Forward Water Technologies Announces Second Quarter 2022 Financial Results – Investing News Network
Forward Water Technologies Corp. (TSXV:FWTC) (the "Company" or "FWTC") is pleased to announce that it has filed its condensed consolidated un-audited financial statements and related management's discussion and analysis for the three and six months ended September 31, 2022 and 2021. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated
Q2 Financial Highlights
Operating Highlights and Recent Corporate Developments
Management Commentary
"The Company continues to progress on its projected business plan and commercial development. Our focus remains on continued client engagement through the use of our expertise, technical resources, and providing access to our proprietary equipment platform." said Howie Honeyman, CEO of the Company.
Summary of Financial Results
Income Statement
Balance Sheet
Statement of Cash Flows
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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 GreenCentre 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. In addition, the Company has initiated early stage R&D for the treatment of food and beverage process streams.
For more information, please visit www.forwardwater.com.
Contact Information
For more information or interview requests, please contact:
C. Howie Honeyman – Chief Executive Officer
howie.honeyman@forwardwater.com
416-451-8155
Neither the 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.
Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. 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: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; 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 set forth 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.
SOURCE: Forward Water Technologies Corp.
News Provided by ACCESSWIRE via QuoteMedia
Forward Water Technologies (TSXV:FWTC) is helping lithium mining companies and other industries reduce their environmental impact through its innovative wastewater treatment technology that enables industrial operations to reduce liquid waste volume by up to 95 percent.
Environmental, social and governance (ESG) ratings continue to be a key business strategy for organizations as they impact public perception and partnership possibilities. For water-intensive industries, such as mining, sustainable wastewater management is critical.
Transformative wastewater technologies are critical for both businesses and the world’s population. In fact, unless sufficient progress is achieved, UNICEF and WHO estimate that 1.6 billion people will be without access to safe drinking water by 2030, and 2.8 billion will be without access to safe sanitation and hygiene. Water treatment technologies can disrupt current trends and improve global access to safe drinking water.
Through its Forward Osmosis (FO) technology, Forward Water is providing an environmentally friendly alternative to traditional wastewater disposal. Traditionally, wastewater disposal requires transporting untreated wastewater for deep well disposal or high-intensity thermal treatment. Forward Water’s FO system is installed at the client site, and wastewater is treated to reduce waste volume and produce valuable clean water for reuse in the manufacturing process. Then, the significantly reduced volume of wastewater is transported and disposed of, significantly saving on transportation and disposal costs.
The FO technology targets three massive sectors: industrial wastewater, mining and food manufacturing. Forward Water’s unique and patented FO technology achieves high-rate water extraction within a low-energy continuous process. The process reduces waste and allows up to 95 percent water recovery, ready for reuse.
Forward Water’s Li-FO™ technology is ideal for lithium-brine mining operations, allowing mines to “fine tune” brine sources to improve concentration by up to 20 times. This results in improved recovery and makes lower-concentration brines economically viable. Forward Water is currently embarking on an early development testing project to further evaluate and refine the technology’s viability in lithium mining.
Howie Honeyman, CEO, recently explained how the company’s technology can improve lithium mining industry operations. “A lot of lithium being mined today around the world is coming from underground aquifers that store the lithium brine. The challenge is that the lithium is surrounded by other minerals and salts, requiring chemical ‘tweezers’ to pluck out that lithium. What we can do is, at multiple places in that process, we can concentrate that lithium-containing water stream, which makes it far easier for these miners to handle the volumes they need to extract that lithium.”
An experienced management team with technical expertise leads the company towards further refining and deploying its technology. The team includes experts in materials science, chemistry and engineering. Additional experts in corporate administration and financing round out the leadership team to lead the company toward its goals.
Forward Osmosis (FO) is a naturally occurring process in which water is spontaneously drawn across a membrane when one solution is higher in salt concentration than the other. The difference in salinity, known as the osmotic gradient, creates a low-energy water treatment process.
Forward Water Technologies has leveraged the naturally occurring process to innovate its patented three-step FO technology, allowing for 95 percent wastewater reduction and 95 percent water recovery.
