- “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.
NOTE TO INVESTORS: The latest news and updates relating to WTER are available in the company’s newsroom at http://cnw.fm/WTER
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