Alkaline88 is now available in aluminium bottles in 500ml sustainable single-serve packaging
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 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.
“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.
Source: Company Press Release