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MONTREAL, May 02, 2022 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp. (“DWR” or the “Corporation”) (CSE:DWR), is pleased to announce that it intends to complete a non-brokered private placement (the "Private Placement"), pursuant to which it will issue up to 6,250,000 units (each, a "Unit") at a price of $0.08 per Unit for gross proceeds of $500,000.
Each Unit will be comprised of one (1) common share in the capital of the Corporation (each, a "Share") and one fourth (0.25) Share purchase warrant (each whole, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share in the capital of the Corporation (each, a "Warrant Share") for a period of 24 months from the closing date (the “Warrant Expiry Date”) at an exercise price of $0.15. Insiders may participate in the Private Placement.
The proceeds from the Private Placement will be used by the Corporation for working capital and other general corporate purposes.
All securities issued in respect of the Private Placement will be subject to a hold period of four (4) months and a day from closing of the Private Placement in accordance with securities laws.
The Private Placement is subject to certain conditions, including but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE.
About Dominion Water Reserves Corp.
DWR’s operations are based in Quebec, with its primary business being a consolidator of the water industry by acquiring fresh spring water permits and developing operations across Quebec with plans to expand across North America. DWR currently controls more than 30% of Quebec’s volume of fresh groundwater reserves currently under permit and is strategically positioned to increase its holding. DWR’s mission is to acquire, manage and develop spring water assets building a critical mass in terms of capacity and strategically securing a leadership role in North America’s fresh spring water. The corporation prioritizes sustainability and environmental consciousness.
For further information please contact
Jean Gosselin
Phone: 514-707-0223
Email: jgosselin@dwrcorp.ca
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
