Forward Water Technologies Announces Fiscal Year Q3, 2024 Financial Results

Forward Water Technologies Announces Fiscal Year Q3, 2024 Financial Results

Forward Water Technologies Corp. (TSXV:FWTC) (the "Company") is pleased to announce that it has filed its condensed consolidated audited financial statements and related management's discussion and analysis for the three and nine months ended December 31, 2023. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedarplus.ca. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated

Operating Highlights and Recent Corporate Developments

  • On October 5, 2023, the Company issued a total of 452,000 common shares with a deemed value of $22,600 in settlement of compensation to AGORA Internet Relations Corp., for certain advertising services provided to the Company.
  • On October 23, 2023, the Company completed a non-brokered private placement of 9,240,000 units at a price of $0.05 per unit for gross proceeds of $462,000. Each unit consisted of one common share of the Company and one common share purchase warrant. Each common share purchase warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.075 per share at any time on or before October 20, 2026.
  • In December 2021, the Company began the building of a mobile demonstration unit which can be placed on a customer's site to allow for a longer term (6-8 month) performance of the FO technology at industrial throughput that is not achievable in a laboratory setting. This revenue-generating unit was completed in November, 2023 and is now available to be used by or sell to our customers.
  • On January 11, 2024, the Company announced that it has been contracted by CleanTech Lithium PLC to provide advisory services for the support and development of their Direct Lithium Extraction ("DLE") processes in Chile.
  • On January 16, 2024, the Company issued a total of 452,000 common shares with a deemed value of $22,600 in settlement of compensation to AGORA Internet Relations Corp. for certain advertising services provided to the Company.

Management Commentary

"Over the last quarter we have been pleased with the response from investors to the non-brokered private placement and we continue to pursue further financing initiatives to ensure support of all commercial activities. As important, we continue to provide guidance in the water treatment needs for our clients especially in the lithium resource sector which is vital to sustainable energy management."

Summary of Financial Results

Income Statement

Balance Sheet

Statement of Cash Flows

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 GreenCentre 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. In addition, the Company has initiated early stage R&D for the treatment of food and beverage process streams.

For more information, please visit www.forwardwater.com.

Contact Information

For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
howie.honeyman@forwardwater.com
(519) 333-5888

Neither the 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.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding financing initiatives, expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. 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: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; 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 set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. 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.

SOURCE: Forward Water Technologies Corp.



View the original press release on accesswire.com

News Provided by ACCESSWIRE via QuoteMedia

FWTC:CA
Forward Water Technologies

Forward Water Technologies Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Logo for Forward Water Technologies (TSXV:FWTC)

Forward Water Technologies


Keep reading...Show less
Forward Water Technologies Corp. Collaborates With CleanTech Lithium PLC in Pilot Plant for Lithium Chloride Eluate Production

Forward Water Technologies Corp. Collaborates With CleanTech Lithium PLC in Pilot Plant for Lithium Chloride Eluate Production

Forward Water Technologies Corp. (TSXV:FWTC) (the "Company" or "FWTC") is pleased to announce a collaboration with CleanTech Lithium PLC ("CleanTech Lithium") and Conductive Energy Inc. in the supply of their industrial forward osmosis (iFOTM) system for use in the hyper-concentrating of CleanTech Lithium's eluate and its conversion into battery grade lithium carbonate by use of Conductive Energy's Direct Lithium Extraction ("DLE") conversion process. The large-scale production volume of battery grade lithium carbonate is intended to validate CleanTech Lithium's DLE process design and its commercial scalability. The produced battery grade lithium carbonate is expected to be supplied to battery and automotive manufacturing companies as part of the evaluation process within their long-term offtake agreements. The collaboration between FWTC and CleanTech Lithium signals CleanTech Lithium's progression towards full-scale commercialization as the need for sustainable lithium production supply increases on a global scale due to the transition to electric mobility worldwide

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Forward Water Technologies to Participate at the PDAC Conference in Toronto, ON

Forward Water Technologies to Participate at the PDAC Conference in Toronto, ON

Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) today announced that Grant Thornley, Vice-President of Engineering Solutions will be attending PDAC in Toronto from March 3 to March 6, 2024 and meeting with Direct Lithium Extraction (DLE) and mining clients at this event

Date: March 3-6, 2024
Location: Metro Toronto Convention Centre
Link: https://www.pdac.ca/convention

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Forward Water Technologies Chosen to Advise CleanTech Lithium on Development of Lithium Extraction Process

Forward Water Technologies Chosen to Advise CleanTech Lithium on Development of Lithium Extraction Process

