Dominion Water Reserves logo

DWR - Dominion Water Reserves News Story

C$0.1 0.0  0.0%

Last Trade - 16/04/21

Micro Cap
Market Cap £3.92m
Enterprise Value £3.91m
Revenue £n/a
Position in Universe 2174th / 2713

Dominion Water Announces $650,000 Financing, Appointment of New Executive Management and Debt Settlement

Mon 19th October, 2020 9:30pm
For best results when printing this announcement, please click on link below:


MONTREAL, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp.
(“DWR” or the “Company”) (CSE:DWR), is pleased to announce that it has
(i) appointed a new President and CEO, as well as a VP Marketing, (ii) closed
a non-brokered private placement offering of units of DWR (the
“Financing”) for gross proceeds of $650,000, and (iii) settled an
aggregate of $104,455 in trade payables to two arm’s length parties through
the issuance of common shares of DWR (the “Debt Settlement”).

Management Changes

The Company announces the resignations of Ms. Marie-Claude Bourgie as Director
and interim CEO of DWR. The Company would like thank Ms. Bourgie for her
leadership and positive contribution to the business of the Company during
these early months of DWR being a public company. Concurrently, the Company
wishes to announce the appointment of Mr. Andrew Lindzon as President and CEO,
and a Director of the Company, as well as the appointment of Ms. Alexandra
Frank as VP Marketing.

Mr. Lindzon is a graduate of Osgoode Hall Law School and has consulted to a
number of organizations around technology and business processes across North
America. He is the founder of Ashlin Technology Solutions which provides
leading edge technology to the Fortune 1000. Andrew also has strong public
market experience serving as a Director in a number of companies.

Ms. Frank has studied Biology and Neurosciences at Wilfrid Laurier University
and has worked as a consultant in the health and wellness areas. Additionally,
she was also a product marketing and strategy consultant for Revive
Therapeutics, a pharma-IP based portfolio company.

“We are very pleased to welcome Andrew Lindzon and Alexandra Frank to our
team”, commented Mr. Turpin Chairman of the Company, adding, “their
experience and relationships will assist us in seeking and evaluating future
opportunities to complement our existing water assets and grow the Dominion
Water brand.”


The Company announces that it has raised $650,000 by way of a non-brokered
private placement of 6,500,000 Units, at an issue price of $0.10 per Unit.
Each Unit consists of one common share in the capital of the Company (a
“Share”) and one Share purchase warrant (a "Warrant"). Each Warrant
entitles the holder thereof to purchase one additional Share at a price of
$0.15 per Share for a period of 36 months following the closing of the
Financing. The net proceeds of the Financing will be used for working capital

In connection with the closing of the Financing, the Company paid certain
finder’s fees to EMD Financial Inc. and PowerOne Capital Markets Limited
consisting of an aggregate of $65,000 in cash, 325,000 Shares and 325,000
finder warrants having the same terms and conditions as the Warrants issued
pursuant to the Financing.

All securities issued pursuant to the Financing are subject to a hold period
of four months and one day from their date of issuance and as such are
restricted from trading until February 17, 2021.

Debt Settlement

The Company announces that it has settled an aggregate of $104,455 in trade
payables to two arm’s length parties through the issuance of an aggregate of
994,809 Shares of DWR at an issue price of $0.105 per Share. All Shares issued
pursuant to the Debt Settlement are subject to a hold period of four months
and one day from their date of issuance and as such are restricted from
trading until February 17, 2021.

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 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 market. The
corporation prioritizes sustainability and environmental consciousness.

For further information please contact
Jean Gosselin
Phone: 514-707-0223

Neither the CSE nor its Regulation Services Provider accepts responsibility
for the adequacy or accuracy of this release.


GlobeNewswire, Inc. 2020
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.