Forward Water Technologies and Fraser Mackenzie Accelerator Finalize Business Combination

Toronto, September 30, 2024 - Forward Water Technologies Corp. (FWTC) and Fraser Mackenzie Accelerator Corp (FMAC) have successfully completed their business combination. The merged company will continue the operations previously run by FWTC.

The transaction included a 10-for-1 consolidation of FWTC shares, and FMAC shares were exchanged at a ratio of 0.95 FWTC shares for each FMAC share. Existing FMAC options and warrants were adjusted accordingly.

Preceding the transaction, FMAC raised $1,699,999.95 via the issuance of 15,887,850 subscription receipts, each priced at $0.107. These were converted into FMAC shares and then exchanged for FWTC shares and warrants.

Post-transaction, FWTC has 49,174,592 outstanding shares. Sumarria Inc. now holds 8,879,003 FWTC shares, accounting for approximately 18.06% of the total shares.

For detailed information, visit the FWTC and FMAC profiles on SEDAR+.