Forward Water Technologies Announces Third Quarter 2021 Financial Results
posted on Feb 24, 2022 07:50PM
Water that would otherwise be forever lost to be re-introduced into manufacturing operations, creating a strong ROI's and dramatically reducing their environmental impact
TORONTO, ON / ACCESSWIRE / February 24, 2022 / Forward Water Technologies Corp. (TSXV:FWTC) (the "Company") is pleased to announce that it has filed its condensed consolidated unaudited interim financial statements and related management's discussion and analysis for the three and nine months ended December 31, 2021. Copies of these financial statements and related management's discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated.
Q2 Financial Highlights
Operating Highlights and Recent Corporate Developments
"Forward Water Technologies has been seeing rapidly growing interest in various wastewater sectors by saving water from being permanently destroyed, and realizing large reductions in their operating expenses associated with legacy water solutions. Moreover, the Company is seeing the expansion of its business into the resource recovery sector where the concentration of natural occurring and process water streams improves the economic isolation of minerals such as lithium and other key metals, " said Howie Honeyman, CEO of the Company.
Mr. Honeyman continued, "With the expansion of the sales team as well as working closely with various marketing platforms, the Company will be able to introduce the world actively and aggressively to its patented forward osmosis technology solution. The Company's proven trial runs plus initial funds raised concurrently with its go-public transaction, allows the Company to pursue its aggressive growth strategy and execute on its business plan."
Summary of Financial Results
Statement of Cash Flows
About Forward Water Technologies Corp.
Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors.
For more information, please visit www.forwardwater.com.
For more information or interview requests, please contact:
C. Howie Honeyman - Chief Executive Officer
Neither the TSX Venture Exchange 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 news release.
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the Company's plans to pursue its growth strategy and the impact of the expanded sales team. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.
SOURCE: Forward Water Technologies Corp.