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Forward Water Technologies Corp. and Fraser Mackenzie Accelerator Corp. Announce Closing of Business Combination

Forward Water Technologies Corp. and Fraser Mackenzie Accelerator Corp. Announce Closing of Business Combination

Forward Water Technologies公司和Fraser Mackenzie Accelerator公司宣布业务合并的结束
Accesswire ·  09/30 14:45

TORONTO, ON / ACCESSWIRE / September 30, 2024 / Forward Water Technologies Corp. ("FWTC") (TSXV:FWTC) and Fraser Mackenzie Accelerator Corp ("FMAC") (TSXV:FMAC.P) are pleased to announce the successful closing of their previously announced business combination (the "Transaction"). The combined company will continue to conduct the business operated by FWTC.

多伦多,安大略/ ACCESSWIRE/ 2024年9月30日/ Forward Water Technologies Corp.("FWTC")(TSXV:FWTC)和Fraser Mackenzie Accelerator Corp("FMAC")(TSXV:FMAC.P)很高兴宣布他们之前宣布的业务合并("交易")已成功关闭。合并后的公司将继续进行由FWTC运营的业务。

Summary of the Transaction

交易概述

In connection with the Transaction, and following a 10 for 1 consolidation of the common shares of FWTC ("FWTC Shares"), a wholly-owned subsidiary of FWTC amalgamated with. FMAC and all of the issued and outstanding common shares of FMAC ("FMAC Shares") were exchanged for post-consolidation FWTC Shares at an exchange ratio of 0.95 FWTC Shares for each FMAC Share (the "Exchange Ratio"). In addition, each outstanding option and warrant to purchase an FMAC Share was adjusted to entitle the holders thereof to purchase FWTC Shares based on the Exchange Ratio.

与交易相关,根据每10股FWTC("FWTC股票")进行一次股份整合,FWTC的全资子公司与FMAC合并。 FMAC所有已发行和流通的普通股("FMAC股票")按0.95 FWTC股票换取每个FMAC股票的交换比率进行交换("交换比率")。此外,调整了每个未行使的期权和购买FMAC股票的权证,使持有人依据交换比率有权购买FWTC股票。

Concurrent Financing

Bridge LoanAltus Gold向公司提供了一项无息担保贷款(“ Bridge Loan ”),在与交易有关的情况下,该贷款总本金金额为845,000美元。如果公司与Altus Gold完成交易,则桥式贷款将被免除。如果交易未完成,桥式贷款将由Altus Gold按要求以现金偿还,或在某些情况下,桥式贷款可以用公司的普通股进行结算,须经交易所批准。如果交易所不接受以普通股结算的方式,该贷款仍应以现金偿还。如果桥式贷款以普通股解决,只要Altus Gold持有公司已发行和流通的普通股总数(按不太稀释基础计算),不少于5%,Altus Gold将有权任命一名候选人进入公司的董事会。公司向Altus Gold提交了一份截至2023年5月23日的网格本票据,以证明Bridge Loan。作为桥式贷款的担保,Altus Gold与公司及其分支机构Scorpio Gold(US)公司、Mineral Ridge Gold LLC和Goldwedge LLC于2023年5月23日签订了两份一般担保协议,公司及其分支机构向Altus Gold授予了财产的安全利益,包括现在和未来的,以共同保证承诺。公司已经利用桥式贷款的收益进行交易和工作资本的用途。

As previously announced, prior to the closing of the Transaction, FMAC raised gross proceeds of $1,699,999.95 through the issuance of 15,887,850 subscription receipts at a price of $0.107 per subscription receipt (the "Subscription Receipts"). Prior to the completion of the Transaction each subscription receipt was converted, without payment of additional consideration, into one unit of FMAC (each, a "Unit"). Each Unit consisted of one FMAC Share, and one-half of an FMAC common share purchase warrant (each such whole warrant, a "Warrant"). The FMAC Shares and Warrants issued on conversion of the subscription receipts were exchanged for FWTC Shares and warrants of FWTC, respectively, in accordance with the Exchange Ratio. Each such Warrant now entitles the holder thereof to acquire one FWTC Share for a term expiring on the third anniversary of the closing of the Transaction at a purchase price of $0.1579 per FWTC Share. At the closing of the Transaction, FMAC will pay to certain finders (each, a "Finder") aggregate fees of $96,325.79, being fees not exceeding 8.0% of the gross proceeds raised from subscriptions in the offering from persons who participated in the offering that were introduced to FMAC by such Finder (the "Finder's Fee"), and (b) an aggregate of 872,204 compensation warrants (the "Finder Warrants") issued by FMAC, being an amount of not more than 8.0% of the total number of Subscription Receipts issued to persons who participated in the offering that were introduced to FMAC by such Finder. Each Finder Warrant entitled the holder to subscribe for one Unit at a price of $0.107 at any time on or before September 30, 2026. On closing of the Transaction the Finder Warrants were exchanged for finder warrants of FWTC with the number of warrants and exercise price being adjusted by the Exchange Ratio.

