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Alkaline Water Co. Completes Securities Offering With $2.97M Raise
Alkaline Water Co. Completes Securities Offering With $2.97M Raise.
About this update from Alkaline Water Company Inc. (the)
[{"type":"text","content":"\n \n \n Alkaline Water Co. Completes Securities Offering With $2.97M Raise\n \n \nAlkaline Water Co. Completes Securities Offering With $2.97M Raise\n\nUse of Proceeds Includes $1.5M Loan Repayment and Operational Capital to Maximize Upcoming Summer Season.\n\n \n SCOTTSDALE, AZ--(Marketwired - Mar 23, 2016) - The Alkaline Water Company Inc. (OTCQB: WTER) (the \"Company\"), developers of an innovative state of the art proprietary electrolysis beverage process packaged and sold in 500ml, 700ml, 1-liter, 3-liter and 1-gallon sizes under the trade name Alkaline88, today announced that effective March 4, 2016 it has completed the offering and sale (the \"Offering\") of an aggregate of 9,000,000 shares of its common stock and warrants to purchase an aggregate of 4,500,000 shares of its common stock, for aggregate gross proceeds of $2,970,000.\n Each share of common stock the Company sold in the offering was accompanied by one-half of a warrant to purchase one share of common stock at an exercise price of $0.50 per share for a period of two years from the date of issuance. Each share of common stock and accompanying one-half of one warrant was sold at a price of $0.33.\n These securities have been registered under the Securities Act of 1933 pursuant to the Company's registration statement on Form S-1, as amended (No. 333-209124), which was declared effective by the Securities and Exchange Commission on February 11, 2016.\n In related news and also on March 4, 2016, the Company used the proceeds of the offering to repay loans in the aggregate principal amounts of $1,500,000 (originally from Neil Rogers and Turnstone Capital Inc.). The remainder of the proceeds will be used to further manage and develop operations and sales of the company's flagship Alkaline88 product lineup.\n \"We are very pleased by the timing of this event as the offering is truly advantageous to our immediate strategic plans,\" stated Mr. Steven Nickolas, Company CEO and President. \"The proceeds permit us to pay down debt, which is always a positive factor. But it also allows us to invest in achieving operational and marketing targets designed to maximize our efforts as we head into the all-important summer beverage season. We are already busy ramping up for the months ahead and it's always gratifying when our financial planning endeavors come to fruition and mat...