Project Highlights:
Dr. Howie Honeyman has 20 years of experience commercializing new technologies at Xerox, Cabot Corp., E Ink, Natrix Separations and as former CTO of GreenCentre Canada. Commercialized high capacity high throughput membranes for bioprocessing as SVP of Natrix Separations, which was recently acquired by Millipore-Sigma. Since 2015, Honeyman has been leading Forward Water to become a premier wastewater treatment solution. Honeyman is also an inventor of record on over 50 US patents and holds a PhD in chemistry from the University of Toronto.
Michael Willetts has over 25 years in financial leadership roles primarily in manufacturing, from large multinational businesses to startups, both public and private. He previously worked as an engineer in the automotive industry before entering into finance at Ford Motor Company. Willets went on to progressively larger finance roles in several international automotive suppliers (Textron, GKN, DSM) and Canadian manufacturers (Armtec, Stronach International, AirBoss of America). Willetts is currently providing fractional CFO services through WD Numeric Corporate Services in the manufacturing, SaaS and cannabis industries. Willetts graduated with a BASc, BComm and MBA from the University of Windsor.
Dr. Wayne Maddever received his Ph.D. in materials science engineering from the University of Toronto. Since 1985, he has held senior executive management positions with technically based businesses in start-up, turnaround or acquisition situations where his skills in change management have brought considerable success in the commercialization of new technologies. His experience in both private and public companies, domestically and internationally, spans a broad variety of industries, including bio and advanced materials, precision manufacturing, recycling, waste-to-energy and medical devices. He holds a number of patents in several fields. He is a fellow of the Canadian Academy of Engineering. In addition to his duties as COO of Forward Water, he is currently portfolio manager at Bioindustrial Innovation Canada, one of the major shareholders of Forward Water.
Grant Thornley is a business strategist with more than 25 years of experience. He has developed and grown international water/wastewater markets through innovative growth hacking techniques and processes, synergized with product development and positioning, data analytics and acceleration of go-to-market strategies through alliances and partnerships. Having expertise in chemical, mechanical and biological treatment processes as well as designing hundreds of municipal and industrial applications, Thornley brings a knowledge-to-action approach to helping clients solve problems and realize new opportunities in water reuse, energy conservation and CO2 reduction.
Leonard Seed has over 18 years of experience developing and commercializing new water and wastewater treatment technologies, primarily in a start-up environment. Seed is named as an inventor on over seven patents and has authored several publications. Seed is a professional engineer and has an MSc in environmental engineering from the University of Guelph. Leonard holds inventorship on seven US patents and is an instructor at Mohawk College teaching aspects of water treatment technologies and leading research efforts on forward osmosis.
Dr. Philip Jessop is a professor and Canada Research Chair of Green Chemistry at the Department of Chemistry, Queen’s University in Kingston, Ontario. He also serves as the technical director of GreenCentre Canada and executive research director at Forward Water Technologies. After his Ph.D. (British Columbia, 1991) and a postdoctoral appointment (Toronto, 1992), he became a contract researcher in Japan working for R. Noyori (Nobel Prize 2001). As a professor at the University of California-Davis (1996-2003) and since then at Queen’s, he has studied green solvents and the chemistry of carbon dioxide. Distinctions include the NSERC Polanyi Award (2008), Killam Research Fellowship (2010), Canadian Green Chemistry & Engineering Award (2012), Eni Award (2013), Fellowship in the Royal Society of Canada (2013), a Canada Research Chair Tier 1 (2013 to 2020), and the NSERC Brockhouse Prize (2019). He serves as chair of the editorial board for the journal Green Chemistry, has chaired three international conferences, and helped create GreenCentre Canada, a national center of excellence for the commercialization of green chemistry technologies. Forward Water is a spin-off company based on Dr. Jessop’s switchable solvents.
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) is pleased to announce that it has been awarded $97,773 in matching funds as part of The Canadian Food Innovation Network's Innovation ("CFIN") Booster Program
Forward Water is developing an entirely new, food-safe process for cold concentration of foodstuffs, resulting in up to 10x the concentration capability when compared to thermally based technologies. This technology which stems from the forward osmosis proprietary process already used by the Company, is expected to advance the competitiveness of Canada's food business ecosystem through the production of higher quality end products with reduced GHG emissions associated with conventional processing. President and CEO, Howie Honeyman comments, "The ability to cold concentrate liquid food and beverage streams preserves the high quality of the product while intensifying flavours and aromas, produces no secondary waste stream, and accomplishes the process using only a fraction of the energy that traditional thermal processes require. The net result is a superior product made at reduced costs that lowers GHG emissions. The support from CFIN will enable us to accelerate this development and get to market even faster".