如前所述,在交易结束前,FMAC通过以0.107美元每份认购证发行15,887,850份认购证筹集了1,699,999.95美元的募集资金("认购证")。在交易完成之前,每份认购证根据交换比率兑换成一份FMAC单位(每份为一"单位")。每个单位由一份FMAC股票和一半FMAC普通股购买权证(每份完整的权证为"权证")组成。按照交换比率,认购证转换发行的FMAC股票和权证分别换取了FWTC股票和FWTC的权证。每份权证现在赋予持有人在交易结束后第三个周年之日之前以0.1579美元每份FWTC股票的价格购买一份FWTC股票的权利。交易结束时,FMAC将向某些发现者(每位为"发现者")支付96,325.79美元的总费用,包括不超过总认购费用的8.0%作为由发现者引入参与认购人员中通过发现者向FMAC介绍的认购费用("发现者费"),以及(b)FMAC发行的总计872,204份补偿权证("发现者权证"),数量不超过向由发现者引入的参与认购人员发行的认购证总数的8.0%。每份发现者权证赋予持有人在2026年9月30日或之前的任何时间以0.107美元的价格认购一个单位的权利。交易结束时,发现者权证根据交换比率换取了FWTC的发现者权证,权证数量和行使价格进行了调整。

FWTC Capitalization

FWTC资本化

49,174,592 FWTC Shares are issued and outstanding as at the date hereof after giving effect to the Transaction, including the completion of the conversion of the Subscription Receipts. The effective issue price of the FWTC Shares for the purposes of the Transaction, based on the Issue Price of the subscription receipts adjusted by the Exchange Ratio, is $0.1126. The 49,174,592 FWTC Shares that are issued and outstanding as at the date hereof after giving effect to the Transaction consist of the following: (i) 19,542,448 FWTC Shares issued to holders of common shares of FMAC (excluding FWTC Shares issued to the former holders of Subscription Receipts), (ii) 2,744,575 FWTC Shares issued as a result of the conversion of $300,000 principal amount of FWTC debentures and accrued interest of $31,384 owing to GreenCetnre Canada (at the conversion price of $0.1126 per post-consolidation FWTC Share), (iii) 15,093,459 FWTC Shares issued to the former holders of Subscription Receipts and (iv) 11,794,110 FWTC Shares held by shareholders of FWTC prior to completion of the Transaction.

截至本日期,49,174,592股FWTC股份已发行并流通,经过交易处理后,包括转换认购收据的完成。根据交易目的确定的FWTC股份的有效发行价格为每股$0.1126,根据可转换证券的发行价格经过交易比率调整。截至本日期,49,174,592股FWTC股份已发行并流通,经过交易处理后,包括以下内容:(i)发给FMAC普通股持有人的19,542,448股FWTC股份(不包括发给以前的认购收据持有人的FWTC股份),(ii)因转换$300,000 FWTC债券本金金额和欠GreenCentre Canada $31,384累积利息而发行的2,744,575股FWTC股份(按照每股后合并FWTC股份$0.1126的转换价格),(iii)发给以前的认购收据持有人的15,093,459股FWTC股份,及(iv)交易完成前FWTC股东持有的11,794,110股FWTC股份。

In addition, 4,917,459 FWTC Shares have been reserved for issuance under the terms of the FWTC option plan of which 2,118,612 options are outstanding (both FWTC options and FMAC options), 10,591,756 FWTC Share purchase warrants are outstanding and 2,335,934 broker warrants are outstanding.

此外,4,917,459股FWTC股份已根据FWTC期权计划条款预留发行,其中2,118,612期权处于未清偿状态(包括FWTC期权和FMAC期权),10,591,756股FWTC股份购买权未行使,2,335,934股经纪人认股权未行使。

3,562,500 FWTC Shares and 356,250 options owned or controlled by former "Principals" of FMAC (as defined under Exchange policies) are subject escrow under the policies of the Exchange to be released over periods of 18 months (with the foregoing figures reflecting the first release of 25% on the issuance of the final Exchange bulletin in respect of the transaction).

