Forward Water Technologies Updates Convertible Debenture Terms

Forward Water Technologies Corp. has revised the terms of its proposed non-brokered private placement of unsecured convertible debentures, intending to raise up to $750,000. Debenture Units will now be priced at $1,000, including $1,000 principal amount of Convertible Debentures and 5,000 common share purchase warrants. Each warrant offers the holder the right to buy one common share at $0.07 within the first year and $0.10 thereafter, valid for 36 months.

The Convertible Debentures carry a 14% annual interest rate, maturing 36 months post-issuance, with a conversion option for common shares at $0.07 in the first year, escalating to $0.10 thereafter. The issuance is open to insider participation, constituting a "related party transaction" under Canadian regulations.

Subject to regulatory approval, the private placement aligns with certain exemptions under Canadian securities laws, imposing a statutory hold period on issued securities. The company's forward-looking statements include potential insider participation and usage of proceeds.