Forward Water Technologies Corp (TSXV:FWTC) ("Forward Water Technologies" or the "Company") is pleased to announce that it has been contracted by CleanTech Lithium PLC ("CleanTech Lithium") to provide advisory services for the support and development of CleanTech Lithium's Direct Lithium Extraction (DLE) processes in Chile, this agreement was signed December 31st, 2023

CleanTech Lithium is a pioneering company in the field of lithium extraction from brine, with a focus on sustainable and environmentally friendly practices. The DLE process targeted by CleanTech Lithium aims to revolutionize the lithium extraction industry by efficiently isolating and converting lithium brine into high-purity, battery-grade lithium carbonate, a critical component in the production of lithium-ion batteries for electric vehicles and energy storage systems.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
CORRECTION: Forward Water Technologies Announces Fiscal Year 2023 Financial Results

CORRECTION: Forward Water Technologies Announces Fiscal Year 2023 Financial Results

Correction of all tables in the Summary of Financial Results

Forward Water Technologies Corp. (TSXV:FWTC) (the "Company") is pleased to announce that it has filed its condensed consolidated audited financial statements and related management's discussion and analysis for the three and six months ended September 30, 2023. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Forward Water Technologies to Participate at the Direct Lithium Extraction 2023 Conference in California, USA

Forward Water Technologies to Participate at the Direct Lithium Extraction 2023 Conference in California, USA

Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that Mr. Grant Thornley, Vice-President of Engineering Solution Sales will be present at the Direct Lithium Extraction 2023 Conference as an invited speaker in Orange County, California

Date: December 11-12, 2023

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Carbon Done Right Announces Brokered Private Placement

Carbon Done Right Announces Brokered Private Placement

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /

Carbon Done Right Developments Inc. ("Carbon Done Right" or the "Company") (TSXV: KLX) (FSE: Q1C), formally Klimat X Developments Inc., a company that carries on the business of developing validated and verified carbon credits from afforestation and reforestation of degraded land areas and marine ecosystems, including mangroves, for sale into international voluntary carbon markets, is pleased to announce that is has entered into an agreement with Leede Jones Gable Inc. (the " Agent ") to act as sole agent in connection with a commercially reasonable "best efforts" private placement of up to a maximum of 43,111,000 common shares of the Company (the " Common Shares "), at a price of C$0.05 per Common Share (the " Issue Price "), for gross proceeds to the Company of approximately C$2.1 million (the " Offering "), subject to the maximum amount that may be issued under Part 5A (the " Listed Issuer Financing Exemption ") of National Instrument 45-106 Prospectus Exemptions (" NI 45-106 "). The pricing of the Offering is based on a 6.2% discount to the Volume Weighted Average Price over the prior 30 trading days. The company has calculated a six month Volume Weighted Average Price of $0.09 and $0.132 over 12 months.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Bion Announces Voluntary Share Surrender

Bion Announces Voluntary Share Surrender

Bion Environmental Technologies, Inc. (OTC QB: BNET), a leader in advanced livestock waste treatment technology and premium sustainable beef, announced that several of its largest shareholders have agreed to return up to 30 percent of their holdings to the company for cancellation.

Heirs of Dominic Bassani, Bion's former CEO and largest shareholder who passed in November, will return approximately 20 percent before the Company's June 30, 2024, fiscal year end, with another 10 percent upon Bion meeting funding milestones that are consistent with the company's growth objectives. Mark Smith, Bion's current President, who is transitioning to retirement during this year, will return approximately 30 percent of his holdings over the next month.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bitcoin Well Announces BTC Sessions Partnership

Bitcoin Well Announces BTC Sessions Partnership

Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence is pleased to announce that it has entered into a sponsorship agreement with Ben Perrin, AKA BTC Sessions (" BTC Sessions ") dated April 1, 2024 (the " Agreement ").

BTC Sessions boasts over 130,000 followers on X, 175,000 subscribers and nearly 10,000,000 lifetime views on YouTube, with the majority of his followers in Canada and the USA. Bitcoin Well will have the privilege of the title sponsor which will entitle the Company to the top spot on all advertisements as well as product tutorials and updates.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bitcoin Well Announces Company Record of New Users Signed Up

Bitcoin Well Announces Company Record of New Users Signed Up

Bitcoin Well Inc. (" Bitcoin Well " or the " Company ") ( TSXV: BTCW; OTCQB: BCNWF ), the non-custodial bitcoin business on a mission to enable independence announces a company record for new users signed up in one day.

On March 27, 2024 the Company signed up 146 new users. The previous record was 101 new users, earlier in March of this year.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Forward Water Technologies

Forward Water Technologies Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×