The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the
“Company”), is a producer of premium bottled alkaline water and
flavor-infused waters products sold under the brand names
Alkaline88® and A88 Infused™, respectively. Today, the Company
announced that it is partnering with Hensley Beverage Company, a
local Direct Store Delivery (DSD), to distribute its beverage
brands across Arizona.
“We are pleased to announce we have entered into an agreement
with Hensley Beverage Company, an Anheuser-Busch InBev distributor.
Hensley is one of the largest and most respected family-owned
beverage distributors in the nation. They service all of Arizona,
and its customer base includes over 9,000 retail locations. Under
this agreement, Hensley will carry the full line of our smooth
tasting Alkaline88 water portfolio and our A88 Infused flavored
waters,” stated Ricky Wright, President and CEO of The Alkaline
Water Company.
“This will be the first time in a major market that the Company
has adopted a direct store distribution (DSD) model for its entire
Alkaline88 line. It’s long been established in the beverage
industry that growing brands can increase sales by a factor 2-3
times their current baseline by partnering with premier DSD
providers. With our brands now available in over 70,000 retail
locations and a robust portfolio of beverages, we believe our
timing is perfect for taking this next step in expanding our sales
efforts. As we pursue our growth strategies in 2021, adding other
premier beverage distributors in other key U.S. markets will allow
us to continue to be one of the fastest-growing beverage companies
in the U.S.”
“Hensley is excited to partner with The Alkaline Water Company
to distribute the Alkaline88 portfolio across the state of Arizona.
Alkaline88 has a great presence in the marketplace, and we look
forward to working together to drive the brand’s growth across all
retail channels. As an Arizona-based company, we look forward to
collaborating with another Arizona-based organization,” stated Nate
Dworkin, Vice President Brand Management of Hensley Beverage
Company.
Hensley Beverage
Hensley Beverage Company is a multi-generational, family-owned,
local Arizona beverage wholesaler that distributes a diverse and
first-rate portfolio of beverages, including Anheuser-Busch InBev
beers, top selling local and regional craft beers, premium
non-alcohol beverages, water, soda, tea, wine, and spirits. Hensley
maintains a proprietary service fleet of more than 800 vehicles and
has the support of over 1,100 employees, servicing a customer base
of more than 9,000 retail accounts throughout Arizona from multiple
state-wide branches. With corporate headquarters located in
Phoenix, Hensley also has fully operational controlled environment
warehouse space in five different locations across Arizona,
including Tucson, Flagstaff, Prescott Valley, Chandler, and Show
Low. As a result of its focus on core competencies of service,
integrity, and quality products, Hensley has been recognized
locally and nationally as a leader in the community and the
beverage industry.
At-The-Market Equity Offering
The Company also announces, subject to regulatory approval, that
it has filed a prospectus supplement with the Securities and
Exchange Commission (“SEC”), pursuant to which it may offer
and sell shares of its common stock (the “Shares”) having an
aggregate offering price of up to $20,000,000 from time to time
through an “at-the-market” equity offering program (the “ATM
Program”). The Company currently intends to use the net
proceeds from any sales of the Shares under the ATM Program for
general corporate purposes which may include repayment of
indebtedness, increasing our working capital or capital
expenditures. The timing of any sales will depend on a variety of
factors.
The Shares will be offered through Roth Capital Partners as the
sole sales agent. Roth may sell Shares by any method permitted by
law deemed to be an “at-the-market offering” as defined in Rule 415
of the Securities Act of 1933, as amended, by means of ordinary
brokers’ transactions on the Nasdaq Stock Market and such other
sales as agreed upon by the Company and Roth. Sales may be made at
market prices prevailing at the time of the sale, at prices related
to prevailing market prices or at negotiated prices and, as a
result, sales prices may vary. No sales of Shares will be made in
Canada, to anyone known by Roth Capital Partners to be a resident
of Canada or over or through the facilities of the Canadian
Securities Exchange. Under the terms of the sales agreement entered
into between the Company and Roth Capital Partners, Roth will be
entitled to a commission at a fixed rate of 3.0% of the gross
proceeds from each sale of Shares under the agreement.
The Alkaline Water Company
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 balanced alkaline drinking water with trace minerals and
electrolytes and boasts our trademarked label ‘Clean Beverage.’
Quickly being recognized as a growing lifestyle brand, Alkaline88®
launched A88 Infused™ in 2019 to meet consumer demand for
flavor-infused products. A88 Infused™ flavored water is available
in six unique all-natural flavors, with new flavors coming soon.
Additionally, in 2020, the Company launched A88 Infused Beverage
Division Inc., which includes the Company’s flavor-infused
water.
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, the
following: that the Company can increase its sales by a factor 2-3
times its current baseline by partnering with a premier DSD
provider like the Hensley Beverage Company and that by the Company
adding other premier beverage distributors in other key U.S.
markets, it will allow the Company to continue to be one of the
fastest-growing beverage companies in the U.S.
The material assumptions supporting these forward-looking
statements include, among others, 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 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; 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210223005404/en/
The Alkaline Water Company Inc.
Richard A. Wright President and CEO, or
Sajid Daudi Director of Investor Relations & Corporate
Communications 800-923-1910 investors@thealkalinewaterco.com
Media
Jessica Starman 888-461-2233 jessica@elev8newmedia.com
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