Forward Water Technologies Corp (TSE:FWTC) has released an update.
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Forward Water Technologies Corp. has successfully closed a private placement of secured debentures totaling $225,000, some of which are convertible and tied to an upcoming business combination with Fraser Mackenzie Accelerator Corp. The funds raised will bolster the company’s working capital, while the securities are subject to a four-month hold period. Notably, significant portions of the debt were acquired by related parties, adhering to regulatory exemptions for transactions of this nature.
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