American Premium Water Corp. (HIPH) Starts Process To Retire 6 million Common Shares
PLAYA VISTA, Calif., Aug. 29, 2018 (GLOBE NEWSWIRE) -- American Premium Water Corporation (OTC Pink: HIPH) (the “Company”) announces that it has initially identified 6 Million common shares, and has begun the process to have the first retirement of shares returned to treasury. The Company will advise when this process is complete. Additionally, the first day of sales from the Company’s launch of its LALPINA Hydro CBD product surpassed internal projections.
Ryan Fishoff, CEO American Premium Water Corporation commented: “In effort to further increase shareholder value, the Company, after an exhaustive review, has identified 6 Million common shares that can be retired, and has initiated the process for retirement. We will have updates on this matter when this is completed. Taking these steps along with other developments over the past few weeks, are part of the management’s strategy to reduce debt, increase sales, diversify the Company’s businesses, and most importantly, see the increase of long term shareholder value.”
“As we look to building long term value, a key component of that strategy is entering the CBD space. The sales from the initial launch of the LALPINA CBD product have greatly exceeded our internal projections. What made the results even more encouraging was that it was on our old platform (the new site has not even launched yet) and there was not a dollar of SEO, SEM, or social media advertising spent. As the rollout continues and we begin the marketing support to the program, the Lalpina site should generate between $20,000-30,000 in monthly revenue in addition to wholesale orders.” added Mr. Fishoff.
In addition to the launch of LALPINA Hydro CBD, the Company is exploring expansion into other CBD categories. During a 10-day trip through Chicago, Los Angeles, and Las Vegas, Mr. Fishoff and management met with suppliers, distributors, and acquisition candidates in the CBD space. Additionally, as part of the Company’s efforts to become more transparent, Mr. Fishoff initiated discussions with auditors to file a Form 10 and become fully reporting.
“I had a very successful trip. There are a lot of exciting things going on in the immediate future. The consumer market’s appetite for CBD is increasingly growing. As we rollout LALPINA Hydro CBD, there are many other product categories that can incorporate CBD. I see topicals as the logical next step for us. Knowing how the Company and management want to grow, I think it's prudent for the Company to begin the process to file a Form 10 and begin the uplisting process. This will help the Company execute its growth plan quicker. I am hopeful that this could be accomplished by the end of the fiscal year. I hope to have updates on both these matters in the coming weeks and months.
For a more in-depth look at American Premium’s long-term strategy, please view this interview that Mr. Fishoff conducted on the floor of the NASDAQ exchange with former Wall Street Journal reporter Jane King https://www.youtube.com/watch?time_continue=8&v=4AfhDCjQbdI
American Premium Water Corp is the publicly holding trading company that owns LALPINA HYDRO, LALPINA HYDRO CBD, Gents, Worthy, and FashionCoinX.
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.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation
American Premium Water Corporation 12777 Jefferson Blvd. Suite 300 Playa Vista, CA 90066-7408 1-888-983-0054