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SCOTTSDALE, Ariz., Aug. 28, 2019 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) (the “Company”), a leading producer of premium bottled alkaline drinking water sold under the brand name Alkaline88,® today announced the expansion of its Cannabidiol “CBD” product portfolio with the launch of CBD-shots, tinctures, capsules, and powder packs.
Under the umbrella of A88 Infused Beverage Division Inc., a wholly-owned subsidiary, the Company intends to expand its CBD product portfolio to include a wide range of ingestible CBD products, including:
Photos of this expanded CBD product line can be viewed here: https://www.globenewswire.com/NewsRoom/AttachmentNg/e54d457b-99ad-43d0-8613-56ae1321f40e
To develop and bring these new products to market, the Company has entered into a Supply Agreement with Centuria Foods Inc. (“Centuria”). Under the agreement, Centuria will be the Company’s exclusive supplier of water-soluble phytocannabinoid-rich hemp oil. Centuria is a global leader in phytocannabinoid-rich hemp derived CBD ingredients for use in nutritional, pharmaceutical and wellness products. This agreement allows for the Company to further develop its CBD infused beverage line with the highest quality phytocannabinoid-rich hemp oil available, and provides a platform for the Company to develop its expanded CBD product line.
“We are excited to announce the continued expansion of our CBD product portfolio. According to BDS Analytics, U.S. CBD sales are expected to surpass $20 billion by 2024.We expect to capitalize on this growth through leveraging our CBD product portfolio to accelerate our entrance into the convenience store market which has been an early adopter of ingestible CBD infused products,” stated Richard A. Wright, President and CEO of The Alkaline Water Company, Inc. “Working with Centuria Foods is a natural fit for our Company. Centuria produces the highest quality Non-GMO, Organic, Kosher, and Halal certified PCR Hemp Oil in the industry, which aligns with our commitment to ‘clean beverages’ only made with easy to understand and high quality ingredients. We are very excited to begin working with Centuria Foods to further the development and production of our products being brought to market in the fast-growing hemp and CBD market,” concluded Mr. Wright.
“Consumer demand for high quality CBD products is growing, which leaves traditional retailers and distributors looking to partner with established and trusted brands in the industry,” said Michael Brubeck, CEO of Centuria Foods. "By partnering with Centuria Foods, The Alkaline Water Company is showing an extraordinary commitment to both its customers and its broader initiatives. We are proud to have played a significant role in achieving this milestone – successfully enabling the development and manufacturing for this line of CBD products,” concluded Mr. Brubeck.
“The trust and brand integrity we have built with our flagship product, Alkaline88®, will serve as a valuable asset when introducing our new CBD products to the market. We also expect these new products to pave the way for added shelf-space for our well-established Alkaline88® water,” remarked Frank Chessman, Executive Director of National Sales for The Alkaline Water Company Inc.
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 The Alkaline Water Company Inc.
The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) is a leading producer of premium bottled alkaline drinking water sold under the brand name Alkaline88®. With its innovative, state-of-the-art proprietary electrolysis process, the Company produces healthy, all-natural and great-tasting alkaline water for a balanced lifestyle. Founded in 2012, the Company is headquartered in Scottsdale, Arizona, and focuses on national distribution and marketing for retail sale of Alkaline88®, one of the fastest-growing premium bottled water brands on the market. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect on Facebook, Twitter, Instagram or LinkedIn.
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: the statement relating to the proposed launch of CBD-shots, tinctures, capsules and powder packs; the Company intends to expand its CBD product portfolio to include a wide range of ingestible CBD products and the statements relating to the expanded CBD product line; the Company expects to capitalize on the expected growth of U.S. CBD sales to surpass $20 billion by 2024 through leveraging its CBD product portfolio to accelerate its entrance into the convenience store market; the statement relating to the Company’s products being brought to market in the fast-growing hemp and CBD market; the trust and brand integrity the Company has built with its flagship product, Alkaline88®, will serve as a valuable asset when introducing the Company’s new CBD products to the market; and the Company expects these new products to pave the way for added shelf-space for the Company’s well-established Alkaline88® water.
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 hemp-derived 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 hemp-derived 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 hemp-derived 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.