Forward Water Technologies Grant of Stock Options - January 09, 2023

Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that it has granted incentive stock options to certain employees of the Company to acquire an aggregate of 620,000 common shares in the capital of the Company at an exercise price of $0.085 (the "Options") in accordance with the Company's 10% rolling incentive stock option plan. The Options are exercisable for a five-year term expiring January 9, 2028. The Options granted vest as to one-third immediately, the second third on January 9th 2024 and the final third on January 9th, 2025

About Forward Water Technologies Corp.

Forward Water 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.

Mr. 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. 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.