BRWC - BOOM TIME COMING!!!
Boreal Water Collection Is in Process of Completing Retirement of All Convertible Notes From Its Balance Sheet
11:20 AM ET 4/29/15 | Marketwired
Boreal Water Collection, Inc. (OTC PINK: BRWC), a high end private label bottled water company from NY, announced today that it is in the process of retiring all of its outstanding convertible notes held by various financing companies.
"Our goal is to become a fully sustainable free cash flow business by the end of 2015," said Francine Lavoie, chief executive officer. "Retiring of all the convertible debt will help reduce uncertainty in our equity structure and represents a major step in our plan to re-capitalize Boreal Water and strengthen its balance sheet. We are anxious to complete this program and to continue our focus on growing our business, and adding value for our shareholders. All of the debt conversions have resulted in a significant reduction in the Company's debt in our 1st quarter of $585,000. We believe that by the end of the 2nd quarter, we will have reduced our debt burden in convertible notes by 100% and will have reduced our debt by $800,000. As a result of the Company's growth, going forward we believe that we can cease the use of convertible debt financing to fund our operations and expansion.
"A significant amount of the company's operating loss and dilution to shareholders was attributable to these convertible note instruments. While such debt served a purpose during a time when we were investing in creating revenues and developing new products, we are happy to be moving ahead without this type of debt instrument.
"We have no intention to issue any more convertible notes. Since October 2014, we have not entered into any new convertible promissory note agreements. In fact, almost daily, we are turning down offers of additional financing. The fact is, going forward we can no longer justify to ourselves or our shareholders the cost of this type of financing. We are not pleased at our stock price, but unfortunately we have little to no control over the share price and the market."
About Boreal Water Collection, Inc.
Boreal Water Collection is a personalized bottler of a full and diverse line of various types of water including:
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-- Functional Enhanced Water -- Infused Water -- Carbonated Water -- Vitamins Enhanced Water -- Flavored Still or Sparkling -- Minerals Enhanced Water -- Oxygenated Water -- Alkaline Water -- Electrolyte Water -- Distilled Water -- Caffeinated Water -- Natural Spring Water
Boreal provides premium custom bottled water for its clients and customers, whether it is for publicity, promotion, marketing, internal use or a specific event. The Company also offers fully integrated turnkey service, with prize-winning Boreal private label water, made-to-order labeling, along with distinctive water containers. Current and past customers include Ritz Carlton, Tommy Hilfiger, Saks Fifth Ave, Infiniti, Guess, LaCosta, Porsche, Re/Max, BMW Balance Water, Wa-taah Water, Fred Water, Dean & DeLuca, the Quin Hotel, WestHouse New York, the Surrey New York City, Bouchon Bakery, Princeton University and 3M.
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For more information on Boreal Water Collection, please contact us by email us at investors@borealwater.com or sales@borealwater.com, or visit www.borealwater.com and follow us on the different social media sites such as www.facebook.com/borealwaternews, www.twitter.com/borealwaternews and www.linkedin.com/in/borealwater.
Safe Harbor for Forward-Looking Statements:
This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
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Boreal Water Collection
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