Business
Water Ways closes qualifying transaction with Irri-Al-Tal and completes capital raises totalling over $3.1M
Water Ways closes qualifying transaction with Irri-Al-Tal and completes capital raises tot...
About this update from Water Ways Technologies, Inc.
[{"type":"text","content":"\n\n\n\nWater Ways closes qualifying transaction with Irri-Al-Tal and completes capital raises totalling over $3.1M\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 7, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n TORONTO, March 7, 2019 /CNW/ - Water Ways Technologies Inc. (formerly Sagittarius Capital Corporation) (NEX Board: SCX.H) (\"Water Ways\" or the \"Company\"), is pleased to announce further to its press releases dated December 31, 2018, August 27, 2018 and June 27, 2018, that it has closed its previously announced Qualifying Transaction (\"QT\") with Irri-Al-Tal Ltd. (\"IAT\") a company incorporated under the laws of Israel. In addition, aggregate gross proceeds totalling $3,109,570 was raised in connection with the QT, of which $2,818,125 was raised via public offering (\"Offering\") of units (\"Units\") of Water Ways and $291,445 by way of a private placement (\"Concurrent Private Placement\") of units of IAT (\"IAT Units\").\nOhad Haber, President, CEO and Director of Water Ways commented: \"We are very pleased to announce the completion of the financing and securities exchange with Sagittarius and look forward entering this new chapter of our company. As a global leader in providing innovative irrigation equipment and irrigation turnkey solutions, this financing positions us to pursue opportunities in new markets and new product and service verticals. We also expect that becoming a public company will provide us with additional credibility on the global stage in order to attract additional financing to aggressively accelerate our sales. We thank everyone who made this milestone possible and look forward to demonstrating the full potential of Israeli innovation in the irrigation sector\".\nAdam Szweras, Director and Corporate Secretary of Water Ways, and Chairman of the Company's financial advisor FMI Capital Advisory Inc., added: \"Our firm has worked with Water Ways for over a year now and we are excited about the gro...