The Alkaline Water Company Commends Farm Bill Passage as Driver for Consumer Access to CBD-Infused Beverages
SCOTTSDALE, Ariz., Dec. 13, 2018 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and TSXV: WTER) (the “Company”), with products bottled under the trademark Alkaline88®, announced today that, following the passage of the Agriculture Improvement Act of 2018 (Farm Bill), the Company is well-positioned to capitalize on the opportunity to be one of the first national U.S. beverage companies to bring the true water-soluble, full-spectrum features of bioactive cannabidiol (CBD) molecules from hemp plants to U.S. consumers through its A88 Infused Beverage Division, Inc. (A88 Infused).
“We are very excited that Congress has passed legislation redefining hemp to include extracts, cannabinoids and derivatives, which will permanently remove hemp from the Controlled Substances Act (CSA),” said Ricky Wright, President and CEO of The Alkaline Water Company. “This is a significant step forward for consumers who are looking to access CBD and CBD-infused products. As local and state legislatures, as well as the U.S. Food and Drug Administration (FDA), finalize their regulations for hemp, we are well-positioned to launch our great tasting Alkaline88® infused with natural hemp-extract formulations to become a dominant brand in this beverage category.”
A88 Infused’s recently announced agreement with Infusion Biosciences, Inc. (IBS) will enable the Company to combine its state-of-the-art Electrochemically Activated Water (ECA) system with IBS’ Aqueous Phytorecovery Process (APP) technology and leverage these proprietary formulations to infuse water-soluble cannabinoids without the use of any chemicals or additives. The merger of IBS’ science and technology with the power and integrity of the Alkaline88® brand is expected to create a market-leading approach to the fast-growing hemp-infused beverage category. All CBD-infused Alkaline88® water will be branded as SOOTHETM and will initially be available in the 500 ml size with a dosage of 8.8 mg of Hemp-extract per bottle. We anticipate these products will be on the market in the first quarter 2019.
A88 Infused’s new line of full spectrum hemp-extract beverages will include:
- Hemp-Extract Alkaline88® Water (including grapefruit, peach mango, raspberry, and lemon lime)
- Sparkling Hemp-Extract Infused water (including grapefruit, peach mango, raspberry, and lemon lime)
The Company fully intends to comply with all federal, state, and local laws, rules and regulations as the Company develops its hemp-infused alkaline water and other nutraceutical product lines. The Company will not pursue the production or sale of hemp-infused products until legally permitted and all necessary approvals have been obtained.
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 Himalayan Pink Rock Salt, and the #1 selling bulk alkaline water in the United States. 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. Alkaline88® is available in over 47,500 retailers in all 50 states, including national retailers such as Safeway/Albertsons, Walmart, Kroger, CVS, and other top regional and local supermarket chains. To find a retailer near you visit: http://thealkalinewaterco.com/about-us/locations/
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 Company is well-positioned to capitalize on the opportunity to be the first national U.S. beverage companies to bring the true water-soluble, full-spectrum features of bioactive cannabidiol (CBD) molecules from hemp plants to U.S. consumers through its A88 Infused; that the Company is well-positioned to launch its great tasting Alkaline88® infused with natural hemp-extract formulations to become a dominant brand in this beverage category; that A88 Infused’s recently announced agreement with IBS will enable the company to combine its state-of-the-art ECA system with IBS’ APP technology and leverage these proprietary formulations to infuse water-soluble cannabinoids without the use of any chemicals or additives; that the merger of IBS’ science and technology with the power and integrity of the Alkaline88® brand is expected to create a market-leading approach to the fast-growing hemp-infused beverage category; that all CBD-infused Alkaline88® water will be branded as SOOTHETM and will initially be available in the 500 ml size with a dosage of 8.8 mg of Hemp-extract per bottle and the Company anticipates these products will be on the market in the first quarter 2019; and that A88 Infused’s new line of full spectrum hemp-extract beverages will include Hemp-Extract Alkaline88® Water (including grapefruit, coconut, peach mango, raspberry, and lemon lime) and Sparkling Hemp-Extract Infused water (including grapefruit, coconut, peach mango, raspberry, and lemon lime).
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/hemp-infused water 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 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 CBD/hemp; the fact that consumers may not embrace and purchase any of the Company’s infused water products; the fact that the Company may not receive approval for any of its CBD infused products; the fact that even though the Farm Bill was passed into law, the Company may not receive approval from state and local regulatory bodies, the US Drug Association or the FDA for its CBD/hemp-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; 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 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 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; 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
Elizabeth Van Every
Burson Cohn & Wolfe
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/554bc0fc-d7af-44f0-8d0b-e55777d23a80
Released December 13, 2018