根据交易所政策,FMAC以前的"主要股东"拥有或控制的3,562,500股FWTC股份和356,250期权受限制期权监管,将在18个月内逐步释放(上述数据反映了关于交易相关的最终交易公告的首次释放25%)。

Early Warning Disclosure Pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

根据《全国工具62-103 - 提前警示系统及相关收购要约和内幕报告问题》提前警示披露

Upon the completion of the Transaction, Sumarria Inc. ("Sumarria"), a private investment management company with its head office located at 22 St Clair Ave E, Suite 2001, Toronto, ON M4T 2S5, became the holder of: (a) 1,776,199 FWTC Shares as a result of the automatic conversion of $200,000 principal amount of convertible debentures of FWTC (the "Debentures"); (b) 7,102,804 FWTC Shares as a result of the exchange of securities of FMAC held immediately prior to the Transaction; and (c) 3,551,402 warrants to purchase FWTC Shares (the "FWTC Warrants") as a result of the exchange of securities of FMAC held immediately prior to the Transaction.

交易完成后,Sumarria Inc.("Sumarria"),一家位于多伦多St Clair Ave E 22号2001室的私人投资管理公司,成为以下股东:(a)作为FWTC可转换债券("债券")$200,000本金金额自动转换的1,776,199股FWTC股份;(b)在交易前即持有的FMAC证券交换结果为7,102,804股FWTC股份;及(c)与交易前即持有的FMAC证券交换的结果为3,551,402个购买FWTC股份的认股权("FWTC认股权")。

Upon completion of the Transaction, Sumarria has ownership and control over an aggregate of 8,879,003 FWTC Shares representing approximately 18.06% of the issued and outstanding FWTC Shares. Assuming exercise of all of 5,327,601 FWTC Warrants held by Sumarria (inclusive of the 1,776,199 FWTC Warrants held prior to the Transaction), Sumarria would have ownership and control over approximately 26.07% of the issued and outstanding FWTC Shares.

交易完成后,Sumarria拥有和控制8,879,003股FWTC股票,约占已发行和流通股份的18.06%。假设Sumarria行使全部的5,327,601 FWTC认股权证(包括交易前持有的1,776,199 FWTC认股权证),Sumarria将拥有和控制已发行和流通股份约26.07%。

Immediately prior to the Transaction, Sumarria was the holder of nil FWTC Shares, $200,000 principal amount of Debentures and 1,776,199 Warrants. Sumarria paid an aggregate of: (a) $200,000 for the Debentures (no further consideration was provided at the date of the Transaction); and (b) $800,000 for the subscription receipts that were ultimately exchanged for 7,102,804 FWTC Shares and 3,551,402 FWTC Warrants.

在交易之前,Sumarria持有零股FWTC股票,20万美元的债券本金和1,776,199认股权证。Sumarria支付了如下总额:(a)20万美元购买债券(交易日期未提供进一步的考虑);以及(b)80万美元用于认购收据,最终交换7,102,804 FWTC股份和3,551,402 FWTC认股权证。

Sumarria acquired the aforementioned securities for investment purposes. In the future, Sumarria may, depending on market and other conditions, increase or decrease Summaria's beneficial ownership of FWTC Shares.

Sumarria出于投资目的收购了上述证券。在未来,根据市场和其他情况,Sumarria可能增加或减少对FWTC股票的实益所有权。

A copy of the early warning report to be filed in connection with Sumarria's security holdings will be available on the Company's SEDAR+ profile at or contact FWTC at the phone number or email noted below.

与Sumarria的证券持有相关的一份预先警告报告副本将可在公司的SEDAR+资料档案或通过以下联系方式与FWTC联系时提供的电话号码或电子邮件中获得。

Further Information

进一步信息

For more information concerning the FWTC's business, capitalization and the Transaction (including the members of the management team and board of directors listed above), see FWTC and FMAC's information circulars provided to shareholders in connection with the shareholders meetings of FWTC and FMAC held on September 23, 2024 which are available under each company's profile on SEDAR+ at .

有关FWTC业务、资本结构和交易的更多信息(包括上述管理团队和董事会成员),请参阅FWTC和FMAC为了与2024年9月23日举行的FWTC和FMAC股东大会有关而向股东提供的信息通知书,这些通知书可以在各自公司的SEDAR+资料档案中找到。

About Forward Water Technologies Corp.

关于Forward Water Technologies Corp.

Forward Water Technologies Corp. (TSX.V: FWTC) is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, DLE, mining, agriculture and ultimately municipal water supply and re-use market sectors.

