CWTI Closed Private Placement – $209,450
GUELPH, Ontario, June 03, 2025 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSX-V: WATR) ('CWTI' or 'the Company') announces that the private placement announced May 26, 2025 with total proceeds of $209,450 CAD is now closed.
The Company has raised a total of $209,450 and issued 6,981,667 units at a price of $0.03 per unit. Each unit is comprised of one Common Share and one Share Purchase Warrant ('Warrant'). One Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.06 per Share, which is exercisable for a period of three (3) years from the date of closing. All securities issued pursuant to the Private Placement will be subject to a four month and one day hold period, in accordance with applicable securities laws. In connection with the Private Placement, the Company has paid no finder's fees.
The Private Placement was made pursuant to the minimum price exception within Policy 1.1 of the TSXV Corporate Manual allowing for the issuance of Listed Shares equal to the Market Price, subject to a minimum price of $0.01.
Gene Shelp, CEO and director (the "Insider") participated in the Private Placement (press released May 26, 2025) for 1,315,000 Units each and 1,315,000 warrants, which constitute related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insiders as a result of their participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Insiders in the Private Placement in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The common shares issued to insiders of the Company are subject to a four-month hold period pursuant to applicable policies of the TSX-V.
About Current Water Technologies Inc.
Current Water Technologies is a 'Technology Company' applying its patented and proprietary 'Electrochemical Technologies' to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Incorporated, a division of the Company, is an integrated pump station manufacturer specializing in custom design and automation. The common shares trade on Tier ll of the TSX Venture Exchange under the symbol 'WATR'.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Dr. Gene S. Shelp, Ph.D., P.Geo. President and CEO
Tel: (519) 836-6155 Fax: (519) 836-5683 E-mail: gshelp@currentwatertechnologies.com Web Site: www.currentwatertechnologies.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of the 'safe harbour' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Current Water Technologies Inc. results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and in certain documents incorporated by reference into this press release constitute forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and "confident" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Current Water believes that the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Current Water undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.Sign in to access your portfolio
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