- “I’m looking forward to being a key player in [The Alkaline Water Company’s] continued success,” says O’Neal
- WTER’s Alkaline88(R) continues to be one of the most prominent growing premium functional waters in the category
- Investors believe that Alkaline88 is becoming a household name for premium waters and a go-to brand across America
After initially joining The Alkaline Water Company (CSE: WTER) (NASDAQ: WTER) as an equity partner, board member and marquee brand ambassador for Alkaline88(R), basketball Hall of Famer and entertainment icon Shaquille O’Neal has invested an additional of $1.05 million in the alkaline water company. O’Neal and WTER chairman Aaron Keay made an equal investment in the company (https://cnw.fm/gSZ6P).
“I only invest in companies I believe in and products that I use,” said O’Neal. “Alkaline88 checks both boxes. We’ve got big plans for this company, and I’m looking forward to being a key player in its continued success.”
The company noted that O’Neal and Keay’s investments accounted for more than 40% of the entire nonbrokered private placement, which comprised 4,757,381 subscription receipts sold at $1.05 per receipt; the gross proceeds of the private placement totaled $4,995,250.05. According to the announcement, WTER anticipates using the proceeds to expand production capacity and for use as general working capital.
“Alkaline88 continues to be one of the most prominent growing premium functional waters in the category,” state Keay. “Having just reported another record year, the company could not be better positioned for aggressive growth throughout fiscal 2022 in multiple different sales channels. Leading this financing alongside Shaquille is not only an honor but an aligned testament to both our beliefs that Alkaline88 is becoming a household name for premium waters and a go-to brand across America.”
WTER president and CEO Ricky Wright noted that the company could not have found a better partner for Alkaline88 than O’Neal. “I can’t overstate how business-minded he is about the success of this company, and I believe that this investment emphasizes that point even more,” said Wright. “We’re absolutely thrilled to have him as the face of our company, but even more so to count him as a business partner.”
Founded in 2012, The Alkaline Water Company 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 the company’s trademarked Clean Beverage label.
Recognized as a growing lifestyle brand, Alkaline88 launched A88 Infused(TM) 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.
For more information, visit the company’s websites at www.TheAlkalineWaterCo.com and www.a88CBD.com.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://cnw.fm/WTER
About HempWire
HempWire (HW) is a dedicated information provider focused on (1) aggregating hemp-related news, (2) issuing HempNewsBreaks designed to update investors on the latest developments in the hemp market, (3) enhancing corporate news releases, (4) providing full-service distribution and social media offerings to public and private client-partners and (5) designing and implementing all-inclusive corporate communication solutions. HW is strategically positioned within the rapidly expanding hemp sector with a team of journalists working to help a growing roster of public and private companies reach a wide audience of investors, consumers and members of the media. We leverage a vast network of more than 5,000 key syndication outlets to deliver unparalleled visibility, recognition and content to the hemp industry. HempWire (HW) is where HEMP news, content and information converge.
To receive instant SMS alerts, text HEMPWIRE to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.hempwire.com
Please see full terms of use and disclaimers on the HempWire website applicable to all content provided by HW, wherever published or re-published: https://www.hempwire.com/Disclaimer
Do you have a questions or are you interested in working with HW? Ask our Editor
HempWire (HW)
Denver, Colorado
www.hempwire.com
303.498.7722 Office
Editor@HempWire.net
HempWire is part of the InvestorBrandNetwork.
