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Thursday, 07/07/2022 9:31:51 AM

Thursday, July 07, 2022 9:31:51 AM

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The Alkaline Water Company Announces Plan for Pathway to Profitability with an Estimated $4.5-$5 Million in Annual Savings

SCOTTSDALE, Ariz., July 07, 2022--(BUSINESS WIRE)--The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the "Company"), the country’s largest independent alkaline water company and the Clean Beverage® company, today announced it has identified an estimated $4.5-$5 million in annual expense reductions and margin enhancements, once fully implemented, as part of an ongoing plan to put the Company on a pathway to profitability.

"We are committed to continue driving topline sales in fiscal year 2023 through new-store expansion and organic growth, despite economic headwinds," said Alkaline88 President and CEO, Frank Lazaran. "While focused on continued sales growth, the Company will emphasize a pathway to profitability in order to improve the bottom line and enhance shareholder value.

"During the past 30 days, we have undergone an extensive and thorough Company-wide review in which we’ve identified $4.5-$5 million in annual profit enhancements to be implemented over the next twelve months. This review is ongoing to determine additional areas of savings and we will keep our shareholders updated regularly on our progress."

The Company has broadly identified cost-saving measures including:

Adding strategic copacking partners to decrease freight costs and expand capacity to support anticipated record sales

Increasing efficiencies with copackers and raw material providers to boost margins on finished products

Eliminating redundancies and inefficiencies in third-party services and partnerships

Evaluating overall structure and productivity of the Company

Initiating a more disciplined capital management approach

Company Management will share more details on their pathway to profitability, positive Alkaline88® brand momentum, and fiscal year 2023 revenue guidance on their upcoming full year fiscal 2022 earnings call. The call will take place on Thursday, July 14th, 2022 after market close. Specific details to follow.

About The Alkaline Water Company:

The Alkaline Water Company is the Clean Beverage® company making a difference in the water you drink and the world we share.

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 alkaline drinking water with trace minerals and electrolytes and boasts our trademarked "Clean Beverage" label. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for Alkaline88®.

To purchase The Alkaline Water Company’s products online, visit us at www.alkaline88.com.

To learn more about The Alkaline Water Company, please visit www.thealkalinewaterco.com or connect with us on Facebook, Twitter, Instagram, or LinkedIn.

https://finance.yahoo.com/news/alkaline-water-company-announces-plan-131500476.html

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