SCOTTSDALE, AZ--(Marketwired - Apr 30, 2014) - The Alkaline Water Company Inc. (OTCBB: WTER) ("Alkaline Water" or the "Company") is pleased to announce that it has received additional demand for its previously announced registered direct offering and today accepted additional commitments from existing institutional investors to purchase an additional $775,000 of the Company's common stock and warrants in the registered direct offering that was previously announced on April 29, 2014. Aggregate gross proceeds in this offering will be approximately $2.6 million.
As previously announced, the offering consists of shares of the Company's common stock at a purchase price of $0.15 per share. In addition, the Company will issue to the investors immediately exercisable warrants to purchase up to an aggregate of approximately 8.7 million shares of common stock, which warrants shall have a term of 5 years and an exercise price of $0.15. The offering is expected to close on or about May 1, 2014, subject to satisfaction of customary closing conditions.
H.C. Wainwright & Co., LLC acted as the exclusive placement agent in connection with the offering.
The securities described above are being offered by Alkaline Water pursuant to a registration statement (File No. 333-192599), which was declared effective by the United States Securities and Exchange Commission, or the SEC, on April 16, 2014. A prospectus supplement related to the offering will be filed with the SEC. The securities may only be offered by means of a prospectus. Copies of the prospectus and prospectus supplement can be obtained directly from Alkaline Water and at the SEC's website at www.sec.gov or by request at H.C. Wainwright & Co., LLC by e-mailing firstname.lastname@example.org.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of Alkaline Water's common stock or warrants. No offer, solicitation or sale will be made in any jurisdiction in which such offer, solicitation or sale is unlawful.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information, visit our website at www.thealkalinewaterco.com.
The Alkaline Water Company, Inc. (OTCBB: WTER)
The Alkaline Water Company Inc. has developed an innovative, state of the art, proprietary electrolysis process that produces healthy alkaline water for a balanced lifestyle. The company is focused on the business of distributing and marketing the retail sale of its cost-effectively packaged Alkaline88 water beverage products. Visit us at: www.thealkalinewaterco.com.
About Alkaline Water Products
Alkaline88's premier alkaline water is an 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 three liter and one gallon sizes (plus 700ml in select markets). The Alkaline Water Company Inc. is currently in the midst of a national mass markets expansion program and 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 press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.