on Forward Water Technologies Corp. (isin : CA34988A1021)
Forward Water Technologies Corp. Closes Private Placement of Convertible Debentures
TORONTO, ON / ACCESSWIRE / August 21, 2024 / Forward Water Technologies Corp. (TSXV:FWTC) has successfully closed an issuance of $200,000 in unsecured convertible debentures. These debentures bear an interest rate of 10% per annum. They will automatically convert into units at a conversion price of $0.1126, assuming the completion of a proposed 10-for-1 consolidation of FWTC common shares. Each unit will comprise one common share and one purchase warrant, exercisable at $0.1579 until August 19, 2027. All interest payments will be in cash.
A finder associated with this transaction received an 8% fee and 142,096 finder warrants, permitting them to acquire one common share and one half of one warrant at $0.1126 until August 19, 2026. The issued securities are subject to a hold period expiring on August 19, 2026.
R. H.
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