Loading, Please Wait...
SCOTTSDALE, Ariz., Oct. 17, 2019 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) (the “Company”), a producer of premium bottled alkaline drinking water and flavored water sold under the brand name Alkaline88®, is pleased to announce the formation of A88 Infused Products Inc., a wholly-owned Nevada corporation (“A88 Infused Products”). A88 Infused Products has developed a variety of topical CBD infused products which include salves, balms, lotions, essential oils, and bath-salts all made with lab-tested full-spectrum hemp.
“We now view the entire CBD market as a tremendous opportunity to further expand our brand and product portfolio in both the ingestibles and the natural beauty and personal care category within the much larger health and wellness space. We believe that our growing national footprint consisting of convenience stores, supermarkets, drug stores, and retailers provide us a unique opportunity to take advantage of this significant emerging market trend. We have already been in discussions with a number of our major retail clients who have been early adopters and are excited about this product expansion,” stated Richard A. Wright, president and chief executive officer of The Alkaline Water Company, Inc.
BDS Analytics estimates that U.S. sales of cannabis and hemp-derived CBD product is expected to surge from $1.9 billion in 2018 to $20 billion by 2024, a compound annual growth rate of 49%. According to their research, there is substantial consumer interest in the consumables (tinctures, pills, beverages, food) and Topicals (creams, balms, salves) formats, despite the current low consumer penetration rate. In addition, many major national retailers (CVS, Walgreens, Rite Aid, Sprouts, Whole Foods, Ulta, GNC Holdings, Designer Brands, Urban Outfitters, and Neiman Marcus) have been early adopters of CBD topical products and have introduced various product lines in select markets.
Wright further added, “Our recent introduction of CBD ingestibles has generated strong interest from our major U.S. retail clients. This speaks highly of the brand integrity we have built with our flagship product, Alkaline88®. We knew CBD topicals was the next natural extension for the Alkaline88® brand based on the product specific knowledge we acquired from working with Centuria Foods Inc. Over the past several months, we have teamed up with one of the foremost developer and manufacturer of high-performance and authentically natural beauty and personal care products. This established partner has been behind the scenes of many of the world’s most successful, natural, organic, and CBD brands, ranging from Food/Drug/Mass to ultra-premium.”
New Alkaline88® topical products developed with lab-tested full-spectrum hemp include:
Photos of the new CBD infused product line can be viewed here:
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.
About Centuria Foods Inc.
Since 2014, Centuria Foods has been producing the safest, highest quality CBD oil in the industry. Prior to the legalization of Hemp and CBD production via the industry-changing 2018 Farm Bill, Centuria Foods was the only legal CBD producer in the U.S., having approvals from the Department of Homeland Security, as well as the Customs and Border Protection. Centuria remains at the forefront of the CBD industry as it continues its meteoric growth under the legal framework of the 2018 Farm Bill. For more information on Centuria visit https://centuriafoods.com/
About The Alkaline Water Company Inc.
The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) is a leading producer of premium bottled alkaline drinking and flavored water sold under the brand name Alkaline88®. 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. The Company recently announced a broad line of CBD infused products which include ingestibles and topical products. For its ingestibles line, the A88 Infused Beverage Division Inc. produces CBD infused drinks, beverage shots, tinctures, capsules, and powder packs. For its topicals line, A88 Infused Products Inc. produces salves, balms, lotions, essential oils, and bath-salt all made with lab-tested full-spectrum hemp. The Alkaline Water Company Inc. is currently pursuing a national multi-channel, mass-market expansion strategy with a direct-to-warehouse model and co-packaging facilities that are strategically located 600 miles within 95% of the U.S. population. Founded in 2012, the Company is headquartered in Scottsdale, Arizona. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect on Facebook, Twitter, Instagram or LinkedIn.
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: the statement relating to taking orders for the Company’s CBD products at the upcoming ECRM CBD Food and Beverage Program on November 4-6, 2019 in Cape Coral, Florida; the statement that full-scale delivery of topical products expected to begin in January, 2020; the statement that the entire CBD Market is a tremendous opportunity to further expand the Company’s brand and product portfolio in both the ingestibles and the natural beauty and personal care category within the much larger health and wellness space; the Company’s belief that the Company’s growing national footprint consisting of convenience stores, supermarkets, drug stores, and retailers provides the Company a unique opportunity to take advantage of the significant emerging market trend relating to the CBD market; and that BDS Analytics estimates that U.S. sales of cannabis and hemp-derived CBD product is expected to surge from $1.9 billion in 2018 to $20 billion by 2024, a compound annual growth rate of 49%.
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 Company’s co-packing facilities can be maintained or increased; that the Company will receive all necessary regulatory approvals for the production and sale of CBD-infused products; 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 Company’s products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new e-commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company’s products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company’s 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 or any other products, including products containing hemp/CBD; the fact that consumers may not embrace and purchase any of the Company’s CBD-infused products; the fact that the Company may not be permitted by the FDA or other regulatory authority to market or sell any of its CBD-infused products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company’s 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; the 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 Company’s 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 and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company’s ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and 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.
Richard A. Wright
President and CEO
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.