Arrowhead Water Products Ltd.
TSX VENTURE : AWP.A

Arrowhead Water Products Ltd.

June 05, 2007 19:37 ET

Arrowhead Water Announces Addition of New Key Senior Managers and Sale of Property

CALGARY, ALBERTA--(Marketwire - June 5, 2007) - Arrowhead Water Products Ltd. ("Arrowhead" or the "Company") (TSX VENTURE:AWP.A) is pleased to announce the appointment of Russell P. Rogers as Vice President, Operations for the Company. Mr. Rogers has over 14 years of experience in the bottled water industry (Danone Waters Canada, Canadian Springs Water Company and Coastal Mountain Water Company). Most recently, he was the General Manager for Arrowhead. Mr. Rogers will be responsible for the overall day-to-day operations of the Company.

Arrowhead also announces the appointment of Brian McCabe as Controller for the Company. Mr. McCabe brings a wealth of financial experience at senior management levels and has over ten years of direct experience in the bottled water industry. Arrowhead also announces the appointment of Paddy McGinley as the Company's new Director of Operations for Northern Alberta. Mr. McGinley has over 21 years experience in operations, logistics and purchasing management in various industries at the senior management level and will be responsible for leading and managing the Company's day-to-day operations in Edmonton. The Company also announces that R. Daniel DeMaere has resigned as Chief Financial Officer and a Director of the Company. The Board of Directors thanks Mr. DeMaere for his past contributions to the Company.

The Company also announces that it has sold its retail operations in Dawson Creek and Fort St. John, British Columbia for a cash sum of $305,000. In the transaction, the Company sold its business inventories, tangibles, accounts receivable and airport property but will continue commercial business operations in that area and service its major retail customers through a co-packing arrangement.

About Arrowhead Water

Arrowhead Water is a bottled water company that generates the majority of its revenues through the sale and rental of water coolers and the delivery of spring, distilled and drinking water throughout Western Canada. Provincial coverage is achieved by operating production facilities located in Edmonton and Calgary, Alberta. Arrowhead Water remains committed to continually improve its level of service to its customers and to provide positive returns to its shareholders.

READER ADVISORY:

Certain information regarding the Company including management's assessment of future plans and operations may constitute forward-looking statements under applicable securities laws. Forward looking statements are based on the estimates and opinions of the Company's management at the time the statements were made. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "plan", "should", "believe" and similar expressions are intended to identify forward-looking statements and forward-looking information including, but not limited to, statements as to: future capital expenditures, including the amount and nature thereof; business strategy; expansion and growth of the Company's business and operations. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements or information. The Company believes that the expectations reflected in those forward-looking statements and information are reasonable but no assurance can be given that these expectations, or the assumptions underlying these expectations, will prove to be correct and such forward-looking statements should not be unduly relied upon. Such forward-looking statements and information speak only as of the date of this release and the Company does not undertake any obligation to publicly update or revise forward-looking statements or information, except as required by applicable laws. Any forward-looking statements or information previously made may be inaccurate now. All subsequent forward-looking statements and information, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Class A Common Shares Issued 30,832,530

The TSX Venture Exchange has not reviewed and does not accept 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) 234-1485 (FAX)
    Email: dwood@arrowheadwater.ca
    or
    Arrowhead Water Products Ltd.
    5730 Burbank Road S.E.
    Calgary, Alberta T2H 1Z4