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Rainmaker Worldwide Inc. (RAKR)

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0.1060+0.0071 (+7.18%)
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Neutralpattern detected
Previous Close0.0989
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0981 - 0.1060
52 Week Range0.0611 - 0.7411
Avg. Volume385,558
Market Cap494,421
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Rainmaker Worldwide Inc. Announced Today the Signing of a Joint Venture With the Carlaw Group Ltd. to Provide Water to Kenya, Senegal, Sierra Leone and Togo

    Peterborough, Canada, Oct. 08, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Rainmaker Worldwide Inc. (OTC: RAKR) today announced a Joint Venture (“JV”) with the Carlaw Group Ltd. (“Carlaw”) to address the severe water crises across Africa. Carlaw and partners have been operating mission critical infrastructure projects in Africa since 2006.  This expertise will complement Rainmaker as it deploys its innovative Air-to-Water technology to bring water on-demand to communities lacking access to environmentally safe drinking water. The partnership will distribute this water through a proposed water distribution agreement within the mining and construction sectors as well as through a bottled water operation using Rainmaker’s hybrid energy Air-to-Water solutions.  The partnership once fully deployed could reach USD $50 Million annually.The JV will establish a subsidiary in Africa with a 51%/49% ownership Rainmaker/Carlaw that will implement Water-as-a-Service (WaaS) solutions in Kenya, Senegal, Sierra Leone and Togo.  It will establish an urban initiative to work closely with the private sector and global humanitarian organizations to identify the areas experiencing severe water scarcity and then define appropriate and innovative solutions.Rainmaker CEO Michael Skinner stated, “The agreement to supply our decentralized water solutions with our partner the Carlaw Group is another example of how Rainmaker’s technology can provide cost-effective water on-demand on an industrial scale to the world’s most water-scarce regions. Carlaw’s extensive relationships and working experience throughout Africa gives us direct access to critical infrastructure partners and industrial sectors to deliver massive offtake opportunities for our Water-as-a-Service solutions.”According to the World Health Organization (WHO), “2.2 billion people around the world do not have safely managed drinking water. Safe and readily available water is important for public health, whether it is used for drinking, domestic use, food production or recreational purposes.” Non-profit organization, Water.org affirms, “The water crisis is a health crisis. Nearly 1 million people die each year from water, sanitation and hygiene-related diseases.” Global access to safe, clean drinking water would not only drastically improve the health of millions, but according to WHO, it would also be a massive contributor to poverty reduction and economic growth.However, access to fresh water is not enough; Rainmaker understands that there is much more involved in delivering a modern clean water solution. In using Air-to-Water units, water produced is environmentally and socially sustainable, meaning it’s free of chemicals with zero to small carbon footprints. Rainmaker’s urban initiative will provide an approach to clean water and save lives.Carlaw Group Ltd.’s Director Perry Kotsopoulos says, “The global water crisis has a crippling effect on social and economic conditions throughout Africa. It will continue to devastate under-served and struggling communities’ access to an essential human right – clean water. The Carlaw Group is committed to working with Rainmaker to deliver innovative channels of distribution allowing for quick access to such a critical resource.” About Rainmaker Worldwide Inc.Rainmaker Worldwide Inc. (OTC: RAKR) is a leader in technology that produces clean, affordable water. Headquartered in Peterborough, Canada, with an innovation and manufacturing center in Rotterdam, Netherlands, the Company’s patented water technology provides economical drinking water at scale wherever it’s needed. On July 15, 2020, Rainmaker announced a merger agreement with Sphere 3D, expected to close by the end of 2020 pending on customary regulatory and shareholder approvals. This acquisition presents tremendous growth opportunity providing additional access to capital markets to help solve the global water crisis on a greater scale. Rainmaker Worldwide Inc. was recognized as the Best Community Impact Water Solutions Global 2020 by Capital Finance International.  For more information about Rainmaker, visit www.rainmakerww.com.About the Carlaw Group Ltd.Carlaw Group Ltd. is ideally placed to serve our investment partners by offering in-depth market knowledge and extensive experience throughout the African continent. Our management teams 20 years of experiences operating in the region providing critical insights for Africa-based transactions, particularly in natural resources. Our in-depth knowledge of legal, economic and political issues in unique transactional and public policy combination to help clients achieve their Africa business strategies. Successfully investing in Africa requires a keen ability to quantify and mitigate not only financial risk, but also legal and political risk. Indeed, often the hardest risks to quantify – the risks most likely to prevent financing – are those largely controlled by a government. Our ability to strategically engage the public policy mechanism, in concert with our legal expertise, helps clients successfully enter markets, overcome challenges while operating there, and protect and grow their investments – something few other firms can offer.  With our team of dedicated lawyers and key members throughout the continent, we support our partners across a range of industry sectors to successfully execute African inbound investment from all major markets.Forward-looking StatementsCertain 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’s 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 ContactsThe Blueshirt Group Whitney Kukulka Managing Director +1 (415) 489-2188 investors@rainmakerww.comRainmaker Worldwide Inc. Michael Skinner Chief Executive Officer +1 (705) 201-1020 info@rainmakerww.com

  • Newsfile

    Rainmaker Worldwide And Sphere 3D Are Taking Advantage Of An Ocean of Opportunity; Technology Can Generate Fresh Water For Millions

    New York, New York--(Newsfile Corp. - October 1, 2020) - Many companies set out to change the world. But other than having a catchy phrase in their tagline, few actually rise to the challenge. One company, though, Rainmaker Worldwide (OTC: RAKR), can make a difference. And, they are embarking on a mission that can not only change the world but can save potentially millions of lives in the process by producing almost limitless amounts ...

