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Forward Water Technologies Corp. Announces Renewal of Contract with Agora Internet Relations Corp.
TORONTO, ON / ACCESSWIRE / February 7, 2023 / Forward Water Technologies Corp. (" Forward Water"...
About this update from Forward Water Technologies Corp
[{"type":"text","content":"Forward Water Technologies Corp. Announces Renewal of Contract with Agora Internet Relations Corp.TORONTO, ON / ACCESSWIRE / February 7, 2023 / Forward Water Technologies Corp. (\"Forward Water\" or the \"Company\") (TSXV:FWTC) wishes to announce that it has renewed its agreement (the \"Renewal Agreement\") with Agora Internet Relations Corp. (\"AGORA\") to provide online advertising, marketing and branding services (\"Advertising Services\") as of January 1, 2023. The Company is paying nothing in cash for the program due to AGORA'S shares for services program.Agoracom RenewalPursuant to the terms of the Renewal Agreement the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine marketing over the next 12 months. In addition, exclusive sponsorships of digital properties such as AGORACOM TV, the AGORACOM home page and the AGORACOM Twitter account will serve to raise the brand awareness of the Company among small cap investors.H. Honeyman, President and CEO stated, \"AGORA has proven to be a valuable partner over the last year. We are delighted to have renewed their services to continue to expand our presence in the clean technology sector.\"The Company intends to issue common shares in the capital of the Company (\"Common Shares\") to AGORA in exchange for the Advertising Services. Pursuant to the terms of the Renewal Agreement, the Company will pay a total fee of $100,000 + HST, through the issuance of Common Shares as follows:$20,000 + HST immediately following receipt of regulatory approval through the issuance of 322,857 Common Shares at a deemed issue price per share of $0.07;$20,000 + HST Shares for Services at end of Third Month April 1st, 2023;$20,000 + HST Shares for Services at end of Sixth Month July 1st, 2023;$20,000 + HST Shares for Services at end of Ninth Month October 1st, 2023;$20,000 + HST Shares for Services at end of Twelfth Month January 1st, 2024.All Common Shares issued pursuant to the Renewal Agreement will be subject to a four month hold period.The deemed price of the Common Shares to be issued will be the closing price of the Common Shares on the TSX Venture Exchange on each of the dates stated above.The term of the Renewal Agreement is for 12 months and is effective as of January 1st, 2023.The Renewal Agreement and issu...