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MONTREAL, February 19, 2021 (GLOBE NEWSWIRE) – Dominion Water Reserves Corp. (DWR or the society) (CSE: DWR), is pleased to announce its intention to complete a non-intermediary private placement (the “Private placement“), under which it will issue up to 11,750,000 units (each, a”Unit“) at a price of $ 0.10 per Unit for maximum gross proceeds of $ 1,175,000.
Each unit will consist of one ordinary share in the capital of the company (each, one “Share“) and a warrant (each, a”To guarantee“). Each warrant will entitle its holder to purchase one additional share of the capital of the company (each,Share of mandates“) for a period of 24 months from the closing date (the Mandate expiry date) at an exercise price of $ 0.15. Insiders can participate in the private placement.
The initial closing date is expected to occur around February 26, 2021.
Certain eligible intermediaries may receive a commission on the sale of units to eligible investors under the private placement.
The proceeds of the private placement will be used by the Company for working capital and other general corporate purposes.
All securities issued within the framework of the private placement will be subject to a holding period of four (4) months and one day from the close of the private placement in accordance with securities laws.
The Private Placement is subject to certain conditions, including, but not limited to, receipt of all necessary regulatory and market approvals, including the approval of the CSE.
Resignation of the administrator
Finally, the Company announces that Andrew Lindzon has resigned from the Board of Directors of the Company.
On behalf of the Society and the Board, I would like to thank Andrew for his contribution over the past year. His insightful and experienced contributions have been greatly appreciated, and we wish Andrew the best in his future endeavors, said Germain Turpin, President and CEO.
About Dominion Water Reserves Corp.
DWR’s operations are based in Quebec, its main activity being a grouping of the water industry by acquiring fresh spring water permits and developing activities across Quebec with plans for expansion across North America. The DWR currently controls more than 30% of the volume of fresh underground water in Quebec
reserves currently under license and is strategically positioned to increase its stake. The mission of DWR is to acquire, manage and develop spring water resources by creating critical mass in terms of capacity and strategically ensuring a leadership role in North American fresh spring water. The company gives priority to sustainable development and environmental awareness.
For more information, please contact
Neither the CSE nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this release.
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