It was a stellar month of May for The Alkaline Water Company (OTCQB:WTER)(TSX-V:WTER), with shares bolting ahead from $1.00 to a high of $1.86, with no news to speak of other than closing a non-brokered private placement yesterday raising gross proceeds of $3.85 million.
Not surprisingly, some profit taking pulled shares back to a low of $1.48 (hit Thurday), but shares on are on the move again as the weekend draws near.
Friday morning, the Scottsdale, Arizona-based maker of Alkaline88, a premier alkaline water with a pH of 8.8, said that Big Y World Class Markets is now selling Alkaline88 in both its one-gallon and one-liter sizes at more than 70 of its retail locations in New England. The additional stores cater to over 10 million customers annually.
Based in Springfield, MA, Big Y is one of the largest independently-owned supermarket chains in the Northeast U.S. Operating for 82 years, Big Y has nearly 80 stores in Massachusetts and Connecticut.
The new sales channel will be added to The Alkaline Water Company's growing list of retailers that now has its products on shelves in over 40,000 retail locations all across the U.S.
To that end, WTER president and chief executive officer Richard Wright said in today's news release, "Big Y World Class Markets will undoubtedly contribute to the record sales growth we expect to see throughout FY 2019."
The optimistic outlook and continued expansion has shareholder snapping up the stock again today. By the close of Friday's trading session, shares of WTER were up or one cent at $2.01.
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