NetworkNewsBreaks – The Alkaline Water Company I

NetworkNewsBreaks – The Alkaline Water Company Inc. (NASDAQ: WTER) (CSE: WTER) Announces FY 2021 Financial Record, Closing of Private Placement

The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), a producer of premium bottled alkaline water, flavor-infused waters and CBD-infused products sold under the brand names Alkaline88(R), A88 Infused(TM) and A88CBD(TM), saw record revenue in fiscal year 2021. In its FY2021 financial report, which includes numbers for the full fiscal year ending March 31, 2021, the company reported revenue of $46 million, which represents a 20% growth over fiscal year 2020. In addition to record revenue, the company reported CAGR of 52% since fiscal 2015; cost of goods sold reaching approximately $29.6 million; and gross profit showing a 25% increase over FY2020, totaling an estimated $16.4 million. Company highlights in the report included Alkaline88 water now being sold in more than 75,000 stores across the country; direct store delivery partnerships with Mahaska, Nevada Beverage Company and Hensley Beverage Company, which serve a combined 16,000 clients in five states; and expansion into the multibillion-dollar hospitality and food-service channel. Company president and CEO Richard A. Wright and chief financial officers David Guarino hosted a live conference call to discuss the report on July 6, 2021, at 8:30 a.m. A replay of the call will be available for one week, starting on July 7, 2021. Interesting individuals can access the replay by calling 877-660-6853 in the United States or Canada; international callers can dial 201-612-7415. “Fiscal 2021 was another record year for The Alkaline Water Company continuing our streak of never having a down or a flat year,” said The Alkaline Water Company president and CEO Richard A. Wright in the press release. “Our employees and business partners rose to the occasion throughout last year, and we have seen significant sales acceleration into fiscal 2022. We delivered to our customers and consumers when they needed us most. The trust and appreciation we earned from our strong performance throughout the pandemic allowed us to continue to see more organic and new-store growth, and an expanding presence in more key channels. Our guidance for the full fiscal year 2022 is $62 million, which would represent year-over-year growth of 35%.”

In addition, WTER announced that it had closed a nonbrokered private placement. The placement, comprised of 4,757,381 subscription receipts, priced at $1.05 per share, resulted in $4,995,250.05 in gross proceeds for The Alkaline Water Company. The company noted that it intends to use the proceeds for general working capital and expanding production capacity. Involved in the private placement were WTER chair Aaron Keay and Shaquille O’Neal, former NBA superstar and now well-known sport and business figure; both Keay and O’Neal invested $1,050,000, representing more than 40% of the entire financing. “Alkaline88 continues to be one of the most prominent growing premium functional waters in the category,” said The Alkaline Water Company chair Aaron 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.”

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