NEW YORK, May 19, 2009 (GLOBE NEWSWIRE) -- AQUAGOLD INTERNATIONAL (Pink Sheets:AQUI), a global distributor of premier Canadian spring water products, announces the successful completion of Phase One of its operating plan. As a result of production issues last year, AQUAGOLD embarked upon a plan to strengthen professional management. It has built a strong team to deliver on its commitment to the markets, including the need to redesign its packaging and labels, as well as to successfully implement a high quality, reliable bottling operation to deliver product for export to China.
In Phase One, the company designed and developed its flagship product, the 500 mL bottle of premier Canadian spring water bearing its name, and successfully orchestrated the factors of production requisite to produce a first-class product. The Company is focusing on quality control and logistics management as it prepares its first commercial shipment which was recently commissioned for production and is scheduled for completion around the end of this month.
AQUAGOLD INTERNATIONAL pursues a market-driven business model. It completed Phase One only after establishing strong relations in China that resulted in contracted demand for its product. Management believes its counterparties in China share its vision to brand and distribute its product in market segments that provide strong, long-term opportunities for success. The Company expects to soon be able to announce the result of renegotiations of a multi-year contract originally entered into last year, and is also in the process of developing its second product for a specific sub-segment of the Chinese bottled water market.
"Phase Two begins when our first shipment is loaded onto the carrier and is on its way to China," states Daniel Sauve, CEO and president. "The new management team brought on from the beginning of this year has actualized the first concrete step in our vision to deliver what we believe to be the finest premier Canadian spring water to the world. The new team, in close cooperation and mutual integration with our original management team, has realized that which we could not do alone. It is exciting to finally see our vision unfold, and we look forward to first recording what we believe will be just the beginning of many years of financial reward for our shareholders who have remained loyal to us through the past year of preparation for this time."
About AQUAGOLD INTERNATIONAL
AQUAGOLD INTERNATIONAL is pursuing its mission to provide premier Canadian spring water products to the world. Its vision is to distribute its products globally and to become a leading distributor of some of the most recognized brands in the market. The Company's mission and vision have begun in China with its first bottled water product, AQUAGOLD Premier Canadian Spring Water.
The information in this press release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. Except for historical information contained herein, all such statements included in this press release are forward looking statements and are made by AQUAGOLD INTERNATIONAL, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. All forward-looking statements are based upon information currently available. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurances that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. Numerous factors could cause or contribute to such differences. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, consumer spending, changes in the law or regulations, demand for products and services of the company, the competitive environment within the industry, the economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.