Forward Water Technologies Corp. announced a private placement of a minimum of 20,000,000 units a maximum of 40,000,000 units at a price of CAD 0.05 per unit and 26,525,774 units at a price of CAD 0.05 per unit as LIFE offering for the gross proceeds of CAD 1,326,288.70 for the gross proceeds of CAD 3,326,289 on October 31, 2023. Each unit will consist of one common share of the company and one share purchase warrant of the company.

Each warrant will entitle the holder to purchase one share at a price of CAD 0.075 per warrant share. At the closing of the LIFE offering and concurrent private placement, the company shall pay to the agents a cash commission equal to 10.0% of the gross proceeds of the LIFE offering and concurrent private placement and will issue to the agents a number of non-transferable warrants of the company equal to 10.0% of the number of units sold under the LIFE offering and concurrent private placement. The LIFE offering and Concurrent Private Placement are scheduled to close on or around November 27, 2023.

All securities issued in connection with the Concurrent Private Placement will, where applicable, be subject to a statutory hold period of four months and one day. All the securities are are subject to certain conditions including, but not limited to, receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange.