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Forward Water Technologies Corp ( (TSE:FWTC) ) has provided an update.
Forward Water Technologies Corp. announced a non-brokered private placement of convertible debentures to raise up to $750,000. The debentures, maturing in 36 months and bearing 14% annual interest, can be converted into common shares. Insiders are expected to participate in at least 25% of the offering, which is deemed a ‘related party transaction’ under Canadian regulations. The placement is subject to regulatory approvals and will be conducted under certain prospectus exemptions, with securities issued subject to a four-month hold period.
More about Forward Water Technologies Corp
Forward Water Technologies Corp. is a Canadian company focused on conserving the earth’s water supply through its patented Forward Osmosis technology. Founded by GreenCentre Canada, the company targets large-scale implementation of its technology across various sectors, including industrial wastewater, oil and gas, mining, agriculture, and municipal water supply. Additionally, it is exploring early-stage R&D for food and beverage process stream treatment.
Average Trading Volume: 28,039
Technical Sentiment Signal: Sell
Current Market Cap: C$3.88M
Learn more about FWTC stock on TipRanks’ Stock Analysis page.