The Alkaline Water Company Announces Closing of Non-Brokered Private Placement of Subscription Receipts


Shaquille O’Neal and Company Chairman Aaron Keay Invest US$1 Million Each SCOTTSDALE, Ariz.–(BUSINESS WIRE)–The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”) today announces, that further to its News Release of July 5, 2021, it has closed a non-brokered private placement financing (the “Financing”) of 4,757,381 subscription receipts (each, a “Subscription Receipt”) at a price of US$1.05 per Subscription Receipt for total gross proceeds of US $4,995,250.05. “Alkaline88® continues to be one of the most prominent growing premium functional waters in the category. Having just reported another record year, the Company could not be better positioned for aggressive growth throughout fiscal 2022 in multiple different sales channels,” said the Alkaline Water Company’s Chairman, Aaron Keay. “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.” “I only invest in companies I believe in and products that I use. Alkaline88® checks both boxes,” said Shaquille. “We’ve got big plans for this company and I’m looking forward to being a key player in its continued success.” Mr. Keay’s and Shaquille O’Neal’s equal investments of US$1,050,000 in the Financing accounted for over 40% of the gross proceeds of the entire financing. The Company expects to use the proceeds as general working capital and to fund the expansion of production capacity. “We really could not have found a better partner for Alkaline88® than Shaquille,” said Ricky Wright, President and CEO of The Alkaline Water Company. “I can’t overstate how business-minded he is about the success of this company, and I believe that this investment emphasizes that point even more. We’re absolutely thrilled to have him as the face of our company, but even more so to count him…

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Source : The Alkaline Water Company Announces Closing of Non-Brokered Private Placement of Subscription Receipts

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