CANADA: Sparkling Spring Water Holdings Limited Completes Placement of US$10 Million In Common Equity
"We are delighted to welcome Egeria to the Holdings shareholder group and are pleased with the confidence shown in our business by this significant investment" said G. John Krediet, Chairman of Holdings. Mr. Krediet added "Holdings presently intends to use these funds to support further acquisitions in the Home and Office Water Business either directly or through newly created subsidiaries. Holdings plans to not only add Companies in North America and the United Kingdom but also is planning expansion to the European continent. Group's access to financing under existing bank lines will be utilized to support continued expansion as well."
Peter Boersma, Managing Director of Egeria, stated, "We are very excited about the Home and Office water business and are delighted to be able to invest in a market leader like Sparkling Springs. We were attracted by their excellent and high caliber management team, acquisition expertise and the strong cash flow generated by the business. We believe Sparkling Springs is ideally positioned for growth in continental Europe, a market which is about to take off, as well as further expansion of its North American operations."
Egeria B.V., headquartered in Amsterdam, Netherlands, is an European privately held investment fund with over US$250 million under management.
Sparkling Spring Water Group Limited is a leading producer and distributor of bottled water to the home and office segment. The Company does business as "Nature Springs" in England, "Water at Work" in Scotland, "Sparkling Springs" in the Atlantic Provinces of Canada, "Canadian Springs" in British Columbia, Canada, "Cool Spring", "Sparta" and "Rocky Mountain Springs" in Alberta, Canada and in the United States, "Cullyspring" and "Crystal Springs" in Washington and "Crystal Springs" in Oregon.
The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in such statements. The results could be affected by, among other things, general business conditions, the impact of competition, weather, the seasonality of the Company's business, the ability to obtain financing, interruption in the availability of water from the Company's water sources, government regulations, labor relations and currency fluctuations. Investors also should consider other risks and uncertainties described in further detail in documents filed by the Company with the Securities and Exchange Commission.
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