UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 11, 2018
THE ALKALINE WATER COMPANY
INC.
Exact name of registrant as specified in its
charter)
Nevada | 000-55096 | EIN 99-0367049 |
(State or other jurisdiction | (Commission | (IRS Employer |
of incorporation) | File Number) | Identification No.) |
14646 N. Kierland Blvd., Suite 255
Scottsdale,
Arizona 85254
(Address of principal executive offices and Zip
Code)
Registrants telephone number, including area code: (480) 656-2423
Not Applicable
(Former name or former
address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).
Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item 2.02 Results of Operations and Financial Condition.
A copy of our news release dated July 11, 2018, announcing certain financial results of our company for the quarter ended June 30, 2018 is being furnished herewith as Exhibit 99.1
In accordance with General Instruction B.2 of Form 8-K, the information in this current report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 | News Release dated July 11, 2018 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE ALKALINE WATER COMPANY INC. | |
/s/ Richard A. Wright | |
Richard A. Wright | |
President, Chief Executive Officer and Director | |
July 11, 2018 |
The Alkaline Water Company Inc. Announces Record Quarterly Sales of over $7.85 million
Sales Continue to Accelerate as we enter the summer months of Q2
SCOTTSDALE, AZ--(Marketwired - July 11, 2018) - The Alkaline Water Company Inc. (TSXV and OTCQB: WTER) (the "Company"), with products bottled under the trademark Alkaline88®, is pleased to announce record quarterly sales were achieved in its first quarter for the fiscal year ending March 31, 2019.
First Quarter Highlights (Unaudited)
(All amounts are in U.S. dollars)
|
Record first quarter FY 2019 sales of over $7.85 million |
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First quarter FY 2019 sales of over $7.85 million up over 51% as compared to first quarter FY 2018 sales of $5.17 million |
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Completed non-brokered private placement with aggregate gross proceeds of over $3.8 million |
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Entered into co-packing agreement with state-of-the-art Southern California bottler, Chameleon Beverage, which will significantly increase wholesale production capacity |
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Expanded distribution in Texas with the addition of Grocery Supply, the largest wholesale food and beverage distributor in the state. |
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Alkaline88® is now available in Big Y World Class Markets across Massachusetts and Connecticut as a result of the Companys continued aggressive North-East expansion |
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Alkaline88® is now available in all 50 states at over 40,000 retail locations, including top national grocery retailers, Walmart, Kroger, Safeway-Albertsons and Shopko |
Management Comments
We have had another exceptional quarter of growth and continue to exceed our own expectations. We continue to trend ahead of our monthly projections for Fiscal Year 2019. stated Richard A. Wright, President and CEO of The Alkaline Water Company Inc. As sales momentum continues into the summer we expect to see strong growth through the next quarter and rest of the fiscal year. concluded Mr. Wright.
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.
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 sales continue to accelerate as the Company enters the summer months of Q2; that the Company continues to trend ahead of its monthly projections for Fiscal Year 2019; and that as sales momentum continues into the summer the Company expects to see strong growth through the next quarter and rest of the fiscal year. 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 Companys 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 Companys products; that there will be an expansion into new national and regional grocery retailers; that there will not be interruptions on production of the Companys products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Companys 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; additional competitors selling alkaline water in bulk containers reducing the Companys 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; that 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 Companys 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; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Companys ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; 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.
The Alkaline Water Company Inc.
James Gilmore
WTER Investor Relations
480-320-3570
investors@thealkalinewaterco.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.