Forward Water Technologies Announces Fiscal Year Q3, 2024 Financial Results

TORONTO, ON, February 29, 2024 - Forward Water Technologies Corp. (TSXV:FWTC) has released its financial statements and management's discussion for the third quarter of the 2024 fiscal year, ending December 31, 2023. These documents are available on the company's SEDAR+ profile, with all figures reported in Canadian dollars.

The company has highlighted several key operational achievements and developments. On October 5, 2023, it issued 452,000 common shares in settlement of services with AGORA Internet Relations Corp. A significant non-brokered private placement was completed on October 23, 2023, raising $462,000 through the issue of 9,240,000 units. Additionally, in November 2023, the company completed a mobile demonstration unit for its patented Forward Osmosis (FO) technology, enhancing its service offerings in industrial settings. Furthermore, on January 11, 2024, Forward Water Technologies was contracted by CleanTech Lithium PLC to provide advisory services for lithium extraction processes in Chile.

Regarding financial initiatives, the management expressed satisfaction with the investor response to its private placement and is geared towards securing further financing to support commercial activities, particularly in the lithium resource sector for sustainable energy management.