- Dominion Water Reserves Corp. (DWR) has completed the final tranche of its $3.35 million non-brokered private placement
- The second tranche included 30,000 Dominion Water units worth $3 million
- Each unit included 1,250 common shares and 125 of its common share purchase warrants
- The proceeds for working capital and general corporate purposes
- Olivier Primeau will take over as President, CEO, and Chairman of Dominion Water
- Dominion Water Reserves Corp. (DWR) is up 22.22 per cent and is trading at $0.11 per share as of 11:37 a.m. ET
Dominion Water Reserves (DWR) has completed the final tranche of its $3.35 million non-brokered private placement.
According to the company, the second tranche included 30,000 of its units to 9474-8431 Quebec Inc. and certain joint parties worth $3 million. Each unit is made up of 1,250 Dominion Water common shares and 125 of its common share purchase warrants.
Each warrant allows the holder to purchase one additional share at an exercise price of $0.08 per share for two years from the closing date. The exercise price of each warrant has been decreased from $0.10 to $0.08 following the initial offering.
Dominion Water stated it will use the proceeds for working capital and general corporate purposes.
Germain Turpin has stepped down from his role as President, CEO, CFO, and Chairman of Dominion Water’s board. Olivier Primeau will now be stepping in as the new President, CEO, and Chairman.
Dominion Water operates out of Quebec, with its primary business being a consolidator of the water industry by acquiring fresh spring water permits and developing operations across the province with plans to expand across North America.
Dominion Water Reserves Corp. (DWR) is up 22.22 per cent and is trading at $0.11 per share as of 11:37 a.m. ET.
