Globe Newswire 16-Jan-2020 8:00 AM
SCOTTSDALE, Ariz., Jan. 16, 2020 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) (the "Company"), a producer of premium bottled alkaline and flavored water sold under the brand names Alkaline88® and A88™, respectively today announced that its flagship brand Alkaline88® is now available in aluminum bottles in 500ml sustainable single-serve packaging.
"We are very pleased to announce our new, environmentally friendly, and truly sustainable aluminum bottle for our flagship brand, Alkaline88®. Consumers are demanding more eco-friendly choices and we are excited to now offer a refillable, resealable, and 100% recyclable option. This is yet another step that the company is taking toward a more renewable future and we remain committed to providing smarter and innovative packaging solutions for the environmentally-conscious consumer," stated Richard A Wright, President and Chief Executive Officer of The Alkaline Water Company.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5bfb1d80-5e9a-4aa2-af0a-b5ae859f8cfb
"Alkaline88 is a brand that has been built and grown substantially behind creativity, innovation, and adapting to consumer demands as demonstrated by the extremely successful launch of our flavor infused products in 2019 and soon to be available CBD product lines," stated Aaron Keay, Chairman of the Board of Directors of the Alkaline Water Company. "When initially launched, the Alkaline88 brand was a pioneer in providing bulk premium water in the large bottle formats and has since leveraged our strong and growing brand into additional product lines. We are excited to add our new environmentally friendly packaging option for our loyal consumers and expect the launch to be a successful portfolio addition."
The Company, since the beginning of calendar 2019, has aggressively extended its product line from primarily the bulk water category into several new SKUs while driving innovation in both the product category and packaging formats. This has enabled the Company to effectively execute on it stated strategy of national expansion and reach into new trade channels. The introduction of eco-friendly aluminum bottles will further accelerate these efforts, especially as the Company continues its aggressive push into the convenience store market which has a large emphasis on innovative canned products.
Separately, effective as of January 13, 2020, the Company issued 1,500,000 shares of its restricted common stock to Richard A. Wright, the Company's president, chief executive officer, and director, upon conversion of his 1,500,000 shares of its Series C Preferred Stock. These shares are subject to the resale restrictions under applicable securities laws and the Company's insider trading policy.
"I originally was issued my Series C Preferred Stock in March 2016, and they became convertible to common stock upon the Company reaching $15,000,000 in annual sales – which occurred as of December 31, 2017. Since all other shares of Series C Preferred Stock in the Company have already been converted, I have decided to convert mine at this time to simplify our capitalization structure," remarked Richard A. Wright. "I have never been more excited about the prospects of the Company and the growth trajectory we are on. As such, I have no intention of selling these shares and this conversion is merely a step toward simplifying the Company's capitalization as well as my personal holdings."
The Company intends to comply in full with all federal, state, and local laws, rules and regulations as the Company develops its CBD-infused products. The Company will not pursue the commercial production or sale of CBD-infused products until legally permitted. The Company is closely watching and responding to all regulatory developments within the FDA and in each individual U.S. state, and plans to launch its CBD infused products accordingly.
About The Alkaline Water Company Inc.
The Alkaline Water Company Inc. (TSXV:WTER) is a producer of premium bottled alkaline and flavored water sold under the brand names Alkaline88® and A88™, respectively. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88® delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes. The Company recently announced a broad line of CBD infused products, which include ingestibles and topical products. For its ingestibles line, the A88™ Infused Beverage Division Inc. produces CBD infused drinks, beverage shots, tinctures, capsules, and powder packs. For its topicals line, A88™ Infused Products Inc. produces salves, balms, lotions, essential oils, and bath-salt all made with lab-tested full-spectrum hemp. The Alkaline Water Company Inc. is currently pursuing a national multi-channel, mass-market expansion strategy with a direct-to-warehouse model and co-packaging facilities that are strategically located 600 miles within 95% of the U.S. population. Founded in 2012, the Company is headquartered in Scottsdale, Arizona. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect on Facebook, Twitter, Instagram or LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the following: that the new aluminum bottles will be commercially available beginning February,2020; the statement relating to soon to be available CBD product lines; that the launch of eco-friendly aluminum bottle is expected to be a successful portfolio addition; and that the introduction of eco-friendly aluminum bottles will further accelerate the Company's efforts relating to national expansion new trade channels.
The material assumptions supporting these forward-looking statements include, among others, that the demand for the Company's products will continue to grow significantly; that the past production capacity of the Company's co-packing facilities can be maintained or increased; that the Company will receive all necessary regulatory approvals for the production and sale of CBD-infused products; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company's products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new e-commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company's products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company's products; and that the Company will be able to obtain additional capital to meet the Company's growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of alkaline water or any other products, including products containing hemp/CBD; the fact that consumers may not embrace and purchase any of the Company's CBD-infused products; the fact that the Company may not be permitted by the FDA or other regulatory authority to market or sell any of its CBD-infused products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company's sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the fact that the Company has a limited number of suppliers of its unique bulk bottles; the potential for supply-chain interruption due to factors beyond the Company's control; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company's ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.
The Alkaline Water Company Inc.
Richard A. Wright
President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.