KIAMESHA LAKE, N.Y., Feb. 9, 2016 /PRNewswire/ -- Boreal Water Collection, Inc. (OTC: BRWC), an established water bottler of premium private-labeled bottled water products tailored for each client's particular need, today issues the following updates.
In the Fall of 2015, we were able to get interest from a large international group from the UAE and Saudi Arabia for buying our water. In December 2015 and January 2016, we conducted water tests required from these buyers. Results have been positive, so our legal teams are now working on the contracts and we expect to sign these long term supply contracts in the first quarter of 2016. The proposed initial ship date is April 1, 2016 and the term for the contract will be 5 years.
In the last 3 months, International Capital LLP (Intercap), our London England based financial advisor, was able to raise capital to finance the growth and the expansion of Boreal Water. Intercap currently raised $500,000 in debenture with warrants priced at $0.0075 from 2 investors in Saudi Arabia.
Boreal was able to lock in its right of "first refusal" on purchasing Alpine Spring property. Currently the company is paying $65,000 per year with on a long term lease that was to expire Oct 31, 2035, making a minimum future payment of $1,605,824. Instead of paying these fees, the company will purchase Alpine Springs for an amount of $600,000. This purchase will be very beneficial to the company and permits the company to control its own water springs. The property consists of 130 acres of land.
During 2015, our export sales to China were not as good as projected by our clients in their contracts with us. The slowdown in the Chinese economy and the currency devaluation affected their sales. Boreal however attended trade shows and won the 2nd price as the best tasting water at the China High-end water Exhibition. In August 2015, Boreal succeeded in obtaining the copyrights on its Boreal Baby Water products so it can protect itself against possible copies. Boreal Water management still projects that its baby water product line will increase its sales in the coming years in the Chinese market. Presently our products are in many high-end retail outlets and online retailers. Our baby water is recognized in China as being pure, sodium free, BPA free, and bromate free with low mineral content and a balanced PH. Those are all perfect conditions for quality baby water to become a successful brand in China.
Finally, we have decided to file, on the OTC market, our unaudited financial statements to be current with our OTC filings. When possible, we will file audited financial statements to SEC.
About Boreal Water Collection, Inc.
"Your brand, our experience!" Boreal Water Collection is a personalized bottled water corporation specializing in providing premium custom bottled water for your company and customers. Whether it is for publicity, promotion, marketing, internal use or a specific event, Boreal offers fully integrated turnkey service, with prize-winning Boreal private label water, made-to-order labeling, and distinctive water containers. Unlike competitors, Boreal also has exclusive access to two pristine and abundant springs: one an award-winning source deep in the untouched wilds of Canada and the other in the prestigious Catskill Mountains in New York.
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SOURCE Boreal Water Collection, Inc.