Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - FirstLine Venture Partners Corporation ("FirstLine") announces that, on September 9, 2026, it acquired an aggregate of 150 units (the "Units") of Forward Water Technologies Corp. (TSXV: FWTC) ("FWTC" or the "Issuer") at a price of $1,000 per Unit, for aggregate consideration of $150,000, pursuant to FWTC's non-brokered private placement of Units for aggregate gross proceeds of $150,000 (the "Acquisition"). Each Unit is comprised of one secured bridge debenture of the Issuer with a face value of $1,000 (each, a "Bridge Debenture") and 8,000 common share purchase warrants of the Issuer (each, a "Warrant"). Each Warrant is exercisable to acquire one common share of the Issuer at an exercise price of $0.05 per common share for a period of 36 months from the date of issuance. The Bridge Debentures are not convertible into common shares of the Issuer.
Immediately prior to the Acquisition, FirstLine beneficially owned and exercised control and direction over 3,309,257 common shares, a convertible debenture of the Issuer in the principal amount of $100,000 (convertible into 1,428,571 common shares at a conversion price of $0.07 per common share) and 972,414 common share purchase warrants of the Issuer (each exercisable to acquire one common share of the Issuer), representing approximately 6.73% of the Issuer's issued and outstanding common shares on a non-diluted basis and approximately 11.07% on a partially-diluted basis (assuming exercise or conversion only of the convertible securities of the Issuer held by FirstLine).
After giving effect to the Acquisition, FirstLine beneficially owns and exercises control and direction over 3,309,257 common shares, a convertible debenture of the Issuer in the principal amount of $100,000 (convertible into 1,428,571 common shares at a conversion price of $0.07 per common share), 2,172,414 common share purchase warrants of the Issuer (each exercisable to acquire one common share of the Issuer) and $150,000 aggregate principal amount of non-convertible Bridge Debentures of the Issuer, representing approximately 6.73% of the Issuer's issued and outstanding common shares on a non-diluted basis and approximately 13.09% on a partially-diluted basis (assuming exercise or conversion only of the convertible securities of the Issuer held by FirstLine). The Acquisition represents an increase of approximately 2.02% in FirstLine's holdings of the Issuer's common shares on a partially-diluted basis. The Units were acquired by FirstLine for investment purposes. FirstLine may acquire or dispose of additional securities of the Issuer in the future depending on market prices and provided such acquisitions or dispositions may be completed in accordance with applicable securities laws. A copy of the early warning report filed by FirstLine in connection with the Acquisition has been filed under the Issuer's profile on SEDAR+ at www.sedarplus.ca.
The head office of the Issuer is located at 1086 Modeland Road, Sarnia, Ontario N7S 6L2. FirstLine's address is 1401-2992 Glen Drive, Coquitlam, British Columbia V3B 0V2.
For further information please contact:
John Koehle, Director
Telephone: 416-895-0668
Email: john@firstlineventurepartners.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315584
