Water Ways arranges $1-million private placement

Executive Summary

• Water Ways Technologies Inc. announced a non-brokered private placement of up to 20 million units for gross proceeds of up to $1 million, with each unit comprising one common share and one warrant.
• The company intends to settle up to $800,000 of outstanding indebtedness by issuing up to 16 million common shares at a deemed price of five cents per share.
• Proposed amendments to outstanding unsecured convertible debentures include reducing the conversion price to five cents per share and extending the maturity date to October 9, 2025.

Key Details

• Private Placement Structure:
  • Up to 20 million units offered.
  • Price: $0.05 per unit.
  • Gross Proceeds: Up to $1,000,000.
  • Unit Composition: One common share and one common share purchase warrant.
  • Warrant Terms: Entitles holder to acquire one common share at an exercise price of $0.07 per warrant share.
  • Warrant Duration: Two years from the closing date.
  • Closing Date: Expected on or about September 30, 2025.
  • Hold Period: Four months and one day statutory hold period.
  • Regulatory Approval: Subject to TSX Venture Exchange approval.
• Debt Settlement Terms:
  • Amount Settled: Up to $800,000 of outstanding debt.
  • Shares Issued: Up to 16 million common shares.
  • Deemed Price: $0.05 per common share.
  • Hold Period: Four months and one day statutory hold period.
  • Regulatory Approval: Subject to TSX Venture Exchange acceptance.
• Debenture Amendments:
  • 2023 Debentures:
    • Principal Amount: $746,000 (issued March 3, 2023).
    • Proposed Conversion Price Change: From $0.24 to $0.05 per common share.
  • 2022 Debentures:
    • Principal Amount: $91,800 (issued June 27, 2022).
    • Proposed Conversion Price Change: From $0.35 to $0.05 per common share.
  • Maturity Extension:
    • New Maturity Date: October 9, 2025.
  • Regulatory Approval: Subject to TSX Venture Exchange approval.