The Alkaline Water Company Appoints Retail Industry Veteran Frank Lazaran to its Board of Directors
The Alkaline Water Company (WTER) has appointed Frank Lazaran, a seasoned retail veteran, to its board of directors effective October 8, 2020, while Bruce Leitch steps down to focus on other business ventures. Lazaran, who has over 40 years of industry experience, will contribute to the audit and compensation committees. His appointment is seen as pivotal for scaling the company’s lifestyle brands amidst rising demand. The company aims to achieve cash flow profitability by fiscal 2021, driven by new product initiatives and strategic insights from Lazaran.
- Appointment of Frank Lazaran enhances board expertise with industry knowledge.
- Lazaran's track record in retail can aid in scaling operations and driving innovation.
- Company aims for cash flow profitability by fiscal 2021, indicating positive growth prospects.
- Bruce Leitch's departure raises concerns about continuity in leadership.
SCOTTSDALE, Ariz., Oct. 08, 2020 (GLOBE NEWSWIRE) -- The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the "Company"), is a producer of bottled alkaline water, flavor-infused waters, and CBD infused products sold under the brand names Alkaline88®, A88 Infused™, and A88CBD™, respectively. The Company is pleased to announce the appointment of retail industry veteran Frank Lazaran to its board of directors, effective October 8, 2020. Mr. Lazaran will serve on the Company’s audit and compensation committees. Simultaneous to Mr. Lazaran's appointment, the Company announces that Bruce Leitch has decided to step down from the Company's board of directors. Mr. Leitch is leaving the board to focus on other business endeavors.
"On behalf of the Board, we are delighted to welcome Frank Lazaran as a full-time member of The Alkaline Water Company's Board of Directors," commented Aaron Keay, Chairman of the Board of Directors for The Alkaline Water Company. "Frank is a seasoned industry veteran with experience and knowledge that will be instrumental as we scale our growing lifestyle brands to existing and new trade channels. Also, we want to thank Bruce for his outstanding leadership and guidance since 2016. His various contributions have helped to drive growth and innovation for our core brand, Alkaline88®, and our emerging portfolio of A88 Infused™ and A88CBD™ products."
As a 40-year veteran of the retail food industry, Frank Lazaran brings decades of commercial and c-suite experience in scaling organizations, optimizing operations, and driving innovation in the retail sector. He has a solid track record for delivering operational excellence with balanced growth to companies facing unique challenges and complex situations. He was most recently the Chairman, Chief Executive Officer, and President of Marsh Supermarkets, Inc., a multi-format regional food retailer based in Indianapolis, Indiana. Under his leadership, he led the company through a successful turnaround. Prior to Marsh, Mr. Lazaran served as the Chief Executive Officer, President, and Director of Winn-Dixie Stores, Inc., which was a publicly-traded company and one of the largest supermarket chains in the Southeast. He is currently a senior industry partner for the private equity firm, New State Capital, and serves as an advisor to the retail industry through his consulting practice, Galazarano Consulting & Investments.
"Frank has been an invaluable advisor to the board since March 2017. His breadth of experience, deep knowledge of the retail trades, and strong industry relationships have helped shape our brick and mortar strategy. Demand for our growing brands is at an all-time high, and we remain committed to achieving our cash flow profitability goals by fiscal 2021. Having a high-caliber executive like Frank provide valuable strategic and operational insights is extremely beneficial, especially during our current business cycle," stated Richard Wright, President and CEO of The Alkaline Water Company.
About The Alkaline Water Company
Founded in 2012, The Alkaline Water Company (NASDAQ and CSE: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88®, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88® delivers perfect 8.8 pH balanced alkaline drinking water with trace minerals and electrolytes and boasts our trademarked label 'Clean Beverage.' Quickly being recognized as a growing lifestyle brand, Alkaline88® launched A88 Infused™ in 2019 to meet consumer demand for flavor-infused products. A88 Infused™ flavored water is available in six unique all-natural flavors, with new flavors coming soon. Additionally, in 2020, the Company launched A88 Infused Beverage Division Inc., which includes the Company's CBD water and flavor-infused water. For the Company's topical and ingestible offerings, A88 Infused Products Inc. includes both the Company's lab-tested full-spectrum hemp salves, balms, lotions, essential oils, and bath salts, along with broad-spectrum hemp powder packs, oil tinctures, capsules, and gummies.
To purchase A88CBD™ products online, visit us at www.A88CBD.com. To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this news release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the following: that the Company will achieve its cash flow profitability goals by fiscal 2021.
The material assumptions supporting these forward-looking statements include, among others, that the demand for the Company's products will continue to significantly grow; that the past production capacity of the Company's co-packing facilities can be maintained or increased; that the Company will receive all necessary regulatory approvals for the production and sale of CBD-infused products; that there will be increased production capacity through implementation of new production facilities, new co-packers and new technology; that there will be an increase in number of products available for sale to retailers and consumers; that there will be an expansion in geographical areas by national retailers carrying the Company's products; that there will be an expansion into new national and regional grocery retailers; that there will be an expansion into new e-commerce, home delivery, convenience, and healthy food channels; that there will not be interruptions on production of the Company's products; that there will not be a recall of products due to unintended contamination or other adverse events relating to the Company's products; and that the Company will be able to obtain additional capital to meet the Company's growing demand and satisfy the capital expenditure requirements needed to increase production and support sales activity. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, governmental regulations being implemented regarding the production and sale of alkaline water or any other products, including products containing hemp/CBD; the fact that consumers may not embrace and purchase any of the Company's CBD-infused products; the fact that the Company may not be permitted by the FDA or other regulatory authority to market or sell any of its CBD-infused products; additional competitors selling alkaline water and enhanced water products in bulk containers reducing the Company's sales; the fact that the Company does not own or operate any of its production facilities and that co-packers may not renew current agreements and/or not satisfy increased production quotas; the fact that the Company has a limited number of suppliers of its unique bulk bottles; the potential for supply-chain interruption due to factors beyond the Company's control; the fact that there may be a recall of products due to unintended contamination; the inherent uncertainties associated with operating as an early stage company; changes in customer demand and the fact that consumers may not embrace enhanced water products as expected or at all; the extent to which the Company is successful in gaining new long-term relationships with new retailers and retaining existing relationships with retailers; the Company's ability to raise the additional funding that it will need to continue to pursue its business, planned capital expansion and sales activity; and competition in the industry in which the Company operates and market conditions. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States and Canada. Although the Company believes that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Readers should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents the Company files with the SEC, available at www.sec.gov, and on the SEDAR, available at www.sedar.com.
The Alkaline Water Company Inc.
Richard A. Wright
President and CEO, or
800-923-1910
investors@thealkalinewaterco.com
Media
Jessica Starman
888-461-2233
jessica@elev8newmedia.com
Neither 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.
FAQ
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