Former CEO Ricky Wright Returns to Lead The Alkaline Water Company

Rhea-AI Summary

The Alkaline Water Company (OTC: WTER) announced the return of Ricky Wright, its co-founder and former President and CEO who retired in 2022, to lead the company's next growth phase. The announcement coincides with the company's preparations to file Form 15c211 with FINRA, aiming to become eligible for proprietary broker-dealer quotations and continuous market making.

Under Wright's previous leadership, Alkaline88® became the largest independent alkaline water company in the country, expanding to over 75,000 stores across the United States. The company's product is known for its purified water enhanced with Himalayan rock salt.

Positive

• Previous track record of expanding to 75,000 stores nationwide under Wright's leadership
• Strategic move to file Form 15c211 with FINRA to enhance market making capabilities
• Company holds position as largest independent alkaline water company in the country

Negative

• Company currently trading on OTC markets, indicating delisting from major exchanges
• Need for 'resurrection' suggests current business challenges

SCOTTSDALE, Ariz., Dec. 2, 2024 /PRNewswire/ -- The Alkaline Water Company, Inc. (OTC: WTER), announced today the return of its co-founder and former President and CEO, Ricky Wright, to lead the company forward as it prepares for its next phase of growth. Wright, who retired in 2022, returns to the company he helped build with renewed vision and determination to complete the mission he started years ago.

"When I stepped away in 2022, we had accomplished half of our original dream – establishing alkaline water as a recognized and respected beverage category that consumers understand and appreciate," says Wright. "However, the second half of that vision, building The Alkaline Water Company into the dominant force in the alkaline water space, remained unfulfilled. Coming back to what I affectionately call 'my baby' feels like coming home, and the timing couldn't be better."

Wright's return coincides with the company's preparations to file its Form 15c211 application with FINRA, a crucial step toward becoming eligible for proprietary broker-dealer quotations and continuous market making. This move represents part of a larger strategy to enhance the company's market position and accessibility to investors.

"The country's increasing focus on healthier living and wellness habits creates the perfect environment for the next chapter of our story," Wright continues. "I never thought I'd have this opportunity again, but I'm incredibly excited to help resurrect this once-great company and bring the country's best-tasting alkaline waters back to consumers nationwide."

Under Wright's previous leadership, Alkaline88® became the largest independent alkaline water company in the country, known for its smooth taste and simple, trusted ingredients – purified water enhanced with Himalayan rock salt. The brand expanded its presence to over 75,000 stores across all trades in the United States.

"Our mission remains clear – to provide consumers with clean, pure drinking water that not only tastes great but contributes to their overall wellness journey," adds Wright. 

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Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statements.

About The Alkaline Water Company, Inc.

The Alkaline Water Company, Inc., are the developers of Alkaline - a purified alkaline water, enhanced with Himalayan rock salt and engineered for a smooth and delicious taste.

View original content:https://www.prnewswire.com/news-releases/former-ceo-ricky-wright-returns-to-lead-the-alkaline-water-company-302319305.html

SOURCE The Alkaline Water Company, Inc.

FAQ

Why did Ricky Wright return to The Alkaline Water Company (WTER)?

Ricky Wright returned to complete his original vision of building The Alkaline Water Company into the dominant force in the alkaline water space, after retiring in 2022.

What regulatory filing is The Alkaline Water Company (WTER) preparing in 2024?

The company is preparing to file Form 15c211 with FINRA to become eligible for proprietary broker-dealer quotations and continuous market making.

How many stores did Alkaline88 expand to under Wright's previous leadership?

Under Wright's previous leadership, Alkaline88 expanded its presence to over 75,000 stores across all trades in the United States.