects, the Company estimates that should commercial scale plants be built incorporating FWTC's process technology, each plant could represent approximately US$25 million of revenue to FWTC. This estimate is based on information and specifications provided by an array of parties that have engaged with FWTC to date. Revenue from each plant would be recognized over approximately 36 months but exact amounts and timelines will vary.

FWTC also continues to purse multiple industrial wastewater opportunities with its marketing partners. The applications of FWTC's technology process vary by customer and application but preliminary engineering work to date suggests that each opportunity could represent US$2-6 million of revenue to FWTC should they proceed.

It should be noted that this information is not to be construed as a forecast and none of these projects may advance to commercial contracts.

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Industrial Forward Osmosis (iFO™) technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology enables the extraction of clean water from challenging process and waste streams that conventional technologies can not be operated on. Due to its high-water extraction ability, iFO™ is used in DLE processes for the hyper-concentrating of lithium prior to conversion. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.

For more information, please visit www.forwardwater.com.

Contact Information
For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
519-333-5888

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

https://finance.yahoo.com/news/forward-water-technologies-announces-commercial-122500900.html

Forward Water Technologies Completes Non-Brokered Private Placement of Secured Debentures

Forward Water Technologies Corp.
Fri, May 24, 2024

TORONTO, ON / ACCESSWIRE / May 24, 2024 / Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) today announced that it has closed the issuance of the $225,000 of debentures referenced in the Company's press release dated May 14, 2024. The Company issued $100,000 of secured convertible debentures that bear interest at 20% per annum and bear interest at a rate of 20% per annum with such interest to commence 120 days following the execution of the definitive agreement to be entered into in connection with the proposed business combination with Fraser Mackenzie Accelerator Corp. ("FMAC") (see the Company's press release dated May 14, 2024) (the "Business Combination") and maturing on the earlier of December 31, 2024 and the closing of the Business Combination. These convertible debentures will convert into units of Forward Water ("Units") concurrently with the completion of the Transaction at a conversion price of $0. 145 per Unit (following the proposed 10 for 1 share consolidation to be completed by the Company in connection with the Business Combination (the "Consolidation")). Each Unit will be comprised of one common share and one-half of one common share purchase warrant of Forward Water with each whole warrant entitling the holder to purchase one common share of the Company at an exercise price of $0.20 (following the Consolidation) at any time prior to the third anniversary of the issuance of such warrant. If the Business Combination is not completed the debentures will not be convertible.

The remaining $125,000 of debentures are not convertible, will mature on December 31, 2024 and will otherwise have the same terms as set forth above. $25,000 principal amount of debentures were acquired by Fraser Mackenzie Accelerator Corp. and the remaining $200,000 principal amount of debentures were acquired by FirstLine Venture Partners Corporation ("FirstLine") and Sustainable Chemistry Alliance ("SCA"). It is intended that the proceeds of the financing will be used for general working capital purposes.

The securities issued or being issuable in connection with the financing will be subject to a hold period of four months and one day that will expire on September 25, 2024.

FirstLine and SCA each hold greater than 20% of the outstanding FMAC Shares and as such are considered related parties for the purposes of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The participation of FirstLine and SCA constitutes a "related party transaction" within the meaning of MI 61-101. FWTC is relying upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(b) and 5.7(1)(a), respectively - Fair Market Value Not More Than 25 Per Cent of Market Capitalization, on the basis that at the time the issuances were agreed to, neither the fair market value of the securities to be distributed to FirstLine or SCA, nor the consideration to be received for the securities, will exceed 25 per cent of FWTC's market capitalization. The Board of Directors of FWTC has unanimously approved the issuances and no materially contrary view or abstention was expressed or made by any director in relation to the issuances. FWTC did not file a material change report in respect of the participation of FirstLine or SCA in the issuances at least 21 days before anticipated closing as FTWC wished to close on an expedited basis for sound business reasons.

In addition to the foregoing, the Company advises that the Company and FMAC have agreed to amend the deadline for signing the definitive agreement for the Business Combination to June 4, 2024.

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Industrial Forward Osmosis (iFO™) technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology enables the extraction of clean water from challenging process and waste streams that conventional technologies can not be operated on. Due to its high-water extraction ability, iFO™ is used in DLE processes for the hyper-concentrating of lithium prior to conversion. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.

For more information, please visit www.forwardwater.com.

