Current Water Technologies Announces Private Placement
Current Water Technologies Inc. (TSX-V:WATR), based in Ontario, is embarking on an exciting journey by announcing a private placement financing of up to $220,000. This endeavor is subject to regulatory approval and aims to support the company's growth and operational efficiency. The financing will allow for the issuance of up to 7,333,333 units priced at just $0.03 each.
Details of the Private Placement
Each unit in this private placement comprises one common share along with one share purchase warrant. The warrant grants the holder the right to purchase an additional common share at an exercise price of $0.06 per share, valid for three years post-closing. The funds raised will be allocated towards enhancing equipment, boosting sales activities, and strengthening general working capital for Current Water Technologies.
Closing and Regulatory Approval
The completion of this offering is contingent upon obtaining the necessary approvals from regulatory bodies, including the TSX Venture Exchange (TSXV). Additionally, as per securities laws, the issued securities will be subject to a hold period, ensuring compliance and market integrity.
About Current Water Technologies Inc.
Current Water Technologies is affectionately recognized as a pioneering technology company specializing in advanced water treatment solutions. Their unique and patented electrochemical technologies focus on treating water contaminated with metals and nutrients, such as nitrate and ammonia. This service is fundamental for various sectors, including mining, agriculture, and municipal waste management. A vital arm of the company, Pumptronics Incorporated, excels in custom-designed and automated pump stations, further enhancing Current Water’s operational capabilities.
Impact on Water Treatment Industry
Innovations by Current Water Technologies are pivotal as global concerns regarding water quality and scarcity continue to escalate. By applying their proprietary technologies, the company is setting new standards for sustainability and efficiency in the treatment of wastewater and drinking water. Their contributions are vital in alleviating the challenges posed by contaminated water sources across multiple industries.
Leadership and Contact Information
Dr. Gene S. Shelp, Ph.D., P.Geo., serves as the President and CEO of Current Water Technologies. His leadership is crucial for driving the company’s vision and activities forward. For further information, stakeholders can reach out as follows:
Tel: (519) 836-6155
Fax: (519) 836-5683
Email: gshelp@currentwatertechnologies.com
Website: www.currentwatertechnologies.com
Frequently Asked Questions
What is the main purpose of the private placement by Current Water Technologies?
The private placement aims to raise funds for equipment acquisition, enhancing sales activities, and general working capital purposes.
How much is Current Water Technologies looking to raise through this placement?
The company seeks to raise a total of up to $220,000 through this financing.
Who is eligible to participate in this financing?
This private placement is a non-brokered offering, typically available to accredited investors and possibly other stakeholders as permitted by securities regulations.
What kind of securities are being offered?
The securities being offered are units consisting of common shares and share purchase warrants.
What is the expected outcome after the completion of this financing?
The financing will provide essential funds to support operational growth and initiatives, positioning Current Water for future advancements in the water treatment sector.
