Forward Water Technologies Reports Financial Results for September 2024

Forward Water Technologies Corp. (FWTC) has released its interim financial statements and management's discussion for the nine months ending September 30, 2024. These documents are accessible on the company's profile at sedarplus.ca. All financial figures are reported in Canadian dollars.

FWTC completed a business combination with Fraser Mackenzie Accelerator Corp. (FMAC). Following this transaction, FMAC shareholders have a controlling interest in FWTC, leading to its accounting as a reverse acquisition. Consequently, the financial results reflect FMAC's status as the acquirer.

CEO C. Howie Honeyman emphasized the transaction's role in expanding FWTC's commercial efforts, especially in lithium brine processing. The new board members are expected to enhance FWTC's financial expertise.