MONTREAL, Dec. 23, 2020 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp. (“DWR? ? or the “Company”) (CSE: DWR), is pleased to announce the appointment of Mr. Alexandre Côté as a Director of the Company. Mr. Côté joins the Board following the resignation of Mr. Quentin Yarie. The Company would like to thank Mr. Yarie for his contribution to the Company.
Mr. Côté is currently the Managing Director of Hybrid Financial. Prior to co-founding Hybrid Financial, Alexandre Côté was a Managing Director at AXA Canada where he helped create a Guaranteed Investment Funds platform. His team launched one of the first traditional fixed income funds listed in Canada. He also worked as VP of sales at OpenSky Capital, the largest independent marketer of structured products in Canada with over $3 billion in assets. As one of the first employees, he helped establish and develop the company. Mr. Côté started his career at Talvest, where he was responsible for a region with approximately $500 million of AUM. Mr. Cote earned a B.A. in Commerce from Laval University.
In addition, the Company announces that Mr. Andrew Lindzon has stepped down as CEO but will remain as a Director of the Company and will be replaced by Mr. Germain Turpin, a director and the current VP Finance of the Company, who will be the Interim CEO.
Mr. Turpin has 20 Years of experience in the Quebec water industry and in the former owner of two of the assets held by DWR. Germain’s sector knowledge combined with his experience as an operator will be major assets in the marketing and distribution of our renewed international assets, spring water, silicon water (13.2%) and water from the largest esker in Canada.
The Company also wishes to update that it has completed the previously announced transaction with Aquanor Inc. (“Aquanor”) (please see press release dated October 27, 2020) and issued 714,826 common shares, at a deemed issue price of $0.35, to Aquanor as partial consideration for the acquisition of all of the issued and outstanding securities of 11973002 Canada Inc. which owns a 100% interest in the St-Joseph de Coleraine water sources. The shares are subject to a hold period of four months and one day.
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. A strong governance structure is in place to ensure that the corporation carries out its business responsibly, applying the highest social and environmental standards.
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SOURCE: Dominion Water Reserves Corp.
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