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Water Now, Inc. Announces Revised Record Date and Sets Date for Special Meeting of Stockholders for Sale of Substantially All of Its Assets for $30.0 Million

Fort Worth, TX – (NewMediaWire) – September 29, 2020 – Water
Now, Inc. (OTC QB: WTNW)
today
announced that the Special Meeting of Stockholders to, among other things,
approve the sale of substantially all of its assets to RigMax H20, LLC for a
total purchase price of $30.0 million in cash, subject to certain adjustments
and credits, has been set for November 25, 2020. The meeting will be held at 10:00AM
Central time at the offices of the company located at 5000 South Freeway, Suite
110, Fort Worth, Texas 76115. 

Stockholders
of record at the close of business on October 9, 2020 will be entitled to
vote at the Special Meeting.

 

The sale is
subject to certain customary closing conditions and approval from our stockholders.
The transaction is targeted to close on the date of the Special Meeting
of Shareholders.

 

About Water
Now, Inc.

Water Now, Inc. headquartered in Fort
Worth, Texas, is engaged in the business of providing water purification
solutions. For additional information about Water Now, Inc., please visit our website
at http://www.waternowinc.com.

 

Cautionary
Note Regarding Forward-Looking Statements

 

Certain statements contained in this press release,
including, but not limited to, information regarding the anticipated dates for
the closing of the asset sale transaction are forward-looking statements.
Generally, the words “believe,” “may,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “project,” “expect,” “predict” and similar expressions
identify these forward-looking statements.

 

Forward-looking statements are based on management’s
current expectations and estimates. These statements are neither promises nor
guarantees and are made subject to certain risks and uncertainties that could
cause the actual timing of the closing to vary from that stated or implied in
this press release.

 

When
considering forward-looking statements, you should keep in mind the risk
factors and other cautionary statements set forth in Water Now’s Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q and the
other reports that it files with the Securities and Exchange Commission, from
time to time. Except as required under applicable law, Water Now assumes no
obligation to update or revise any forward-looking statements made herein or
any other forward-looking statements made by it, whether as a result of new
information, future events or otherwise.

Important Additional Information and Where to Find It 

In connection with the
proposed transaction, the Company will file relevant materials with the SEC,
including a definitive proxy statement on Schedule 14A. Following the filing of
the definitive proxy statement with the SEC, the Company will mail the definitive
proxy statement and a proxy card to each stockholder entitled to vote at the
special meeting related to the proposed transaction. INVESTORS AND
SECURITY HOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC WHEN SUCH DOCUMENTS BECOME AVAILABLE, BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors
and security holders will be able to obtain the proxy statement and other
relevant materials filed by the Company with the SEC free of charge at the
SEC’s website, www.sec.gov.

Participants in Solicitation 

Water Now, Inc. and its
sole director and executive officer may be deemed to be participants in the
solicitation of proxies in respect of the proposed transaction. Information
concerning Water Now, Inc.’s participants is set forth in the preliminary proxy
statement, as amended, filed August 31, 2020 with the SEC on Schedule 14A.
Additional information regarding the interests of such participants in the
solicitation of proxies in respect of the proposed transaction will be included
in the definitive proxy statement and other relevant materials to be filed with
the SEC when they become available.

Contact

David King,
Chief Executive Officer

Water Now,
Inc.

(817)
900-9184

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