In This Article:
GUELPH, Ontario, March 17, 2025 (GLOBE NEWSWIRE) -- Current Water Technologies Inc. (TSX-V: WATR) ("CWTI" or "the Company" or "the Corporation"), a global leader in the development of novel electrochemical technologies for the treatment of ammonia in the aquaculture, municipal and industrial water treatment sectors and for the production of high purity water, is pleased to announce the sale of patented water treatment system for the production of high purity water.
Following extensive joint market development activities, CWTI and partner have identified a niche market with considerable growth potential. CWTI expects that the successful execution of this initial initiative will lead to significant future sales.
Private Placement update
Gene Shelp, CEO and director (the "Insider") participated in the Private Placement (press released February 7 and 12, 2025) for 3,000,000 Units each and no warrants, which constitute related party transactions pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insiders as a result of their participation in the Private Placement. The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Insiders in the Private Placement in reliance of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25% of the Company's market capitalization as determined in accordance with MI 61-101. The common shares issued to insiders of the Company are subject to a four-month hold period pursuant to applicable policies of the TSX-V.
Neither the TSX Venture Exchange Inc. 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 release.
About Current Water Technologies Inc.
Current Water Technologies is a “Technology Company” applying its patented and proprietary “Electrochemical Technologies” to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e., nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Incorporated operates as a division of the Company and continue to function as an integrated pump station manufacturer specializing in custom design and automation.