Forward Water Technologies Completes $1,025,000 Convertible Debenture Offering

Forward Water Technologies Corp. recently finalized a non-brokered private placement, issuing $1,025,000 in convertible debenture units. Each unit was priced at $1,000 and included convertible debentures and 5,000 common share purchase warrants. These warrants allow holders to acquire one common share at $0.07 if exercised by October 29, 2026, increasing to $0.10 thereafter.

The convertible debentures mature on October 29, 2028, with an annual interest rate of 14%. Participants can convert the debt into shares at $0.07 per share until October 29, 2026, or at $0.10 thereafter. Insiders contributed $125,000 to this offering.

Proceeds will support the company's operational costs and general capital. Certain exemptions allowed the offering to proceed swiftly and avoid minor regulatory hurdles, emphasizing an efficient closing process.