Forward Water Technologies Announces $750,000 Private Placement

Forward Water Technologies Corp. (FWTC) has announced a non-brokered private placement of convertible debentures, aiming to raise up to $750,000. These debentures will mature in 36 months from issuance and carry an annual interest rate of 14%. Investors have the option to convert the debenture into FWTC common shares at a price of $0.07 per share during the first year, moving to $0.10 thereafter.

Insiders are set to participate, potentially taking up at least 25% of the offering. This involvement is classified as a "related party transaction" under Canadian securities law but falls under certain exemptions due to the anticipated market impact being within regulatory limits.

The closing of the private placement requires all necessary corporate and regulatory approvals, including from the TSX Venture Exchange. The issued securities will have a statutory hold period of four months plus a day, per Canadian law.