Rainmaker Worldwide Completes SEC Filing Process in Preparation for OTCQB Up-List Application

Rhea-AI Summary

Rainmaker Worldwide Inc. (OTC: RAKR) announced that the SEC completed its review of the Company’s Registration Statement on Form 10 on October 17, allowing it to apply for up-listing to the OTCQB®. To meet the OTCQB® requirements, RAKR is securing two independent Board members and has audited its 2019 and 2020 financials. The company is advancing water solutions projects stalled by COVID-19, with Air-to-Water and Water-to-Water machines heading to Canada for testing. CEO Michael O’Connor emphasized the importance of this transition for accessing capital to combat global water scarcity.

Positive

• Completion of SEC review for Form 10, allowing OTCQB® application.
• Plans to secure independent Board members and complete financial audits.
• Advancements in water solution projects that address global scarcity.
• Transition to OTCQB® could improve access to capital.

Negative

• None.

Peterborough, Canada, Oct. 20, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Rainmaker Worldwide Inc. (OTC: RAKR) (the “Company”, “Rainmaker” or “RAKR”) announced today that the Securities and Exchange Commission (the “SEC”) completed its review of the Company’s Registration Statement on Form 10 on October 17th and is now preparing its application to up-list to the OTCQB®.

To comply with OTCQB® listing requirements RAKR is currently securing a minimum of two independent members to its Board of Directors, has completed the audit of its 2019 and 2020 financial statements, and is adhering to all other reporting obligations. Although there is no assurance that OTC Markets will approve Rainmaker’s OTCQB® application, if successful the Company will be positioned to access capital from sources currently unable to support companies traded on OTC PINK.

“We are one step closer to gaining wider access to efficient capital,” said Rainmaker CEO Michael O’Connor. “Rainmaker is thrilled to share this development with our current and future shareholders, and we will continue delivering the highest level of transparency.”

While Rainmaker prepares for its OTCQB® application, the Company is fiercely dedicated to fulfilling previously announced projects including those in the Caribbean and North Africa that were stalled as a result of the global pandemic. As of today, two full size Air-to-Water (“AW”) and Water-to-Water (“WW”) machines are in transit to Canada for JV partners to test and conduct training on the equipment. The units will also be used to showcase water production to multiple groups who have demonstrated considerable interest in Rainmaker solutions. The AW and WW machines are ultimately expected to be deployed to project sites by early 2022.

Water scarcity, a worldwide crisis affecting more than 2.2 billion people, has been enormously exacerbated by COVID-19. Over the last year, RAKR and its affiliated entity Rainmaker Holland B.V. have been expanding its inventory of water technologies to provide a greater selection of clean water solutions, an approach Rainmaker believes will have the most significant impact in eliminating a higher quantity of water scarcity crises.

Mr. O’Connor stated, “Rainmaker is prepared to tackle more water emergencies as global supply chains, transport and travel resumes a level of pre-pandemic normalcy. Our goal of a successful transition to OTCQB® would ultimately equip Rainmaker with the resources to deliver clean water on a grander scale.”

About Rainmaker Worldwide Inc.

Rainmaker Worldwide Inc. (OTC: RAKR) is a leader in affordable water solutions through a Water-as-a-Service business model. RAKR is headquartered in Peterborough, Canada. The Company provides economical drinking water at scale wherever it is needed. Rainmaker was recognized as the Best Community Impact Water Solutions Global 2020 by Capital Finance International.  For latest product information and FAQ’s please visit www.rainmakerww.com.

Forward-looking Statements:

Certain matters discussed in this announcement contain statements, estimates and projections about the growth of Rainmaker’s business, potential distribution partnerships and/or clients, and related business strategy. Such statements estimates and projections may constitute forward-looking statements within the meaning of the federal securities laws. Factors or events that could cause our actual results to differ may emerge from time-to-time. Rainmaker undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The recipient of this information is cautioned not to place undue reliance on forward-looking statements.

Investor Contact
Rainmaker Worldwide Inc.
Michael O’Connor
Executive Chairman and Chief Executive Officer
info@rainmakerww.com

FAQ

What is the significance of Rainmaker's SEC review completion for RAKR?

The SEC's review completion enables Rainmaker to apply for up-listing to the OTCQB®, which could enhance access to capital.

What steps is RAKR taking to meet OTCQB® listing requirements?

RAKR is securing two independent Board members and has completed audits of its 2019 and 2020 financial statements.

How is Rainmaker addressing water scarcity issues?

Rainmaker is advancing projects with Air-to-Water and Water-to-Water machines to provide clean water solutions to affected regions.

When are the water machines expected to be deployed?

The Air-to-Water and Water-to-Water machines are expected to be deployed to project sites by early 2022.

What does the transition to OTCQB® mean for Rainmaker shareholders?

Successful transition to OTCQB® may provide Rainmaker with more resources to address global water scarcity issues efficiently.