Forward Water Technologies Corp. completes reverse take-over and concurrent private placement of subscription receipts

1 minute read
20 October 2021

On October 20, 2021, Hope Well Capital Corp. (the "Company") acquired all the issued and outstanding shares of Forward Water Technologies Inc. (the "Target") by way of a three-cornered amalgamation of the Target and a wholly-owned subsidiary of the Company and issued 66,076,700 common shares in the capital of the Company to the shareholders of the Target. The Resulting Issuer is classified as a Tier 2 Industrial Issuer and operates under the name Forward Water Technologies.

The Company also completed a concurrent private placement of subscription receipts for gross proceeds of $6.47 million.

The shares of Forward Water Technologies commenced trading on the TSX Venture Exchange on October 26, 2021, and the shares of Hope Well Capital have been delisted.

Gowling WLG advised Forward Water Technologies with respect to these transactions with a team that included Nurhan Aycan, Peter Doelman, Joseph McDonald and Sean Walsh (corporate/securities) and Mariam Al-Shikarchy (tax).

NOT LEGAL ADVICE. Information made available on this website in any form is for information purposes only. It is not, and should not be taken as, legal advice. You should not rely on, or take or fail to take any action based upon this information. Never disregard professional legal advice or delay in seeking legal advice because of something you have read on this website. Gowling WLG professionals will be pleased to discuss resolutions to specific legal concerns you may have.