Business
Forward Water Technologies Corp. Announces Amendments to Convertible Debenture Financing Terms
TORONTO, ON / ACCESS Newswire / August 6, 2025 / Forward Water Technologies Corp. (" FWTC " or...
About this update from Forward Water Technologies Corp
[{"type":"text","content":"Forward Water Technologies Corp. Announces Amendments to Convertible Debenture Financing TermsTORONTO, ON / ACCESS Newswire / August 6, 2025 / Forward Water Technologies Corp. (\"FWTC\" or the \"Company\") (TSXV:FWTC) is pleased to announce certain amendments to the terms of its previously disclosed (see press release dated July 31, 2025) proposed non-brokered private placement of unsecured convertible debentures (the \"Convertible Debentures\") for proceeds of up to $750,000 (the \"Private Placement\"). The Company now intends to issue units (\"Debenture Units\"), each priced at $1,000, with each Debenture Unit consisting of (i) $1,000 principal amount of Convertible Debentures and (ii) 5,000 common share purchase warrants (\"Warrants\"). Each Warrant will entitle the holder to acquire one common share of the Company (a \"Common Share\") at any time up to the 36-month anniversary of the date of issuance. The exercise price of the Warrants will be $0.07 per Common Share if exercised on or before the first anniversary of issuance, and $0.10 per Common Share thereafter. In addition, the Convertible Debentures will now include a pre-payment right in favour of the Company, exercisable at any time following the date that is 12 months from the date of issuance. All other material terms of the private placement remain unchanged from those set out in the Company's prior press release and are summarized below for reference.The Convertible Debentures will mature on the date that is 36 months from the date of issuance (the \"Maturity Date\") and bear interest at 14% per annum, payable annually. Until the principal and all interest owing are paid, a holder shall have the option to convert the principal owing pursuant to the Convertible Debenture into common shares of the Company at a conversion price of $0.07 per share during the first year of the term, and at a conversion price of $0.10 thereafter, subject to customary adjustments. At the holder's option, the Company will apply to the TSX Venture Exchange for approval to convert accrued interest into Common Shares at the then prevailing market price, pursuant to the policies of the TSX Venture Exchange.Certain insiders of the Company intend to participate in the Private Placement and are expected to subscribe for at least 25% of the offering. Any participation by insiders in the Private Pl...