The CFIN Food Innovation Challenge seeks to support disruptive start-ups in the food service industry who are on the cusp of development and commercialization. The challenge is limited to Canadian-led collaborations and grants are awarded based on merit.
"This project is a great example of the transformative innovation happening across Canada's food sector that often goes unnoticed or undercelebrated. We're excited to support Forward Water as they bring their sustainable cold concentration process technology to market where it can enhance and improve several products and process while reducing energy consumption." — Joe Lake, CEO of CFIN
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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, food and beverage concentrates, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. For more information, please visit www.forwardwater.com.
About Canadian Food Innovation Network:
The Canadian Food Innovation Network (CFIN) is a national non-profit, member-based organization that's stimulating transformative and transferrable innovation across the Canadian food sector. We connect the Canadian food ecosystem to fresh insights, ideas, and technologies to elevate their business and increase their innovation capacity. You can become a CFIN member (for free!) in less than five minutes.
To learn more about CFIN, please visit www.cfin-rcia.ca.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer
Forward Water Technologies Corp.
howie.honeyman@forwardwater.com
Phone: (519) 333-5888
For further information please contact:
Kayla.ferderber@forwardwater.com
Forward-Looking Statements
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.
News Provided by ACCESSWIRE via QuoteMedia
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that Mr. Grant Thornley, Vice-President of Engineering Sales as well as Alessandra Rodriguez, Research Engineer will be exhibiting live at WEFTEC in New Orleans from October 8 to October 12, 2022
Date: October 8 – October 12, 2022
Location: New Orleans Morial Convention Center, Booth #4047 in Hall F in the Canadian Pavillion
Link: https://www.weftec.org
WEFTEC 2022 is an event where water professionals from around the world showcase the best in water quality education, the latest technologies, and trends. The Company is proud to present its patented forward osmosis solution that has the potential to significantly reduce water usage in many industrial use applications at this water quality event. Vice-President of Engineering Sales, Mr. Thornley comments "We are excited to be exhibiting at WEFTEC this year, as it provides us the opportunity not only to promote our technology and solution offerings but also to meet with our representatives and to network with industry experts".
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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 GreenCentre 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.
About the WEFTEC Water Quality Event 2022
The WEFTEC is celebrating its 95th annual Technical and Exhibition Conference this year in New Orleans. This is the largest water/wastewater conference in North America, providing access to the most cutting-edge technologies in the field. With thousands of water and wastewater professionals from around the world in attendance each year, sharing their experience with trends, water quality and proven solutions. For more information, please visit https://www.weftec.org.
Mr. Howie Honeyman, Ph.D., President & Chief Executive Officer
Forward Water Technologies Corp.
howie.honeyman@forwardwater.com
For further information please contact:
Kayla.ferderber@forwardwater.com
Neither the 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.
Forward Looking Statements
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, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.
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 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 set forth 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.
SOURCE: Forward Water Technologies Corp.
News Provided by ACCESSWIRE via QuoteMedia
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces their participation, in conjunction with Membracon UK, to support a study of Forward Osmosis with Cranfield University
Forward Osmosis is a water separation process which uses a semipermeable membrane and the natural energy of osmotic pressure to separate water from dissolved solutes. This solution technology process is, in most manners, used for product concentration, wastewater concentration and the extraction of clean water for reuse. With the ongoing world wide water crisis these emerging technologies will provide clean water alternatives to legacy solutions. As a leader in the global clean water initiatives, Forward Water is looking to expand their partnerships with leading educational institutions to assist in clean water recovery.
Cranfield University is a research intensive, exclusively post-graduate institution, working closely with business, industry and government to produce transformational sustainable solutions using their science, engineering, and management expertise. Cranfield Water Science Institute hosts unique world-class research facilities that expedite the delivery of leading-edge impact-oriented insights and solutions. Membracon and Forward Water will support the project in part, with significant additional funding from the UK. President and CEO, Mr. Honeyman comments, "Forward Water and Membracon view this relationship and the on-going study of forward osmosis as a path to rapid technology introduction into the UK market. With Cranfield providing a critical analysis of our process performance, we collectively remove barriers to adoption and allow faster and higher confidence implementation." The Company's patented technology solution has the ability to improve concentration feeds by extracting clean water and facilitating the isolation process.
