To date, Current Water Technologies has raised $2 225 599.80 of the proposed $5 000 000 private placement that was previously announced on 18 December 2017.
The company claims that it is continuing to raise capital at a price of $0.15 per unit. Each unit consists of one common share in the capital stock of the company and a one-half share purchase warrant, which is exercisable for a two-year period from the date of closing. Two purchase warrants entitle the holder to purchase one additional common share at an exercise price of $0.25 per common share.
Current Water Technologies applies its patented and proprietary electrochemical technologies to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, i.e. nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Inc. will operate as a division of the company and will continue to operate as an integrated pump station manufacturer specialising in custom design and automation.