Forward Water Technologies Announces Completion of Technology License with FUJIFILM Corporation

Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that its wholly-owned subsidiary, Forward Water Technologies Inc., has licensed specific intellectual property from FUJIFILM Corporation in order to solidify protection of its water treatment technology platform, and which will secure further clean water alternatives to legacy solutions to combat the ongoing global water crisis

Forward Osmosis (FO), is a water separation process which uses a semipermeable membrane and the natural energy of osmotic pressure to separate water from dissolved solutes. This solution technology process is, in most manners, used for product concentration, wastewater concentration and the extraction of clean water for reuse.

FUJIFILM Corporation has extensive expertise in an array of water treatment technologies including the use of forward osmosis. As result of this industrial research, FUJIFILM Corporation created intellectual property that Forward Water is in a unique position to leverage. Ensuring that all commercial avenues into the market are unequivocally protected is essential to positioning Forward Water as a leader in advanced FO membrane-based water treatment. "Securing this license from FUJIFILM Corporation solidifies the unique right to practice the technology and further enhances and strengthens Forward Water's intellectual property protection in the marketplace on a global scale.", says C. Howie Honeyman, CEO & President of Forward Water.

About Forward Water Technologies Corp.

Forward Water Technologies Corp. is a publicly-traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by Green Centre Canada a leading technology innovation centre, supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.

About FUJIFILM Corporation

FUJIFILM Corporation is an operating company of FUJIFILM Holdings Corporation. FUJIFILM Holdings Corporation, Tokyo, leverages its depth of knowledge and proprietary core technologies to deliver "Value from Innovation" in our products and services in the business segments of healthcare, materials, business innovation, and imaging. Our relentless pursuit of innovation is focused on providing social value and enhancing the lives of people worldwide. Fujifilm is committed to responsible environmental stewardship and good corporate citizenship. For more information about Fujifilm's Sustainable Value Plan 2030, please visit: https://holdings.fujifilm.com/en/sustainability/plan/svp2030. For the year ended March 31, 2022, the company had global revenues of approximately 2.5 trillion yen (21 billion USD at an exchange rate of 122 yen/dollar). For more information, please visit: www.fujifilmholdings.com.

Mr. C. Howie Honeyman, Ph.D., President & Chief Executive Officer
Forward Water Technologies Corp.
howie.honeyman@forwardwater.com
Phone: (519) 333-5888

For further information please contact:
Kayla.ferderber@forwardwater.com

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Such statements include the anticipated benefits from intellectual property license described herein. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as outlined in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE: Forward Water Technologies Corp.