American Premium Water CEO Ryan Fishoff Announces 80% Debt Reduction, Balance Sheet Improvements
PLAYA VISTA, Calif., Nov. 13, 2017 (GLOBE NEWSWIRE) -- Following his recent appointment as CEO of American Premium Water Corporation (OTC:HIPH), the producer of Lalpina Hydrogen Water and Gents luxury accessories, Ryan Fishoff has announced that the company has executed one of his strategic goals by strengthening the balance sheet through a significant debt reduction.
“I‘m very happy to report that HIPH has successfully reduced its derivative and convertible debt obligations by over 80%. This demonstrates our commitment to execute our long-term strategy to increase shareholder value. More details will be available in our Q3 filings, which will be released soon,” commented the HIPH CEO.
The debt reduction is the first part of a multi-point growth plan Fishoff has outlined for HIPH, which includes raising capital, investment and expansion of the LALPINA and Gents brands, strategic partnerships and M&A.
Added HIPH founder Alfred Culbreth, “The reduction is really key, as it will now allow us to focus on the next phase of the plan and stay on track to release LALPINA CBD Hydrogen Water in first half of 2018,” he added.
“Now that we’ve dramatically reduced our debt,” explained Fishoff, “we can shift the focus to other aspects of our growth strategy that will increase long term shareholder value. We are in discussions with a number of parties for strategic partnerships that will help both brands grow. I am always keeping an ear open for M&A opportunities. I have a few in mind, and am hoping to complete an acquisition or two over the next few quarters.”
Launched in November 2012, The New York-based Gents is a producer of luxury hats and other fine accessories and apparel. Their line is carried in over 200 retail outlets internationally, including Bloomingdale’s, Nordstrom and Saks Fifth Avenue.
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For more information on American Premium Water Corporation / HIPH, go to http://www.LalpinaHydrogen.com/Investor-page.html
About Gents - Gents is a luxury lifestyle brand offering consumers the highest quality product with a fashionable and sophisticated design aesthetic.
Visit www.GentsCo.com to learn more.
This press release is issued on behalf of the Board of Directors by Alfred Culbreth, CEO and Director.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
Disclaimer Regarding Forward Looking Statements
Certain statements in this press release, on American Premium Water Corporation’s (“APWC”) website and other oral and written statements made by APWC from time to time are “forward-looking statements”, as that term is defined in Section 27A of the United States Securities and Exchange Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, Forward-looking statements include, without limitation, statements regarding beliefs, objectives, intentions, goals, plans, strategies, financial projections, any other statements regarding the future and any statements that are not purely historical. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and APWC expressly disclaims any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date thereof. All forward-looking statements, whether written or oral and whether made by or on behalf of the APWC, are expressly qualified by these cautionary statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. APWC’s expectations, beliefs and projections are expressed in good faith and are believed by the APWC to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished. A variety of factors, many of which are beyond APWC’s control affect APWC’s operations, performance, business strategy and results and could cause the actual results, performance or achievements of APWC to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For APWC, particular uncertainties arise, amongst others but not limited to and not in any order of importance, from (i) focusing on and allocating more resources on certain target markets (ii) the possibility to raise further equity and debt to fund future growth, (iii) changes in demand for APWC’s products, (iv) performance issues with key suppliers, affiliates, agents, advisors or subcontractors, (v) changes in government changes in laws or regulations to which APWC or its suppliers are subject, including environmental laws and regulations relating to water or water sources and (vi) the inability to complete announced acquisitions, difficulty or unanticipated expenses in connection with integrating acquired businesses and the risk that anticipated synergies and opportunities as a result of acquisitions will not be realized or the risk that acquisitions do not perform as planned, including, for example, the risk that acquired businesses will not achieve revenue projections.
THIS NEWS RELEASE HAS BEEN PREPARED BY APWC’S MANAGEMENT, WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NO SECURITIES REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.
American Premium Water Corporation 12777 Jefferson Blvd. Suite 300 Playa Vista, CA 90066-7408 (888)-983-0054
Stock Symbol: HIPH
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