Water Methods Experiences Q1 2024 Monetary Outcomes: Gross sales of CAD$2.3M and Web Lack of CAD$0.2M

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TORONTO, Might 31, 2024 (GLOBE NEWSWIRE) — Water Methods Applied sciences Inc. (TSXV: WWT) (FRA: WWT) (“Water Methods” or the “Firm“), a world supplier of Israeli-based agriculture expertise, offering water irrigation options to agricultural producers, proclaims the submitting of its Interim Monetary Statements (the “Statements“) and Managements Dialogue and Evaluation (the “MD&A“) for the three months interval ended March 31, 2024. A complete dialogue of Water Methods’ monetary place and outcomes of operations is supplied within the MD&A, filed on SEDAR (www.sedar.com)

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Mr. Ohad Haber, CEO and Chairman of the Board of Water Methods states: “The primary quarter of 2024 reveals the shift in our technique. Over 90% of our revenues had been derived from the Canadian market. Within the coming months we additionally hope to extend our venture income in Canada and enhance our margins.”

Highlights – Q1, 2024 (the next data ought to be learn along with, and is certified by, the Statements and the MD&A)

• Firm’s gross sales had been CAD$2.3M for the three months interval ended March 31, 2024, in comparison with CAD$4.1M for 3 months interval ended March 31, 2023.
• Firm’s web loss was CAD$0.2M for the three months interval ended March 31, 2024, in comparison with a web revenue of CAD$0.4M within the three months interval ended March 31, 2023.
• Firm’s Gross Margin was 17.3% for the three months interval ended March 31, 2024, in comparison with a Gross Margin of 21.5% within the three months interval ended March 31, 2023.
• Spinoff Legal responsibility – Warrants and Convertible Debentures pertains to a classification beneath IFRS of excellent warrants issued as a part of non-public placements of Convertible Debentures items and fairness items which closed within the fiscal yr 2021, 2022 and 2023, as a non-cash legal responsibility that arises as a result of distinction in operational foreign money and useful foreign money. This legal responsibility is revalued every interval by an unbiased third social gathering. The revaluation is at honest worth by way of revenue and loss.

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Water Methods Applied sciences Monetary Outcomes Abstract (CAD$ in 1000’s)

The next tables set forth the highlights of the consolidated monetary data of the Firm and ought to be learn along with the Statements and the notes thereto.

About Water Methods Applied sciences Inc.
WWT by way of its subsidiaries, is a world supplier of Israeli-based agriculture expertise, offering water irrigation options to agricultural producers. WWT competes within the world irrigation water programs market with a deal with creating options with industrial functions within the micro and precision irrigation segments of the general market. At current, WWT’s essential income streams are derived from the next enterprise items: (i) Initiatives Enterprise Unit; and (ii) Element and Tools Gross sales Unit. WWT is capitalizing on the alternatives introduced by micro and sensible irrigation, whereas additionally making a constructive mark on society by making these applied sciences extra broadly accessible, particularly in creating markets corresponding to Africa and Latin America and developed markets corresponding to China and Canada. WWT’s irrigation initiatives embrace vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Hashish growers, contemporary produce cooling rooms and extra, in over fifteen international locations.

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For extra data, please contact

Ronnie Jaegermann
Director
T: +972-54-4202054
E: ronnie@waterwt.com

https://www.water-ways-technologies.com/

https://www.hg-wwt.com/

Twitter: @WaterWaysTechn1

Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.

Ahead-Wanting Statements
Sure statements contained on this press launch represent “forward-looking data” as such time period is outlined in relevant Canadian securities laws. The phrases “might”, “would”, “might”, “ought to”, “potential”, “will”, “search”, “intend”, “plan”, “anticipate”, “imagine”, “estimate”, “count on” and related expressions as they relate to Water Methods. All statements apart from statements of historic reality could also be forward-looking data. Such statements mirror Water Methods’ present views and intentions with respect to future occasions, and present data accessible to Water Methods, and are topic to sure dangers, uncertainties and assumptions. Materials components or assumptions had been utilized in offering forward-looking data. Many components might trigger the precise outcomes, efficiency or achievements which may be expressed or implied by such forward-looking data to fluctuate from these described herein ought to a number of of those dangers or uncertainties materialize. Ought to any issue have an effect on Water Methods in an surprising method, or ought to assumptions underlying the forward-looking data show incorrect, the precise outcomes or occasions might differ materially from the outcomes or occasions predicted. Any such forward-looking data is expressly certified in its entirety by this cautionary assertion. Furthermore, Water Methods doesn’t assume duty for the accuracy or completeness of such forward-looking data. The forward-looking data included on this press launch is made as of the date of this press launch and Water Methods undertakes no obligation to publicly replace or revise any forward-looking data, apart from as required by relevant legislation. Water Methods’ outcomes and forward-looking data and calculations could also be affected by fluctuations in alternate charges and its personal share costs. All figures are in Canadian {dollars} except in any other case indicated.

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