Arrowhead Water Products Ltd.

Arrowhead Water Products Ltd.

February 26, 2010 08:30 ET

Arrowhead Water Announces First Quarter Financial Results and Private Placement

CALGARY, ALBERTA--(Marketwire - Feb. 26, 2010) - Arrowhead Water Products Ltd. ("Arrowhead" or the "Company") (TSX VENTURE:AWP.A) reports its interim unaudited consolidated financial results for the three month period ended December 31, 2009. For complete disclosure of Arrowhead's first quarter financial results and Management's Discussion and Analysis ("MD&A"), please go to and view documents listed under Arrowhead Water Products Ltd.

Private Placement

The Company also announces that, subject to regulatory and TSXV approval, it is proceeding with a private placement (the "Private Placement") of up to $1,000,000 of Units (the "Units"). Each Unit will be priced at $0.025 and will be comprised of one (1) Class A Common Share (the "Shares") and one (1) Purchase Warrant to acquire one Share of the Company (the "Warrants") at a price of $0.03 per share until expiry on March 31, 2011. The proceeds from the sale of the Units will be used to expand the Company's 15-litre retail business in Alberta and British Columbia. The Company may pay Finder's Fees to non-related parties of the Company of up to 8% of the funds raised payable in cash and 8% options. Closing of the Private Placement is expected to occur on or before March 26, 2010. The Shares issued pursuant to the Private Placement will be subject to a four month hold period.

About Arrowhead Water

Arrowhead Water is Canada's largest Canadian owned, publicly traded water company which is engaged in the production, sale and distribution of large format (15 and 18.9 litre) bottled drinking water. Arrowhead produces and delivers bottles of reverse osmosis, distilled and natural spring water to the Western Canadian retail and wholesale market. Arrowhead remains committed to continually improve its level of service to its customers and to provide positive returns to its shareholders.


This press release may include forward-looking statements and assumptions respecting the Company's strategies, future operations, expected financial results, financial sources, commodity prices, costs of production and quantum of oil and natural gas reserves and discusses certain issues, risks and uncertainties that can be expected to impact on any of such matters. By their nature, forward-looking statements are subject to numerous risks and uncertainties that can significantly affect future results. Actual future results may differ materially from those assumed or described in such forward-looking statements as a result of the impact of issues, risks and uncertainties whether described herein or not, which the company may not be able to control. The reader is therefore cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any intention or obligation to update or revise these forward-looking statements, as a result of new information future events or otherwise.

Issued and Outstanding Shares: 30,832,530

Neither the 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.

Contact Information

  • Arrowhead Water Products Ltd.
    Donald W. Wood
    President and Chief Executive Officer
    (403) 692-8259
    (403) 243-1485 (FAX)
    Arrowhead Water Products Ltd.
    5730 Burbank Road SE
    Calgary, Alberta T2H 1Z4