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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.
howie.honeyman@forwardwater.com
Phone: (519) 333-5888
For further information please contact:
Kayla.ferderber@forwardwater.com
Forward-Looking Statements
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.
News Provided by ACCESSWIRE via QuoteMedia
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that it has secured an early development testing project to support a globally positioned mining company to aid in the sustainable lithium isolation pathway
The supply of lithium carbonate is projected to be realized by sourcing lithium from naturally occurring water sources such as aquafers. Critical to this isolation process is the handling of high-strength brine solutions. Methods of brine concentration will be a needed part of the process train and those methods must be both economical and be of limited impact on the surrounding environment. As lithium extraction methods rely on water as a key material, the implementation of new water technologies that ensure water will be preserved becomes essential. The Company's patented technology solution has the ability to concentrate the lithium containing feeds by extracting clean water and facilitate the isolation process. Once completed, the clean water is then returned to the original source, used in replenishing the aquifer or re-used in the industrial process all while creating a more efficient procedure.
An early development testing project has been established in which Forward will test its water treatment capabilities with field sourced brines to ascertain its potential commercial effectiveness. This is the first step in ensuring a commercial, profitable, and environmentally responsible production pathway. President and CEO, Mr. Honeyman comments, "We are pleased to initiate the first steps in exploring how our technology can be exploited for lithium production. If successful our potential partnership will allow rapid deployment of an efficient water preserving process across the globe." The Company's ability to concentrate challenging brines throughout the lithium processing path positions Forward Water to be an exceptional tool and an asset for lithium production. Moving forward with an economically advanced process as well as a reduced carbon footprint is essential for the sustainability of the world.
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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.
howie.honeyman@forwardwater.com
Phone: (519) 333-5888
For further information please contact:
Kayla.ferderber@forwardwater.com
Forward-Looking Statements
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.
News Provided by ACCESSWIRE via QuoteMedia
Forward Water Technologies Corp. ("Forward Water" or the "Company") (TSXV:FWTC) announces that it has secured an early development contract to support a prominent western Canadian lithium company to further optimize lithium isolation
Ensuring proficient lithium capture is essential to minimize costs, limit the consumption of water, and provide the highest quality battery-grade lithium materials. Guaranteeing a steady supply of this mineral while minimalizing the carbon footprint associated with their production and trade is critical to building a sustainable future. Using Forward Waters low energy demand forward osmosis process to concentrate the brines will lead to new and more efficient processing methods for mineral recovery. Recent studies in the Company's labs using real-world brines have shown that highly effective concentration, using their forward osmosis process, can be readily achieved, especially in the lithium sector. In many cases, over 90% of the water can be removed from the brines leading to a >10x increase in lithium concentration. President and CEO, Mr. Honeyman comments, "FWTC's unique ability to concentrate challenging brines throughout the lithium processing path positions FWTC to be an exceptionally useful tool for lithium production. Working cooperatively with Canadian producers allows us to magnify both of our opportunities.".
The government of Canada has estimated a lithium resource of approximately 2.9 million tonnes and with the use of this new technology solution, there will be a direct effect on the manufacturer's carbon footprint both in the manufacturing process and the emission of greenhouse gasses. Through the use of this new technology, compared to the current methods of disposal, large energy savings will be recognized for the sustainability of the country. This is especially important as the demand for materials such as lithium is expected to vastly outstrip supply for many years to come.
About Forward Water Technologies Corp.
Forward Water Technologies Corp. 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.
howie.honeyman@forwardwater.com
Phone: (519) 333-5888
For further information please contact:
Kayla.ferderber@forwardwater.com
Forward-Looking Statements
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.
News Provided by ACCESSWIRE via QuoteMedia
ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") announces its financial results for the third quarter. The Company has filed its financial statements ("FS") and related management discussion and analysis ("MD&A") on SEDAR for the quarterly results ending September 30, 2022 ("Q3 2022").
Q3 2022 Financial Summary
The Company reports an increase to its cash flow of $138,820 compared to a decrease of $296,724 in the previous year. Reported total assets are $11,167,772, up 128% from last year of $4,887,202 reported on December 31, 2021.
