Dominion Water Reserves Acquisition
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MONTREAL, April 08, 2021 (GLOBE NEWSWIRE) — Dominion Water Reserves Corp. (“DWR” or the “Company”) (CSE: DWR), is pleased to announce that it has closed the acquisition of a 100% interest in the Source Saint-Siméon water rights located in the Province of Québec, through the acquisition (the “Acquisition”) of all the issued and outstanding shares of Société Alto 2000 Inc. in consideration of the issuance of 3,000,000 common shares (each a “Share”) of the Corporation at a deemed price of $0.105 per Shares.
Germain Turpin, President CEO of the Corporation, said, “I am pleased with the completion of this acquisition which allows us to consolidate our capacity and an increased presence in Quebec.”
All Shares issued pursuant to the Acquisition will be subject to a four month and one day hold period.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
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.
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Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the expected proceeds of the Offering, the completion of the Offering including the timing thereof, and the intended use of proceeds. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. 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.