Current Water Technologies Plans Private Placement Financing
Current Water Technologies Inc. (TSX-V: WATR) is excited to announce a new opportunity to expand its financial base through a non-brokered private placement aimed at raising up to $350,000. This strategic move is designed to fund equipment sales activities and provide essential working capital for the company. The anticipated close date for this financing is set for mid-February.
Details of the Private Placement
The Company plans to offer a total of up to 11,666,667 Common Shares at a price of $0.03 each, without additional Share Purchase Warrants. This simplified approach to financing has the potential to streamline operations and focus on the core activities that drive Current Water Technologies forward.
Use of Proceeds
The funds raised from this private placement will be allocated primarily towards enhancing equipment sales initiatives and bolstering general working capital. The emphasis on strengthening these areas speaks to the company’s commitment to operational efficiency and future growth. Furthermore, this private placement is free from finder’s fees, maximizing the benefit of the funds raised.
Compliance and Regulations
As with any financing activities, the closing of this offering is contingent upon obtaining all necessary regulatory approvals. This includes oversight from the TSX Venture Exchange (TSXV), which ensures that all transactions meet the strict regulatory standards required for public companies. The securities resulting from this offering will be subject to a hold period, which is crucial for maintaining compliance with applicable securities laws.
About Current Water Technologies Inc.
Current Water Technologies is at the forefront of innovation in water treatment technology. The company applies its patented and proprietary Electrochemical Technologies to effectively address the challenges of wastewater treatment, desalination, and clean drinking water contamination, particularly concerning metals or nutrients like nitrate and ammonia. This focus encompasses a wide range of sectors, including mining, agriculture, waste management, and more.
Specialization in Pumptronics
Moreover, the Company includes Pumptronics Incorporated, a division that specializes in the design and automation of custom pump stations. This integration of technology and specialized equipment positions Current Water Technologies to tackle complex water treatment challenges effectively.
Trading Information
The common shares of Current Water Technologies are listed on Tier II of the TSX Venture Exchange under the ticker symbol “WATR”. This provides investors and stakeholders an opportunity to engage with a company that is poised for innovation and growth in a vital industry known for its environmental significance.
Contact Information
For those interested in more information, Dr. Gene S. Shelp, Ph.D., P.Geo., who serves as President and CEO, is available for inquiries. He can be reached at:
Tel: (519) 836-6155
Fax: (519) 836-5683
Email: gshelp@currentwatertechnologies.com
Frequently Asked Questions
What is the purpose of the private placement?
The private placement is intended to raise funds for equipment sales activities and general working capital purposes.
How many shares are being offered in the private placement?
The company is offering up to 11,666,667 Common Shares at a price of $0.03 each.
What regulatory approvals are needed for the financing?
The closing of the offering is subject to the receipt of necessary regulatory approvals, including from the TSX Venture Exchange.
Is there a hold period for the securities issued?
Yes, the securities issued under the offering are subject to a hold period of four months plus one day following the issuance date.
Who can I contact for more information?
Inquiries can be directed to Dr. Gene S. Shelp, the President and CEO, at the provided phone number or email.