The Company reduced general and administrative costs by 20% for the period ended September 30, 2022 from $943,794 to $747,905 due to operating efficiencies. Marketing expenses were also reduced from $206,824 to $168,637.
Please refer to the Q3 2022 filing in its entirety, which is available under ScreenPro's profile at www.sedar.com.
The following table summarizes revenue, net income (loss) and EBITDA* for Q3 2022 and 2021:
All figures are in Canada dollars unless otherwise noted.
Outlook
In May 2022, the Company acquired Naturevan Nutrition Ltd. ("Naturevan"), a natural health supplement company advancing ScreenPro into the health and wellness industry. In October 2022, Naturevan launched its first batch of vitamin supplements on the Amazon U.S. market, introducing its Probiotics to consumers. Naturevan products are expected to hit the Canadian Amazon market in the new year and expand its product offerings by introducing additional supplements to both markets in 2023.
The Company's COVID-19 testing operations remain steady as COVID-19 continues to burden Canadians. The Company continues to administer testing to the community and the film and production industry and is working on expanding its clientele, as well as working with experts on establishing objectives with Add Biomedical ("Add Bio").
Additionally, Concierge Medical Consultants Inc. ("Concierge") is focused on growing its IV Vitamin Therapy operations, as well as Prestige and Home Care services and continues to serve patients and focus on generating revenue in the medical and healthcare space.
"The Company is focused on getting additional Naturevan products out on the Amazon U.S. market and has plans to launch on the Canadian Amazon market in the new year. There is a sharp focus on generating sales and revenue from Naturevan on all fronts, and the Company expects to see results in sales in the next quarter. As our Covid operations remain steady, the Company is also focused on Concierge Medical and bridging the current gap in the healthcare system for patients to bring more accessible Concierge care to Canadians. As the year progresses, expanding all operations and creating revenue is our priority," said Andrew Ryu, Chief Executive Officer and Chairman of the Company.
About ScreenPro
Founded in 2020, ScreenPro Security is a health and wellness management company that delivers professional health and medical solutions to Canadians. With a focus on concierge medical services, ScreenPro Security offers personalized health care services such as IV vitamin therapy, personal home care, nurse care, on-call urgent medical care, nutrition, and health screening services, such as COVID-19 testing. Our team of board-certified physicians and health care professionals bring years of expertise to provide knowledgeable and trustworthy solutions to improve patients' overall health outcomes.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com.
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: (416) 901-5611 x 204
Email: priya@screenprosecurity.com
Andrew Ryu, Chief Executive Officer and Chairman
Tel: 416-901-5611 x 201
Email: aryu@screenprosecurity.com
Forward Looking Statements:
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145603
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About Lake Resources NL:
Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) is a clean lithium developer utilising clean, direct extraction technology for the development of sustainable, high purity lithium from its flagship Kachi Project, as well as three other lithium brine projects in Argentina. The projects are in a prime location within the Lithium Triangle, where 40% of the world's lithium is produced at the lowest cost.
This method will enable Lake Resources to be an efficient, responsibly-sourced, environmentally friendly and cost competitive supplier of high-purity lithium, which is readily scalable, and in demand from Tier 1 electric vehicle makers and battery makers.
Source:
Lake Resources NL
Contact:
Nigel Kassulke at Teneo
M: +61-407-904-874
E: Nigel.Kassulke@teneo.com
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Premier Health of America Inc. (TSXV: PHA) (the " Corporation " or " Premier Health "), a leading Canadian Healthtech company, announced today that the TSX Venture Exchange (" TSXV ") has accepted the Corporation's application for its normal course issuer bid (the " NCIB ") for a portion of its outstanding common shares (" Common Shares ") as appropriate opportunities arise from time to time. The Corporation's NCIB will be made in accordance with the requirements of the TSXV and applicable securities laws.
Pursuant to the NCIB, Premier Health may repurchase up to a maximum of 1,428,571 Common Shares representing approximately a value of $500,000 at the current market price and 7% of its public float, where the aggregate public float as at November 14, 2022, was 19,664,860 Common Shares. Purchases under the NCIB may be made through the facilities of the TSXV, based on the prevailing market price at the time of acquisition. The NCIB will be funded using existing cash resources and any Common Shares purchased under the NCIB will be cancelled.
The Corporation believes that the NCIB is in the best interest of the Corporation and constitutes an adequate use of its available funds to increase shareholder value and returns of the Corporation.
