Water Ways Announces Appointment of New Director and Notice to Potential Transfer to NEX

TORONTO, ON / ACCESS Newswire / June 16, 2026 / Water Ways Technologies Inc. (TSXV:WWT) ("Water Ways" or the "Company") announces the appointment of Ms. Mor Boaz to its board of directors (the "Board"), effective June 12, 2026. Ms. Boaz's appointment remains subject to the acceptance of the TSX Venture Exchange (the "TSXV").

Ms. Boaz has been Chief Operating Officer at Exiteam Capital Partners Ltd., an Israeli venture capital and advisory firm, since 2020. In her role, she is responsible for day-to-day financial management, human resources, payroll, investor relations, and CRM systems management. Prior to that, Ms. Boaz managed research and development laboratories at the Technion - Israel Institute of Technology from 2016 to 2020. Ms. Boaz holds a Ph.D. in Nanoscience and Nanotechnology from the Technion (2010-2016).

Following the appointment of Ms. Boaz to the Board, the Board is comprised of Mr. Ohad Haber, Mr. Yehuda Doron and Ms. Mor Boaz. The Company's Audit Committee consists of Mr. Doron (Chair), Mr. Haber and Ms. Boaz. The Board has determined that Mr. Doron and Ms. Boaz are "independent" within the meaning of National Instrument 52-110 - Audit Committees.

Continued Listing Requirements Deficiencies

The Company has failed to meet the criteria for classification as a Tier 1 issuer pursuant to TSXV Policy 2.5 - Continued Listing Requirements ("Policy 2.5"). As a result, the Company's tier classification was downgraded from Tier 1 to Tier 2 effective May 22, 2026. Additionally, the Company has deficiencies in the continued listing requirements ("CLRs") as a Tier 2 Industrial issuer pursuant to TSXV Policy 2.5. These deficiencies relate to the Company's working capital, activity, and assets and operations. As a result, the Company has been placed on a 90-day notice period, to demonstrate compliance with the applicable CLRs, failing which the Company may be transferred to NEX.

As at March 31, 2026, the Company had a working capital deficiency of US$5,718,000. The Company intends to address this deficiency through a restructuring of its operations, including the voluntary assignment in bankruptcy of its former Canadian operating subsidiary, Heartnut Grove WWT Inc., and the ongoing liquidation of its Israeli subsidiary, Irri-Al-Tal Ltd. In addition, the Company is engaging with creditors regarding potential arrangements, including the possible conversion of outstanding indebtedness into equity, and is exploring prospective capital-raising initiatives.

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