Contact Information
For more information or interview requests, please contact:

C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
519-333-5888

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding the use of proceeds of the financing, potential closing of the Business Combination, the expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

SOURCE: Forward Water Technologies Corp.

https://finance.yahoo.com/news/forward-water-technologies-completes-non-213000706.html

From Brine-to-Refine: Overview of Equipment & Processes Used in Direct Lithium Extraction



Weekly Chart

Insider/Institutional Holdings Breakdown From Information Circular:

Institutions
GreenCentre Canada -14,668,560
Sustainable Chemistry Alliance - 26,644,295
FirstLine Venture Partners Corp 26,644,295

Management
Howie Honeyman - 2,596,820
Wayne Maddever - 242, 000
Lea Ray - 110,000

Total Shares Held - 70,905,970 out of 106,103,098 or 67% of the float.

To the best of the knowledge of the directors and senior officers of the Company, no person holds, directly or indirectly, or exercises control or direction, over more than 10% of the issued and outstanding Common Shares of the Company other than: (i) GreenCentre Canada which has ownership and control of 14,668,560 Common Shares that represent approximately 13.8% of the issued and outstanding Common Shares (calculated on a non-diluted basis), (ii) Sustainable Chemistry Alliance which has ownership and control of 26,644,295 Common Shares that represent approximately 25.1% of the issued and outstanding Common Shares (calculated on a non-diluted basis) and (iii) FirstLine Venture Partners Corporation which has ownership and control of 26,644,295 Common Shares that represent approximately 25.1% of the issued and outstanding Common Shares (calculated on a non-diluted basis)

The Company's authorized capital consists of an unlimited number of common shares ("Common Shares") without par value, each share carrying the right to one vote, of which 106,103,098 Common Shares are issued and outstanding as at August 23, 2022 (the "Record Date"). The Company has no other classes of shares.

Forward Water Technologies Corp. Due Diligence Report

Price: $0.06
Market Cap: $6.4 million
Common Shares: 106,103,098
Insider/Institutional Holdings: 70,905,970 or 67% (See recent information circular for more details)
Website: https://www.forwardwater.com/

July 2022 Company Presentation: https://www.forwardwater.com/_files/ugd/d7589c_16c5aa7dcefd4afe8a02a28ebb1cf982.pdf

As of June 30, 2022
Cash: $2.4 million
Total Assets: $3.9 million
Total Liabilities: $853K

Numerous Partnerships - See Sedar news releases for more information

About Forward Water Technologies Corp - Forward Water is a publicly-traded Canadian company dedicated to saving the earth's water supply using its patented Forward Water Osmosis technology. The Company was founded by Green Centre Canada a leading technology innovation centre, supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.

August 29th video:

September 6th article: https://themarketherald.ca/forward-water-technologies-at-the-forefront-of-the-green-movement-2022-09-06/

Recent MD&A Highlights

Major Highlights for the three months ended June 30, 2022

• On April 25, 2022, FWTC signed a development testing contract with Cornish Lithium Ltd (UK) to evaluate the ability of FWTC’s process to concentrate lithium containing feed streams at the engineering evaluation scale in Sarnia ON

• On May 26, 2022, the Company announced that it has been selected by the panel of The Centre for Ganga River Basin Management and Studies (cGanga) to participate in the Environment Technology Verification (ETV) program. The ETV program is used to accelerate the introduction, piloting and adoption of innovative new water and wastewater technologies into the India market

• May 30 – June 3, 2022, Howie Honeyman, CEO and Grant Thornley, VP of Engineering Sales, presented at the IFAT Conference in Munich, the world’s largest platform for water, sewage, waste and raw materials management

• June 11-22, 2022, Howie Honeyman visited the Goldfinch forward water pilot site in Boisar, India to review the process and provide technical assistance

• June 13-15, 2022, Grant Thornley presented at PDAC in Toronto, an international mining and exploration conference

Major Highlights Subsequent to June 30, 2022

• Significant progress has been made on the building of the mobile demonstration unit which is now 65% complete with an anticipated completion date of early fall, 2022. Supply chain issues, particularly in regards to electronics and controls have made it difficult to confirm a completion date at this time

August 29th 2022 News Release: Forward signs early development deal for Li isolation

https://www.stockwatch.com/News/Item/Z-C!FWTC-3298563/C/FWTC

September 6th 2022 News Release: Forward Water begins early development testing project

https://www.stockwatch.com/News/Item/Z-C!FWTC-3302255/C/FWTC