Acumen Capital Partners Ltd. has been appointed by the Corporation to coordinate and facilitate its NCIB purchases. The price to be paid by the Corporation for any Common Shares will be the market price at the time of acquisition or such other price as a securities regulatory authority may permit. The period during which Premier Health is authorized to make purchases under the NCIB commences on November 18, 2022 and ends on November 17, 2023 or such earlier date on which the maximum number of Common Shares are purchased under the NCIB or the NCIB is terminated at the Corporation's election.
About Premier Health
Premier Health is a leading Canadian Healthtech company that provides a comprehensive range of outsourced services solutions for healthcare needs to governments, corporations, and individuals. Premier Health uses its proprietary PSweb platform to lead the healthcare services sector digital transformation to provide patients with faster, cheaper and more accessible care services.
For Further Information Please Contact:
Mr. Jean-Robert Pronovost
Vice-President, Corporate Development
Premier Health of America Inc.
jrpronovost@premierhealth.ca / 1 800 231 9916
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Corporation's common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Corporation assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. These factors and others are more fully discussed in the filings of the Corporation with Canadian securities regulatory authorities available at www.sedar.com.
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~Montfort proposes two new classes of preferred shares to strengthen capital structure~
Montfort Capital Corporation (" Montfort " or the " Company ") (TSXV: MONT) (OTCQB: MONTF), a leading innovator of technology in private credit, is pleased to announce that a special meeting of its shareholders (the "Meeting") will be held December 9, 2022 at 9:00am ( Vancouver time) to seek shareholder approvals necessary to modify the capital share structure of the Company.
At the Meeting, shareholders of the Company will be asked to make amendments to the special rights and restrictions attached to existing Common Shares and Series A Preferred Shares and to authorize the special rights and restrictions for two new preferred share classes: Class B preferred shares and Class C preferred shares.
Further information regarding the resolutions that shareholders will be asked to approve at the Meeting and details of how to vote are included in the management information circular of the Company dated as of November 9, 2022 (the "Circular") and other documents which can be found on the Company's profile on SEDAR at sedar.com and on the Company's corporate website at www.montfortcapital.com .
Montfort manages a diversified family of specialized private credit brands that utilize focused strategies and experienced management teams combined with advanced technology to improve fee related performance. Montfort facilitates transparency for all of its investors through public company reporting. For further information, please visit www.montfortcapital.com .
Neither the 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.
Certain information and statements in this news release contain and constitute forward-looking information or forward-looking statements as defined under applicable securities laws (collectively, "forward-looking statements"). Forward-looking statements normally contain words like 'believe', 'expect', 'anticipate', 'plan', 'intend', 'continue', 'estimate', 'may', 'will', 'should', 'ongoing' and similar expressions, and within this news release include any statements (express or implied) respecting the future growth of the Company and the Company's future financial performance.
Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable and appropriate in the circumstances, including, without limitation, the assumption that the Company and its investee companies are able to meet their respective future objectives and priorities and assumptions concerning general economic growth and the absence of unforeseen changes in the legislative and regulatory framework for the Company.
Although management believes that the forward-looking statements are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Montfort's business. Material risks and uncertainties applicable to the forward-looking statements set out herein include but are not limited to: intense competition in all aspects of business; reliance on limited management resources; general economic risks; new laws and regulations and risk of litigation. Although Montfort has attempted to identify factors that may cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, predicted, estimated or intended. Also, many of the factors are beyond the control of Montfort . Accordingly, readers should not place undue reliance on forward-looking statements. Montfort undertakes no obligation to reissue or update any forward-looking statements as a result of new information or events after the date hereof except as may be required by law. All forward-looking statements contained in this news release are qualified by this cautionary statement.
SOURCE Montfort Capital Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/14/c1485.html
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ScreenPro Security Inc. (CSE: SCRN) (OTCQB: SCRSF) ("ScreenPro" or the "Company") is pleased to announce a non-brokered private placement financing of up to 20 million units of the Company ("Units") at a price of $0.05 per Unit (the "Private Placement").
Each Unit will consist of one (1) common share of the Company ("Share") and one (1) common share purchase warrant ("Warrant"). Each warrant will entitle the holder thereof to acquire one Share of the Company at a price of $0.05 per Share for a period of eighteen (18) months from the date of issuance.
