Flow Beverage Corp. (TSX:FLOW)(OTCQX:FLWBF) (“Flow” or
the “Company”), today announced changes to its executive leadership
team. President and Chief Operating Officer, David Mock, will be
departing the Company, and Kevin Helfand will be promoted to Chief
Legal and Human Resources Officer.
“Flow continues to implement a more streamlined and simplified
structure to execute on its profitable growth plans. This
reorganization will empower decision making, reduce management
layers, streamline communication and allow Flow to better execute
its 2022 strategic framework. We would like to thank David Mock for
his leadership and strong commitment to Flow. He has significantly
contributed to establishing Flow as an admired brand across Canada
and the United States. We wish him all success in the continuation
of his distinguished career,” said Maurizio Patarnello, Chief
Executive Officer of Flow.
Flow’s executive leadership team will consist of Chief Executive
Officer, Maurizio Patarnello; Chief Financial Officer, Devan
Pennell; Chief Marketing Officer, Krissie Millan; Chief Revenue
Officer, Tim Dwyer; and Chief Legal and Human Resources Officer,
Kevin Helfand.
Adrian Ross has also been newly appointed to the role of Senior
Vice President of Operations. Mr. Ross has extensive international
experience in both plant operations and the delivery of technical
service solutions with companies including Tetra Pak Group and
Campbell Soup Company. Mr. Ross will be reporting to Flow’s Chief
Executive Officer.
ABOUT FLOW
Flow is a premium alkaline spring water company with a
diversified line of health and wellness-oriented beverage products
sold online and at retailers throughout North America. Flow's
premium alkaline spring water is offered in original unflavored and
a range of award-winning organic flavors, in sizes ranging from
330-ml to 1-liter.
Due to its unique artesian spring sources, Flow products contain
naturally occurring electrolytes and essential minerals, and its
original and flavored water products have an alkaline pH. As part
of its ongoing innovation into functional "better-for-you"
beverages, Flow recently introduced a new line of collagen-infused
waters with natural flavors.
Founded in 2014 by serial, mission-driven entrepreneur Nicholas
Reichenbach, Flow is highly dedicated to sustainability and is a
B-Corp Certified company with a purpose to "bring wellness to the
world through the positive power of water." Flow set out to be a
sustainable brand, packaging its products in up to 75%
renewable-resource-based Tetra Pak™ cartons utilizing sustainable
operations.
Flow beverage products are available online at
flowhydration.com, and are sold at over 20,000 stores across the
United States and Canada, including Target, Publix, Walmart,
Costco, Whole Foods Market, Loblaws, Sobeys, Metro, Shoppers Drug
Mart, Farm Boy, Sprouts Farmers Market, Safeway, Wegmans, Harris
Teeter, Giant Eagle, Bristol Farms, Raley’s, and Duane Reade, among
others.
Follow Flow on social media: Instagram
(https://www.instagram.com/flow/); Twitter
(https://twitter.com/FlowHydration); and Facebook
(facebook.com/FlowHydration).
For more information on Flow, please visit Flow’s investor
relations site at: investors.flowhydration.com
Cautionary Statement
This press release may contain “forward-looking statements”
within the meaning of applicable Canadian securities legislation.
Such forward-looking statements include, but are not limited to,
information with respect to our objectives and the strategies for
achieving those objectives, as well as information with respect to
our beliefs, plans, expectations, anticipations, estimates and
intentions. Forward-looking statements are typically identified by
the use of words such as “may”, “would”, “should”, “could”,
“expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”,
“believe”, or “continue”, although not all forward-looking
statements contain these words. Forward-looking statements are
provided for the purposes of assisting the reader in understanding
Flow and its business, operations, prospects, and risks at a point
in time in the context of historical and possible future
developments, and the reader is therefore cautioned that such
information may not be appropriate for other purposes.
Forward-looking statements are based on assumptions and are subject
to a number of risks and uncertainties, many of which are beyond
our control, which could cause actual results to differ materially
from those that are disclosed in or implied by such forward-looking
statements. Those risks and uncertainties include the following:
impact and spread of COVID-19; ability to achieve and manage
growth; failure to expand sales capabilities; changes in consumer
preferences; criticism of packaged water; maintain brand image and
product quality; constrained or unavailable spring water sources;
inability to package products; increased competition; accurately
estimating demand; maintaining relationships with distributors and
vendors; changing retail landscape; incorrect product design or
development; product information misrepresentation; revenues
derived entirely from packaged beverages; increases in costs or
shortages of materials; fluctuation of quarterly operating results;
no assurance of profitability; fluctuations in foreign currency;
changes in government regulation; contamination or recalls of
ingredients or end products; loss of intellectual property rights;
litigation; future tax rates; catastrophic events; climate change;
seasonal business; dependence on key information systems and
third-party service providers; ability to securely maintain
confidential information; maintaining and upgrading information
technology systems; conflict of interest; dual class share
structure; potential volatility of share price; no assurance of
active market for shares; lack of dividends; global financial
condition; publication of inaccurate or unfavourable research and
reports; operating history; and management and conflict of
interests. Consequently, all of the forward-looking statements
contained herein are qualified by the foregoing cautionary
statements, and there can be no guarantee that the results or
developments that we anticipate will be realized or, even if
substantially realized, that they will have the expected
consequences or effects on our business, financial condition or
results of operation. Unless otherwise noted or the context
otherwise indicates, the forward-looking statements contained
herein are provided as of the date hereof, and we do not undertake
to update or amend such forward-looking statements whether as a
result of new information, future events or otherwise, except as
may be required by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20211124006036/en/
Devan Pennell, Chief Financial Officer 1-844-356-9426
investors@flowhydration.com
US Investors: Ashley DeSimone Ashley.DeSimone@icrinc.com
Canadian investors: Marc Charbin investors@flowhydration.com
Media: Natasha Koifman nk@nkpr.net
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