Forward Water Technologies Corp. Announces Renewal of Contract with Agora Internet Relations Corp.
TORONTO, ON / ACCESSWIRE / February 7, 2023 / Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) wishes to announce that it has renewed its agreement (the "Renewal Agreement") with Agora Internet Relations Corp. ("AGORA") to provide online advertising, marketing and branding services ("Advertising Services") as of January 1, 2023. The Company is paying nothing in cash for the program due to AGORA'S shares for services program.
Pursuant to the terms of the Renewal Agreement the Company will receive significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine marketing over the next 12 months. In addition, exclusive sponsorships of digital properties such as AGORACOM TV, the AGORACOM home page and the AGORACOM Twitter account will serve to raise the brand awareness of the Company among small cap investors.
H. Honeyman, President and CEO stated, "AGORA has proven to be a valuable partner over the last year. We are delighted to have renewed their services to continue to expand our presence in the clean technology sector."
The Company intends to issue common shares in the capital of the Company ("Common Shares") to AGORA in exchange for the Advertising Services. Pursuant to the terms of the Renewal Agreement, the Company will pay a total fee of $100,000 + HST, through the issuance of Common Shares as follows:
$20,000 + HST immediately following receipt of regulatory approval through the issuance of 322,857 Common Shares at a deemed issue price per share of $0.07;
$20,000 + HST Shares for Services at end of Third Month April 1st, 2023;
$20,000 + HST Shares for Services at end of Sixth Month July 1st, 2023;
$20,000 + HST Shares for Services at end of Ninth Month October 1st, 2023;
$20,000 + HST Shares for Services at end of Twelfth Month January 1st, 2024.
All Common Shares issued pursuant to the Renewal Agreement will be subject to a four month hold period.
The deemed price of the Common Shares to be issued will be the closing price of the Common Shares on the TSX Venture Exchange on each of the dates stated above.
The term of the Renewal Agreement is for 12 months and is effective as of January 1st, 2023.
The Renewal Agreement and issuance of Common Shares is subject to the approval of the TSX Venture Exchange.
AGORACOM is the pioneer of online marketing, broadcasting, conferences and investor relations services to North American small and mid-cap public companies, with more than 300 companies served. AGORACOM is the home of more than 7.7 million investors that visited 55.2 million times and read over 600 million pages of information over the last 10 years. The average visit of 8min 43sec is more than double that of global financial sites, which can be attributed to the implementation and enforcement of the strongest moderation rules in the industry.
About Forward Water Technologies Corp.
Forward Water 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 Green Centre 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, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer
Forward Water Technologies Corp.
Phone: (519) 333-5888
For further information please contact:
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as outlined in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.
Neither 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.
SOURCE: Forward Water Technologies Corp.
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