The gross proceeds of the Private Placement will be used for general working capital, growth, expansion, and general corporate purposes.
Connection with the Private Placement, the Corporation may pay finders' fees equal to up 4% cash of the aggregate proceeds raised in the Private Placement.
The Private Placement is expected to close on or about November 17, 2022.
The closing of the Private Placement is subject to certain conditions including, but not limited to, the approval of the Canadian Securities Exchange (the "CSE").
All securities that are issued pursuant to the Private Placement will be subject to a hold period of four (4) months and one (1) day in accordance with applicable Canadian Securities laws.
About ScreenPro
Founded in 2020, ScreenPro Security is a health and wellness management company that delivers professional health and medical solutions to Canadians. With a focus on concierge medical services, ScreenPro Security offers personalized health care services such as IV vitamin therapy, personal home care, nurse care, on-call urgent medical care, nutrition, and health screening services, such as COVID-19 testing. Our team of board-certified physicians and health care professionals bring years of expertise to provide knowledgeable and trustworthy solutions to improve patients' overall health outcomes.
For additional information on ScreenPro and other corporate information, please visit the Company's website at www.screenprosecurity.com
For more information about the Company, please refer to the Company's profile on SEDAR at www.sedar.com.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Investor Relations & Communications
Priya Monique Atwal, Director of Communications
Tel: (416) 901-5611 x 204
Email: priya@screenprosecurity.com
Andrew Ryu, Chief Executive Officer and Chairman
Tel: 416-901-5611 x 201
Email: aryu@datametrex.com
Forward-Looking Statements:
Certain statements contained in this news release may constitute forward‐looking information, including statements relating to the future development of ScreenPro's business. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The actual results of ScreenPro could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which ScreenPro operates, prevailing economic conditions, changes to ScreenPro's strategic growth plans, and other factors, many of which are beyond the control of ScreenPro. Management of ScreenPro believes that the expectations reflected in the forward‐looking information herein are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents ScreenPro's expectations as of the date hereof and is subject to change after such date. ScreenPro disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
###
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143707
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X1 Entertainment Group Inc. (CSE: XONE; OTCQX: XOEEF; FSE: ZI0) ("X1" or the "Company"), a video games and media portfolio company, has today announced the launch of www.ShiftRLE.gg an all-new sports news outlet aimed at the global Rocket League fan community.
Merging its two wholly-owned media properties, ShiftRLE and Octane.gg, ShiftRLE.gg is well positioned to be the leading source for Rocket League news offering roster reports and industry rumors, and hosting an extensive database of play-by-play and game-by-game statistics which allow fans to uniquely analyze the game on a deeper level. Player and team pages will enable fans to track their favorite pro's performances throughout the season and new features to be developed such as live videos, live scores and fantasy sports will also allow fans to immerse themselves in the league and engage with the wider game community.
"What we're creating is essentially the online equivalent of major sports broadcasters, but for Rocket League, a game that's seen exponential growth and attracted a highly engaged, global fan base in a very short period of time," said Mark Elfenbein, CEO, X1 Entertainment Group Inc. "Through consolidating ShiftRLE and Octane.gg, two of the highest profile and best loved news sources in the space, ShiftRLE.gg delivers the very best of both, giving global Rocket League fans everything they could need, all in one place."
Described as "soccer, but with rocket-powered cars", Rocket League has up to eight players assigned to each of the two teams, who use rocket-powered vehicles to hit a ball into their opponent's goal and score points over the course of a match. According to ActivePlayer , Rocket League has almost six million players a day globally, and almost 90 million playing monthly. The league has also garnered the attention of some major global brands including Nike, McLaren, BMW, Aston Martin and many more who are quickly capitalizing on Rocket League by getting involved through sponsorships and even creating their own teams.
About X1
X1 Entertainment Group Inc. is a diversified portfolio company with assets across the gaming, esports, media, and entertainment industries. Based in Vancouver, BC, X1 is publicly traded on the Canadian Securities Exchange under the ticker symbol (CSE: XONE).
Mark Elfenbein
CEO and Director
For enquiries, please call 604-229-9445 or toll free 1-833-923-3334 or email info@X1Ent.com.
www.X1Ent.com
Cautionary Statement
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "intends" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb3db31c-0857-478f-9433-476dcc6611f5 
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