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DWR - Dominion Water Reserves News Story

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Last Trade - 16/04/21

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

Dominion Water Announces Closing of $ 1,175,000 Private Placement

Mon 1st March, 2021 12:30pm
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MONTREAL, March 01, 2021 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp.
(“DWR” or the “Corporation”) (CSE:DWR), is pleased to announce that it
has complete a non-brokered private placement (the "Private Placement"),
pursuant to which it has issued an aggregate of 11,750,000 units (each, an
“Unit”) at a price of $0.10 per Unit for gross proceeds of $1,175,000.

Each Unit is comprised of one common share in the capital of the Corporation
(each, a “Share”) and one share purchase warrant (each, 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.

The Corporation paid $5,000 in cash to certain finder as finder’s fee. 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.

Director Appointment

The Corporation also wishes to announce the appointment of Mr. Michael Pesner
as a Director of the Corporation. Mr. Pesner is the president of Hermitage
Canada Finance Inc., which specializes in financial advisory, mergers and
acquisitions, and divestiture services to a range of corporations. Between
1977 and 2003, he held a number of roles, including partner, senior partner
and board member at KPMG in Montreal. He brings extensive governance
experience as a current or former board member with companies in a variety of
industries including, but not limited to, mining (Wallbridge Mining Company
Ltd.) (Richmont Mines Inc.), retail (SAQ -- Société des Alcools du Québec,)
and financial (Fonds Regional de Montreal FTQ).(Peak Fintech Group Inc)

“We are thrilled to have Mr. Michael Pesner join our board as we embark on
our second year as a public company. He brings tremendous experience and
contacts that will no doubt benefit the Corporation as we continue to expand
in our areas of focus”, commented Mr. Germain Turpin Chairman of the
Corporation.

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.


(https://www.globenewswire.com/NewsRoom/AttachmentNg/5bf6a75c-61b9-4044-9493-172dd530e481)



GlobeNewswire, Inc. 2021
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