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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 Signs Definitive Agreement With Aquanor for Unique 13 ppm Silicim Rich Mineral Water Source

Tue 27th October, 2020 1:10pm
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UNITED STATES.

MONTREAL, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp.
(“DWR” or the “Company”) (CSE:DWR), is pleased to announce that
further to its August 18, 2020 news release, it has entered into a definitive
share purchase agreement (“Agreement”) dated October 26, 2020 with Aquanor
Inc. (“Aquanor”) pursuant to which  DWR will acquire all of the issued
and outstanding securities of 11973002 Canada Inc., a wholly owned subsidiary
of Aquanor, thereby owning a 100% interest in the St-Joseph de Coleraine
water source (the “Acquisition”).

The aggregate consideration payable by DWR in connection with the Acquisition
is $650,000, which is comprised of the following: (i) a $150,000 deposit,
which has been paid by DWR concurrently with the signature of the Agreement;
(ii) the issuance of an aggregate of 714,286 common shares in the capital of
DWR, at a deemed price of $0.35 per share (the agreed upon price at the time
of the signature of the letter of intent on August 18, 2020), representing a
value of $250,000, to Aquanor at the closing of the Acquisition; (iii) the
payment of the sum of $150,000 to Aquanor at the closing of the Acquisition;
and (iv) the payment of the sum of $100,000 to Aquanor on March 1, 2021.

The closing of the Acquisition is subject to, among other things, the receipt
of regulatory approvals, the final transfer of the interests comprising the
St-Joseph de Coleraine water source, and the entering into of a definitive
25-year water sale contract with Aquanor upon the terms and conditions
previously disclosed, namely to sell the specialised water, reflecting $0.005
per liter for the first 5 years, $0.01 per liter for the following 5 years;
$0.015 per liter for the subsequent 5 years $0.02 per liter for the then
following 10 years. After 25 years, the price per liter would be subject to an
annual increase based on the Canadian consumer price index.

With 71 million litres per year of permitted extraction volume this source
located in Saint Joseph de Coleraine features 13 ppm silicium content, a
unique water quality that is very sought after in the specialty water market.
Silica also known as silica dioxide is a compound from silicon molecules and
oxygen, Silica boasts bone-strengthening qualities: One of the big benefits of
silica is its ability to strengthen your bones. The compound is essential for
controlling the flow of calcium in and out of our bones, assisting with proper
bone maintenance. Both human and animal models have shown that silica
supplementation can directly improve the integrity of your bones and also
reduces their fragility. Silica improves collagen production: Studies have
shown that silica can help to form the building blocks of collagen, a protein
found in your skin, cartilage, blood, muscles and ligaments that helps to keep
your skin elastic. It also helps to provide crucial protection and structure
to various organs and joints in your body. Collagen can also help reduce the
appearance of wrinkles while also strengthening your nails and hair follicles.

Silica has been shown to help your heart and immune system: Recent research
has found that silica can improve your heart health by reducing the risk of
atherosclerosis, also known as hardening of the arteries, and may prevent
Alzheimer’s. It has also been reported to lower cholesterol levels and
control inflammation in the body according to recent discoveries.

The acquisition and development of this silicium water source and its
commercialization in environmentally friendly packaging is expected to add
value to DWR’s strategic portfolio of assets and position the company for
the health and wellness marketplace.

The global market for Bottled Water is projected to reach US$307.6 billion by
2025, driven by the growing need to slake the thirst of a growing world
population. World population is poised to grow from 7.8 billion in 2019 to
over 9.8 billion by 2050. In line with this growth, there will be a parallel
increase in demand for safe drinking water. Per capita consumption of drinking
water in the coming years is poised to increase with science based evidence
highlighting water’s role in health and wellness. Source:
https://www.reportlinker.com/p05817810/Global-Bottled-Water-Industry.html

Andrew Lindzon, CEO of Dominion Water comments, “we are pleased to have
entered into the Agreement with Aquanor. We have a full end to end strategy
for packaging and distributing this prized and highly specialized water. Fiji
Water became a global iconic brand because of its’ pure and mineral rich
water. We intend to grow North America’s only naturally produced 13 ppm
Silicium waters source in a similar fashion through a health and wellness
theme.”

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.

Certain statements contained in this press release constitute "forward-looking
information" as such term is defined in applicable Canadian securities
legislation. The words "may", "would", "could", "should", "potential", "will",
"seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and
similar expressions indicate such "forward-looking information" as they
relate to DWR. All statements other than statements of historical fact may be
forward-looking information. Such statements reflect DWR's current views and
intentions with respect to future events, and current information available to
DWR, and are subject to certain risks, uncertainties and assumptions. Such
risks and uncertainties include, among others, the risk factors included in
DWR's final long form prospectus dated July 31, 2020, which is available under
the issuer's SEDAR profile at www.sedar.com. Material factors or assumptions
were applied in providing forward-looking information. Many factors could
cause the actual results, performance or achievements that may be expressed or
implied by such forward-looking information to vary from those described
herein should one or more of these risks or uncertainties materialize. Should
any factor affect DWR in an unexpected manner, or should assumptions
underlying the forward-looking information prove incorrect, the actual results
or events may differ materially from the results or events predicted. Any such
forward-looking information is expressly qualified in its entirety by this
cautionary statement. Moreover, DWR does not assume responsibility for the
accuracy or completeness of such forward-looking information. The
forward-looking information included in this press release is made as of the
date of this press release and DWR undertakes no obligation to publicly update
or revise any forward-looking information, other than as required by
applicable law.

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



GlobeNewswire, Inc. 2020
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