Forward Water Technologies Corp (FWTC) 銘柄情報

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