Forward Water Technologies Corp. (tsxv: FWTC) 是一家公开交易的加拿大公司,致力于利用其专利的向前渗透技术拯救地球的水资源。该公司由加拿大GreenCentre(一个得到加拿大政府支持的领先科技创新中心)创立。该公司的技术可同时降低具挑战性的废水排放,同时回收可再利用的清水或用于表面释放。该公司的使命是专注于其技术在多个板块的大规模实施,包括工业废水、石油天然气、DLE、采矿、农业,最终覆盖市政供水和再利用市场板块。

FWTC has immediate plans to treat brine from the direct lithium extraction (DLE) sector using is mobile pilot equipment this summer in conjunction with its partners. This project will establish FWTC's iFOTM technology as a valuable component in producing lithium carbonate from aquifer sourced brines for use in applications such as electric vehicle (EV) battery production.

FWTC已计划与合作伙伴合作,于今年夏季使用其移动试验设备处理直接锂提取(DLE)板块的卤水。该项目将确立FWTC的iFOTm技术作为从含水层水源卤水中生产出锂碳酸盐的有价值组成部分,用于电动汽车(EV)电池生产等应用。

In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams.

此外,公司已启动早期阶段的食品和饮料过程流处理的研发。

For more information, please visit .

有关更多信息,请访问。

About Fraser Mackenzie Accelerator Corp.

关于Fraser Mackenzie Accelerator Corp.

FMAC was a "capital pool company" which completed its initial public offering on February 22, 2023. The Transaction constitutes FMAC's "qualifying transaction" as contemplated by the policies of the TSXV. In connection with the Transaction, the FMAC Shares will cease being listed on the TSXV at the close of business on October 1, 2024.

FMAC是一家“资本池公司”,于2023年2月22日完成了首次公开发行。该交易构成了FMAC的“资格交易”,符合tsxv的政策。在该交易中,FMAC股票将于2024年10月1日营业结束时停止在tsxv上市。

Contact Information:

联系方式:

Philip Benson, Director and former President & Chief Executive Officer of Fraser Mackenzie
Accelerator Corp.
Email: pbenson@frasermackenzie.com
Telephone: 416-818-6163

Philip Benson,Fraser Mackenzie的董事和前总裁兼首席执行官
Accelerator Corp.
电子邮件:pbenson@frasermackenzie.com
电话:416-818-6163

Forward Water Technologies Corp.
C. Howie Honeyman, Chief Executive Officer
E-mail: howie.honeyman@forwardwater.com
Telephone: (519) 333-5888

前进水技术公司。
首席执行官C. Howie Honeyman
电子邮件:howie.honeyman@forwardwater.com
电话:(519) 333-5888

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

TSX Venture交易所及其监管服务提供方(如TSX Venture Exchange的政策所定义的)对此新闻发布的充分性或准确性不负任何责任。

Caution Concerning Forward Looking Information

关于前瞻性信息的警告

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends" "expects" and similar expressions which are intended to identify forward-looking statements. More particularly and without limitation, this press release contains forward looking statements concerning the plans for FWTC's business and timing for escrow releases. FWTC and FMAC caution that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, assumptions and expectations, many of which are beyond the control of FWTC and FMAC, including expectations and assumptions concerning the FWTC. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of FWTC and FMAC. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

本新闻稿包含前瞻性声明和前瞻性信息(统称为"前瞻性声明"),涉及适用证券法的含义。本新闻稿中包含的任何非历史事实的声明均可视为前瞻性声明。前瞻性声明常常以"可能"、"应该"、"预期"、"将"、"估计"、"相信"、"意图"、"预期"等表达方式来识别前瞻性声明。特别是,在不受限制的情况下,本新闻稿中包含的前瞻性声明涉及FWTC业务计划和托管释放时间。FWTC和FMAC提示,所有前瞻性声明都存在固有的不确定性,实际表现可能受到许多重要因素、假设和预期的影响,其中许多超出FWTC和FMAC的控制范围,包括关于FWTC的预期和假设。请注意,在准备任何前瞻性声明时使用的假设可能被证明是不正确的。事件或情况可能导致实际结果因众多已知和未知的风险、不确定性和其他因素而有所不同,其中许多超出FWTC和FMAC的控制范围。请注意,切勿过分依赖任何前瞻性声明。尽管管理层在准备时认为这些信息是合理的,但实际结果可能与预期有重大差异。本新闻稿中的前瞻性声明受到这些警告性声明的明确限制。

The forward-looking statements contained in this press release are made as of the date of this press release, and neither FWTC nor FMAC undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

本新闻稿中包含的前瞻性声明截至本新闻稿发布日期,FWTC和FMAC均不承诺公开更新或修订所包含的前瞻性声明,除非根据证券法明确要求。

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.

本新闻稿不构成在任何司法管辖区域内出售或购买任何证券的要约或邀请。

SOURCE: Forward Water Technologies Inc.

来源:Forward Water Technologies Inc。

声明:本内容仅用作提供资讯及教育之目的,不构成对任何特定投资或投资策略的推荐或认可。 更多信息
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