Brand’s Flagship 1-Gallon Expands into 160 More
Stores in the Western United States
The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the
“Company”), the country’s largest independent alkaline water
company and the Clean Beverage® company, will expand the reach of
its flagship product, the Alkaline88 1-Gallon, at the end of March,
with new shelf placement in one of the nation’s largest retailers
in 160 new stores in California, Nevada, Arizona, and Hawaii.
“We’ve hit the bullseye again with the Alkaline88 1-Gallon,”
said Frank Chessman, President and CEO of The Alkaline Water
Company. “After testing in Arizona over the last year in one of the
nation’s largest retailers, we’ve now earned shelf space in their
stores across four states in the Western US and Hawaii starting at
the end of the month. The speed at which we gained this wider
distribution is yet another testament to the strength of the
Alkaline88, the best-selling bulk-sized enhanced water in the
country. As more and more consumers choose the deliciously smooth
taste of Alkaline88, we’re taking aim to further expand
distribution in this major retailer across the United States,
perhaps as early as this fall.”
Company Announces Chairman Transition
The Company announced Chairman Aaron Keay's resignation from the
Board of Directors (the “Board”), effective March 13, 2023. Mr.
Keay, who served as the Company’s Chairman since August 17, 2017,
is stepping down to pursue a new entrepreneurial opportunity he has
founded, alongside a new venture capital/private equity
opportunity.
Current Director and former President and CEO, Frank Lazaran,
will act as non-executive Chairman, effective immediately. The
Company plans to appoint a new independent director in the coming
weeks.
"We thank Aaron for his dedication, leadership, and commitment
to The Alkaline Water Company during his years of service on the
Board," said Mr. Lazaran. "Though it was a difficult decision, we
understand his drive to pursue other business interests that will
require more of his time and energy, and wish him and his family
well in his future endeavors."
"This is a natural transition to appoint Frank Lazaran as
Chairman of the Company, and I cannot think of a better person for
the position,” stated Mr. Keay. “Deciding to step away from the
Company was very difficult due to my long history and passion for
the brand. I have the utmost respect for the Company's
shareholders, employees, partners, and board of directors, and
appreciate everyone's commitment to what I believe is the world's
best-tasting water, Alkaline88.”
The Company remains committed to its Pathway to Profitability
and Alkaline88’s brand success.
About The Alkaline Water Company:
The Alkaline Water Company is the Clean Beverage® company making
a difference in the water you drink and the world we share.
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE:
WTER) is headquartered in Scottsdale, Arizona. Its flagship
product, Alkaline88®, is a leading premier alkaline water brand
available in bulk and single-serve sizes along with eco-friendly
aluminum packaging options. With its innovative, state-of-the-art
proprietary electrolysis process, Alkaline88® delivers perfect 8.8
pH alkaline drinking water with trace minerals and electrolytes and
boasts our trademarked label “Clean Beverage.” In 2021, The
Alkaline Water Company was pleased to welcome Shaquille O’Neal to
its board of advisors and to serve as the celebrity brand
ambassador for Alkaline88®.
To purchase The Alkaline Water Company’s products online, visit
us at www.alkaline88.com.
To learn more about The Alkaline Water Company, please visit
www.thealkalinewaterco.com or connect with us 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, that
the Company is taking aim to further expand distribution in this
major retailer across the United States, perhaps as early as this
fall; that the Company plans to appoint a new independent director
in the coming weeks; and that the Company remains committed to its
Pathway to Profitability and Alkaline88’s brand success. The
material assumptions supporting these forward-looking statements
include, among others, that the Company will be able to find an
eligible candidate for a new independent director in the coming
weeks; that the Company’s cost saving and margin enhancement
measures will be fully implemented and, once implemented, they will
be effective to reduce the Company’s annual expense and enhance the
Company’s margin to the extent anticipated by the Company; that the
Company’s burn rate to reach the level anticipated by the Company
as a result of the Company’s proactive reduction in its monthly
burn rate; that the demand for the Company’s products will continue
to significantly grow; that the past production capacity of the
Company’s co-packing facilities can be maintained or increased;
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 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;
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230314005494/en/
The Alkaline Water Company Inc. Jeff Wright Director of
Investor Relations 866-242-0240
investors@thealkalinewaterco.com
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