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

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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: [email protected]

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