Forward Water extends placement closing date to Oct. 22

Executive Summary

• Forward Water Technologies Corp. has obtained TSX Venture Exchange consent to extend the closing date for its non-brokered private placement of convertible debentures to on or before October 22, 2025.
• The extension is intended to accommodate recent investor interest in the offering, which aims to raise up to $750,000.
• The offering consists of debenture units priced at $1,000 each, comprising $1,000 in principal convertible debentures and 5,000 common share purchase warrants.

Key Details

• Transaction Structure: Non-brokered private placement of unsecured convertible debentures.
• Gross Proceeds: Up to $750,000.
• Unit Price: $1,000 per unit.
• Components per Unit:
  • $1,000 principal amount of convertible debentures.
  • 5,000 common share purchase warrants.
• Warrant Terms:
  • Entitle holder to acquire one common share.
  • Exercise Price: $0.07 per share if exercised on or before the first anniversary of issuance; $0.10 per share thereafter.
  • Expiration: 36-month anniversary of the date of issuance.
• Debenture Terms:
  • Maturity: 36 months from the date of issuance.
  • Interest Rate: 14% per annum, payable annually.
  • Conversion Price: $0.07 per share during the first year; $0.10 per share thereafter.
  • Prepayment Right: Company has the right to prepay at any time following 12 months from issuance.
  • Accrued Interest: At holder's option, company will apply to TSX-V to convert accrued interest into common shares at the prevailing market price.
• Insider Participation:
  • Insiders intend to subscribe for at least 25% of the offering.
  • Constitutes a related party transaction under MI 61-101.
  • Company relies on exemptions from formal valuation and minority approval requirements, as insider participation is estimated not to exceed 25% of market capitalization.
• Regulatory & Legal:
  • Closing subject to TSX-V approval and other corporate/regulatory approvals.
  • Conducted via prospectus exemptions.
  • Statutory hold period: 4 months + 1 day from issuance.
  • Finders' fees may be paid in accordance with TSX-V policies.

Notable Quotes

• None provided in the text.