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SCOTTSDALE, Ariz., Feb. 18, 2025 (GLOBE NEWSWIRE) -- The Alkaline Water Company, Inc. (OTC: WTER -- hereinafter referred to as the "Company"), a leader in the beverage industry known for its purified alkaline water, enhanced with Himalayan rock salt, today announced the filing of its application for uplisting to the OTCQB market tier.
"Filing our OTCQB application marks a transformative step in our capital markets strategy," said Ricky Wright, CEO of The Alkaline Water Company. "While this begins a thorough review process by OTC Markets of our application and supporting documentation, once approved, we can immediately take advantage of the SEC's modernized Rule 15c2-11 framework. This means enhanced market maker participation through the IDQS system with no 30-day waiting period, creating new opportunities for institutional engagement and improved trading efficiency. These improvements will ultimately provide our shareholders with better liquidity and price discovery as we work to reestablish ourselves as the nation's leading independent alkaline water company. We look forward to working with OTC Markets throughout this process and will keep our shareholders informed of material developments."
The Company's recent operational transformation has achieved several historic milestones:
- Vertical Integration: Signed LOI for equipment acquisition enabling the first company-owned production facility in corporate history, projecting up to $2 million in annual cost savings.
- Strategic Inventory: Secured $1.5 million in essential inventory through a restricted share structure, improving projected cash position by $1.2 million through June.
- Production Control: Positioning for enhanced quality control and operational efficiency through direct manufacturing capabilities.
- Corporate Governance: Strengthened oversight with appointment of two independent directors with extensive business and financial expertise.
- Operational Foundation: Completed PCAOB audit and implemented enhanced market transparency measures.
About The Alkaline Water Company, Inc.
The Alkaline Water Company, Inc., are the developers of Alkaline88 - a purified alkaline water, enhanced with Himalayan rock salt and engineered for a smooth and delicious taste.
Disclaimer Regarding Forward Looking Statements
This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and beliefs concerning future developments and their potential effects on the Company. Such forward-looking statements include, but are not limited to, statements regarding our OTCQB uplisting application, potential benefits of Rule 15c2-11 processes, anticipated market maker participation, projected trading improvements, equipment acquisition, inventory management, and operational efficiencies.