Forward Water arranges $750,000 private placement

Mr. Howie Honeyman reports FORWARD WATER TECHNOLOGIES CORP. ANNOUNCES CONVERTIBLE DEBENTURE FINANCING Forward Water Technologies Corp. has arranged a proposed non-brokered private placement of convertible debentures for proceeds of up to $750,000. The convertible debentures will mature on the date that is 36 months from the date of issuance and bear interest at 14 per cent per annum, payable annually. Until the principal and all interest owing are paid, a holder shall have the option to convert the principal and all accrued interest owing pursuant to the convertible debenture into common shares of the company at a conversion price of seven cents per share during the first year of the term, and at a conversion price of 10 cents thereafter, subject to customary adjustments. Certain insiders of the company intend to participate in the private placement and are expected to subscribe for at least 25 per cent of the offering. Any participation by insiders in the private placement will constitute a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company intends to rely on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that fair market value of the participation in the offering by insiders will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101. Closing of the private placement is subject to the company obtaining all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. The private placement will be conducted in reliance upon certain prospectus exemptions. Pursuant to applicable Canadian securities laws, all securities issued in connection with the private placement will be subject to a statutory hold period of four months plus a day from the date of issuance. The company may pay finders' fees in connection with the private placement and in accordance with the policies of the TSX-V. About Forward Water Technologies Corp. Forward Water Technologies 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 reuse 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 reuse market sectors. In addition, the company has initiated early stage R&D (research and development) for the treatment of food and beverage process streams. We seek Safe Harbor.