Current Water Announces Second Quarter 2024 Financial Results Via Investing.com

GUELPH, Ontario, Aug. 29, 2024 (GLOBE NEWSWIRE) — Current Water Technologies Inc. (TSX-V: WATR) (“CWTI“or”Company“or”Organization“), released its financial results for the three months ended June 30, 2024. A copy of the Company's consolidated financial statements and accompanying management discussion and analysis (MD&A) is available under the Company's profile at www.sedarplus.ca. otherwise, all dollar amounts are expressed in Canadian dollars.

Financial highlights for the second quarter 2024

• Revenue was $481,225, compared to $691,791 in the corresponding period in 2023.
• Operating expenses were $517,478, compared to $555,463 in the corresponding period in 2023.
• Gross Profit was $36,252, compared to $136,328 in the corresponding period in 2023.
• Revenue for the six months ended June 30, 2024 was $1,349,804, compared to $1,694,071 for the corresponding period in 2023.
• Operating expenses for the six months ended June 30, 2024 were $1,288,711, compared to $1,228,667 for the corresponding period in 2023.

TSX Venture Exchange Inc. or Legal Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.

About Current Water Technologies Inc.

Current Water Technology is a Technology Company that uses its patented and proprietary Electrochemical Technologies to treat wastewater, desalination water and drinking water contaminated with metals or nutrients, ie, nitrate/ammonia associated with mining, metal processing, chemical, agricultural, municipal and waste management. sectors. Pumptronics Incorporated operates as a subsidiary of the Company and continues to operate as an integrated pump station manufacturer specializing in custom design and automation.

The common shares trade on Tier ll of the TSX Venture Exchange under the symbol WATR.

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

FOR MORE INFORMATION PLEASE CONTACT:

Dr. Gene S. Shelp, Ph.D., P.Geo.
President and CEO

Phone: (519) 836-6155
Fax: (519) 836-5683
Email: gshelp@currentwatertechnologies.com
Website: www.currentwatertechnologies.com

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that could affect the results of Current Water Technologies Inc. they differ in terms of expectations. This includes risks related to market volatility, property performance and other risks. These forward-looking statements speak only as of the date hereof. Certain statements contained in this press release and certain documents incorporated by reference in this press release constitute forward-looking statements. The use of any of the words “expect”, “continue”, “estimate”, “anticipate”, “may”, “will”, “project”, “should”, “believe” and “assume” and similar expressions intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those anticipated in such forward-looking statements. Current Water believes that the expectations expressed in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be accurate and such forward-looking statements are incorporated into, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of the press release. Current Water undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: Current Water Technologies Inc.