Boreal Water Collection has almost
Completed all the Retirement of All Convertible Notes from Its
Balance Sheet
Program strengthens company's balance sheet, represents major
step under re-capitalization plan
KIAMESHA LAKE, NY -- May 29, 2015 -- InvestorsHub NewsWire --
Boreal Water Collection, Inc. (OTC:
BRWC), a high end private label bottled water company from NY,
announced today that it has almost finish the retirement all of its
outstanding convertible notes held by various financing
companies. As of today we have $65,955.85 left of convertible
notes in our books.
Francine Lavoie, chief executive officer said "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; to be exact we reduce the debts by $748,478.85. We
now have only $65,955.85 left to complete the program. 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
instruments."
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:
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.
Your brand, our experience!
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.
Contact Information
Boreal Water Collection
investors@borealwater.com
www.borealwater.com