The Alkaline Water Company Inc. (TSXV: WTER; OTCQB: WTER)
- The Alkaline Water Company Inc. (TSXV: WTER; OTCQB: WTER) has submitted its application to list its common shares on the NASDAQ Capital Market
- Up-listing could bring significant value to the company
- They also closed a non-brokered private placement financing of 1,619,947 units at a price of CDN$2.50 per Unit for gross proceeds of CDN$4,049,867
is pleased to announce that the Company has submitted its application to list its common shares on the NASDAQ Capital Market (“NASDAQ”). By up-listing to NASDAQ, the Company believes it will gain new exposure and access to a larger base of retail and institutional investors in both the US and internationally. The Company believes that the up-listing will provide a venue to unlock the full value of its existing flagship product, Alkaline88®, and its recently announced new line of infused beverage products being brought to market by its wholly owned subsidiary, A88 Infused Beverage Division, Inc. Management feels strongly that the up-listing will bring significant value to the Company.
The listing of the Company’s common shares on NASDAQ remains subject to the approval of NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company’s common shares will continue to trade on the TSX Venture Exchange and the OTCQB under the ticker symbol WTER until NASDAQ approval and up-listing. The Company fully intends to comply with all federal, state, and local laws, rules and regulations as the Company develops its Hemp derived CBD infused alkaline water and other nutraceutical product lines and will not pursue the production or sale of CBD infused products until legally permitted and all necessary approvals have been obtained. The Company is very cognizant of the restrictions that NASDAQ and the TSX Venture Exchange has implemented on these types of products, and it is expending the necessary resources to ensure it is in full compliance.
In order to meet certain NASDAQ financial requirements, the Company announces that, subject to final regulatory approval, it has arranged and closed a non-brokered private placement financing (the “Financing”) of 1,619,947 units (each, a “Unit”) at a price of CDN$2.50 per Unit for gross proceeds of CDN$4,049,867. Each Unit consists of one share of common stock of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional Share at a price of CDN$2.90 per Share for a period of two years. All securities issued in the Financing are subject to a Canadian hold period expiring January 28, 2019. The Company paid finder's fees of $123,572 and issued 49,428 warrants.
The proceeds of the Financing are expected to be used for expansion of production capacity, acceleration of the new infused beverage products by A88 Infused Beverage Division, Inc., and general working capital, to support the continued growth of our core business generated from our existing customer base, and through the addition of new national retail accounts.
None of the securities to be issued in connection with the Financing will be or have been registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities, in any state where such offer, solicitation or sale would be unlawful.
The Alkaline Water Company Inc. (TSXV and OTCQB: WTER) has developed an innovative, state-of-the-art, proprietary electrolysis process that produces healthy alkaline water for a balanced lifestyle. The Company is focused on the business of distributing and marketing for retail sale of its cost-effectively packaged Alkaline88® water beverage products. Visit: www.thealkalinewaterco.com.
About Alkaline Water Products
Alkaline88®is a premier 8.8 pH balanced bottled alkaline drinking water enhanced with trace minerals and electrolytes. The product offers consumers the unique opportunity to purchase alkaline water in conveniently packaged 500-milliliter, 700-milliliter, 1-liter, 1.5-liter, 3-liter and 1-gallon sizes. The Alkaline Water Company Inc. is currently in the midst of a national mass-market expansion program, where the product is already available for consumer sales at a growing number of major retail locations across many parts of the United States. Learn more about the science behind alkaline water by visiting www.thealkalinewaterco.com.
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