CALGARY, ALBERTA - January 14, 2013 (Investorideas.com Water Stocks Newswire) Arrowhead Water Products Ltd. ("Arrowhead" or the "Company") (TSX VENTURE:AWA) advises that, as previously announced, it entered into a Letter of Intent and a Right of First Refusal Agreement with a private third party purchaser (the "Purchaser") to sell substantially all of the assets (the "Assets") of Arrowhead (the "Transaction"). The Purchaser, Ice River Springs Water Co. Inc. (" Ice River "), has now exercised its option under the Right of First Refusal Agreement to purchase Arrowhead's Assets for an aggregate purchase price of $1,650,000. Ice River is a private company based in Shelburne , Ontario with ten plants throughout Canada and the United States . Focused on environmental sustainability, Ice River operates a closed loop recycling facility in Ontario and is the first beverage company in North America to produce a 100% recycled bottle from self-manufactured resin.
Arrowhead anticipates that the closing of the Transaction shall occur on or about February 15, 2013 following a meeting of its shareholders called to approve the Transaction. The Transaction is also subject to certain regulatory approvals, including approval from the TSX Venture Exchange. The Company plans to hold an Annual and Special meeting of its shareholders at 10:00 a.m. on Friday, February 15, 2013 to approve annual meeting matters and the Transaction. A proxy and information circular in connection with such meeting will be mailed to all shareholders on or about January 20, 2013.
As previously announced, Arrowhead outsourced all 15-litre water bottling operations to Ice River in November, 2012 and Ice River will continue to deliver Arrowhead's premium bottles of natural spring and reverse osmosis water to the Western Canadian retail and wholesale market. Arrowhead is and Ice River will be the only bottled water companies in Alberta currently engaged in the production, sale and distribution of the new one way, environmentally friendly, bisphenol A free, 15-litre water bottle.
14,492,229 Common Shares Issued
READER ADVISORY Neither the 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.
Arrowhead Water Products Ltd. Donald W. Wood President and Chief Executive Officer (403) 692-8259 email@example.com
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.