Water Ways Technologies Pursues Funding and Debt Restructuring
Water Ways Technologies Targets New Funding Opportunities
Water Ways Technologies Inc. (TSXV: WWT), a key player in the agricultural technology sector, is advancing its financial strategy with several significant initiatives. The company is launching a non-brokered private placement aimed at raising up to $1,000,000 through the issuance of 20,000,000 units.
Understanding the Private Placement
The offering comprises units priced at $0.05 each, with each unit providing investors with one common share and one share purchase warrant. Each warrant allows for the purchase of an additional common share at $0.07, a potential value increase for investors within a two-year period.
Prospective Timing and Conditions
The closing of this offering is anticipated to occur around the end of September. However, this is contingent upon meeting standard regulatory requirements, including securing approval from the TSX Venture Exchange.
Addressing Outstanding Debt
Additionally, Water Ways plans to alleviate up to $800,000 in existing debt by issuing up to 16,000,000 common shares at a price of $0.05 each. This debt settlement will aid in streamlining the company's financial obligations while enhancing its capital structure.
Necessary Approvals
This settlement strategy also requires acceptance by the TSXV, ensuring that all transactions adhere to established regulations and holding periods under Canadian securities laws.
Proposed Changes to Existing Debentures
Water Ways is concurrently looking to amend terms for its existing 8% unsecured convertible debentures. The amendments aim to change the conversion price of these debentures significantly, from $0.24 and $0.35 to a unified price of $0.05.
Future Maturity Dates
Furthermore, the maturity date for these debentures is proposed to extend to October 9, 2025. Such adjustments indicate Water Ways’ commitment to creating a flexible and conducive environment for investment and growth.
Company Overview: Agriculture and Innovation
Water Ways Technologies Inc. specializes in delivering innovative irrigation solutions, drawing from advanced Israeli agricultural technology. This focus on optimizing water usage positions the company to benefit from the increasing demand for sustainable agricultural practices across North America.
Contact Information for Inquiries
If you have any questions regarding Water Ways and its initiatives, please reach out to Ronnie Jaegermann, Director. You can contact him at +972-54-4202054 or via email at Ronnie@exit-team.com.
Frequently Asked Questions
What is the purpose of the private placement?
The private placement aims to raise up to $1,000,000 for Water Ways to enhance its capital structure and fund growth initiatives.
How will the debt settlement benefit the company?
By settling outstanding debt with shares, Water Ways can reduce liabilities, improving financial flexibility and positioning for future projects.
What amendments are being proposed regarding the debentures?
The company intends to lower the conversion prices of existing debentures and extend the maturity dates to facilitate better investment conditions.
When is the expected closing date for the offering?
The private placement is expected to close around September 30, pending regulatory approvals.
Where can I find more information about Water Ways?
Visit the company's official website or contact the Director, Ronnie Jaegermann, for further insights into their operations and strategies.
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