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

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).