  • GlobeNewswire

    Sphere 3D Announces Developments in Rainmaker Merger

    Companies Adjust Merger Exchange Ratio to Better Reflect Current Market Valuations Sphere 3D enters into SPA for investment of $3 million Sphere 3D to provide funding to Rainmaker to sustain Rainmaker Growth InitiativesToronto and Peterborough, Ontario, Sept. 14, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sphere 3D Corp. (NASDAQ: ANY) (“Sphere 3D” or “the Company”) today announced a number of developments to the Rainmaker Merger.Sphere 3D and Rainmaker Worldwide Inc. (OTC: RAKR) (“Rainmaker”) previously announced that they entered into a definitive merger agreement dated July 14, 2020, (the “Merger Agreement”) by and among Rainmaker, Sphere 3D and its wholly-owned subsidiary, S3D Nevada Inc., pursuant to which Sphere 3D will acquire all of the outstanding securities of Rainmaker. Sphere 3D announces that the Merger Agreement has been amended to change the ratio of Sphere 3D stock to be received by Rainmaker shareholders (the “Amendment”).  This change is intended to better reflect the current market values of the respective companies. At closing, holders of Rainmaker common shares and holders of Rainmaker preferred shares will each receive 1/15th of a share of Sphere 3D per common or preferred share that they hold, respectively, which is an adjustment from the prior exchange ratio of 1/3rd. As part of the Amendment, Sphere 3D has also agreed to advance US$1.85 million to Rainmaker by way of a secured convertible note (the “Note”) in order for Rainmaker to sustain multiple growth initiatives.  In particular, the funds will be used to fulfill recent contracts and expand its equipment production capacity.  Rainmaker uses its patented water production technology to supply clean, safe potable water to customers around the world under multi-year, recurring revenue Water-as-a-Service (“WaaS”) contracts.Rainmaker CEO Michael Skinner commented, “Rainmaker is building significant business momentum as potential customers come to understand the economic and social benefits of our WaaS offering, versus traditional and expensive water delivery options.  Our upcoming merger with Sphere 3D is intended to give us the access to capital necessary to fund anticipated rapid growth.  As we work toward closing the merger, this advance will enable us to avoid any interruptions in our many marketing and production efforts.”Sphere 3D CEO Peter Tassiopoulos commented, “We are excited about the transformation about to happen at Sphere 3D.  Together with Rainmaker, we intend to create meaningful value while performing the meaningful work of supplying affordable water to some of the most challenging regions on earth.  This advance enables Rainmaker to sustain its momentum as we move toward closing the merger.  Meanwhile, the new exchange ratio better reflects the value built by Sphere 3D over the years, which is demonstrated in our market valuation.”Sphere 3D also reports it has entered into a stock purchase agreement (“SPA”) with an institutional investor for the issuance of US$3 million of convertible preferred shares. Under the SPA, Sphere 3D will issue 3,000 shares of Series E Convertible Preferred Stock (the “Series E Preferred Stock”), each share having a stated value of US$1,000, for gross proceeds of US$3 million.  The Series E Preferred Stock is convertible into common shares at a conversion price equal to the lower of (1) 80% of the average of the three (3) lowest VWAPs of the common stock during the ten (10) trading days immediately preceding, but not including, the conversion date and (2) US$2.00; however, in no event shall the conversion price be lower than US$1.00 per share.   The Series E Preferred Stock accrues dividends at a rate of 8% per annum, and does not have voting rights. The offer and sale of the securities by Sphere 3D in the above transaction have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and have not been registered or qualified under any state securities laws, and therefore may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from such registration requirements, and registration or qualification and under applicable state securities or “Blue Sky” laws or an applicable exemption from such registration or qualification requirements.This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.For more details of the Amendment, the SPA and the Note, including the agreements themselves, see Sphere 3D’s Current Report on Form 8-k to be filed with the SEC within the applicable required time period. The closing of the Merger is subject to the approval of the respective shareholders of Sphere 3D and Rainmaker and approval of the NASDAQ Stock Market.About Sphere 3DSphere 3D Corp. (NASDAQ: ANY) delivers containerization, virtualization, and data management solutions via hybrid cloud, cloud and on-premise implementations through its global reseller network and professional services organization.  Sphere 3D has a portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer® dedicated to helping customers achieve their IT goals.  For more information, visit www.sphere3d.com.  Follow us on Twitter @Sphere3D and @HVEconneXions.About Rainmaker WorldwideRainmaker Worldwide Inc. (OTC: RAKR) is a leader in technology for the production of clean, affordable water.  Headquartered in Peterborough, Canada, with an innovation and manufacturing center in Rotterdam, Netherlands, the Company’s patented water technology provides economical drinking water at scale wherever it’s needed.  Rainmaker’s goal is to be a global leader in solving the worldwide water crisis.  For more information about Rainmaker, visit www.rainmakerww.com.Safe Harbor StatementThis press release contains forward-looking statements that involve risks, uncertainties, and assumptions that are difficult to predict. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties including, without limitation, inability to obtain additional debt or equity financing; any increase in cash needs; Sphere 3D’s ability to maintain listing with the NASDAQ Capital Market; market adoption and performance of products; the level of success of collaborations and business partnerships; possible actions by customers, partners, suppliers, competitors or regulatory authorities; and other risks detailed from time to time in our periodic reports contained in filings with Canadian securities regulators (www.sedar.com) and the United States Securities and Exchange Commission (www.sec.gov).  Both Sphere 3D and Rainmaker undertake no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.Investor ContactsWhitney Kukulka Managing Director +1 (415) 489-2188 investors@rainmakerww.com Sphere 3D Kurt Kalbfleisch Chief Financial Officer +1 (858) 495-4211 Investor.relations@sphere3d.comRainmaker Worldwide Inc. Michael Skinner Chief Executive Officer +1 (705) 201-1020 info@rainmakerww.com