GUELPH, Ontario, Might 27, 2024 (GLOBE NEWSWIRE) — Present Water Applied sciences Inc. (TSX-V:WATR) (CWTI or the Firm) publicizes that, topic to regulatory approval and formal documentation, the Firm is providing a non-brokered, personal placement financing (Non-public Placement) for gross proceeds of as much as $500,000. The Non-public Placement can be for as much as 16,666,667 Widespread Shares at a worth of $0.03 per share. This Non-public Placement won’t embody Share Buy Warrant (Warrant).
The proceeds of this Non-public Placement can be used for present tools gross sales actions and present basic working capital functions. Not one of the proceeds of the Non-public Placement can be payable to non-arm’s size events, apart from basic company functions within the bizarre course of enterprise.
The Non-public Placement is on the market to all shareholders of the Firm as at June 3, 2024 (the Document Date) and are nonetheless shareholders and are eligible to take part beneath the Present Shareholder Exemption. Any one who turns into a shareholder of the Firm after the Document Date shouldn’t be permitted to take part within the Non-public Placement utilizing the Present Shareholder Exemption, however different exemptions should still be obtainable to them. Shareholders who turn out to be shareholders after the file date ought to seek the advice of their skilled advisors when finishing their subscription to make sure that they use the proper exemption.
There are circumstances and restrictions when relying upon the Present Shareholder Exemption, specifically, the subscriber should: a) be a shareholder of the Firm on the Document Date (and nonetheless are a shareholder); b) be buying the Widespread Shares as a principal, i.e. for their very own account and never for every other occasion; and, c) could not buy greater than $15,000 worth of securities from the Firm in any twelve month interval. There’s one exception to the $15,000 subscription restrict. Within the occasion {that a} subscriber needs to buy greater than $15,000 worth of securities, then it could accomplish that offered it has first obtained ‘suitability recommendation’ from a registered funding vendor and, on this case, subscribers could also be requested to substantiate the registered funding vendor’s identification and employer.
If the Providing is over-subscribed, it’s doable {that a} shareholder’s subscription is probably not accepted by the Firm though it’s obtained. Moreover, within the occasion of an imbalance of enormous subscriptions in comparison with smaller subscriptions administration of the Firm reserves the suitable in its discretion to scale back giant subscriptions in favour of smaller subscriptions.
CWTI is counting on the minimal worth exception inside Coverage 1.1 of the TSXV Company Guide permitting for the issuance of Listed Shares equal to the Market Value, topic to a minimal worth of $0.01. All securities issued pursuant to the Non-public Placement can be topic to a 4 month and at some point maintain interval, in accordance with relevant securities legal guidelines. The Non-public Placement is predicted to shut Might 31, 2024.
Any present shareholders desirous about collaborating within the Non-public Placement ought to contact the Firm at [email protected]. Potential buyers ought to point out the quantity of their meant funding in addition to the e-mail deal with at which the Firm ought to contact them to supply additional particulars relating to the Non-public Placement and related transaction documentation.
With a purpose to take part within the Non-public Placement, present shareholders should notify the Firm no later than 10:00am Jap time on Might 29, 2024.
About Present Water Applied sciences Inc.
Present Water Applied sciences is a Expertise Firm making use of its patented and proprietary Electrochemical Applied sciences to the remedy of waste water, desalination water and consuming water contaminated by metals or vitamins, i.e., nitrate/ammonia related to the mining, steel processing, chemical, agricultural, municipal and waste administration sectors. Pumptronics Integrated, a division of the Firm, is an built-in pump station producer specializing in customized design and automation.
The widespread shares commerce on Tier ll of the TSX Enterprise Change beneath the image WATR.
The TSX Enterprise Change has not reviewed and doesn’t settle for duty for the adequacy or accuracy of this launch.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene S. Shelp, Ph.D., P.Geo.President and CEO
Tel: (519) 836-6155Fax: (519) 836-5683E-mail: [email protected] Web site: www.currentwatertechnologies.com
Ahead Wanting Statements
This information launch comprises forward-looking statements throughout the which means of the protected harbour provisions of the Non-public Securities Litigation Reform Act of 1995. These forward-looking statements are topic to dangers and uncertainties and different components that will trigger Present Water Applied sciences Inc. outcomes to vary materially from expectations. These embody dangers regarding market fluctuations, property efficiency and different dangers. These forward-looking statements converse solely as of the date hereof. Sure statements contained on this press launch and in sure paperwork included by reference into this press launch represent forward-looking statements. Using any of the phrases “anticipate”, “proceed”, “estimate”, “count on”, “could”, “will”, “venture”, “ought to”, “consider” and “assured” and related expressions are meant to establish forward-looking statements. These statements contain recognized and unknown dangers, uncertainties and different components that will trigger precise outcomes or occasions to vary materially from these anticipated in such forward-looking statements. Present Water believes that the expectations mirrored in these forward-looking statements are cheap however no assurance could be on condition that these expectations will show to be appropriate and such forward-looking statements included in, or included by reference into, this press launch shouldn’t be unduly relied upon. These statements converse solely as of the date of this press launch. Present Water undertakes no obligation to publicly replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.
Supply: Present Water Applied sciences Inc.