Dominion Water Reserves Announces Portfolio of 10 Freshwater Reserves With Increased Volume Under Permit Following Consolidation of Aquanor
MONTREAL, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Dominion Water Reserves Corp. (“DWR” or the “Company”), is pleased to announce its recent developments
and diversified portfolio of 10 spring water sources consolidated after a recent definitive share purchase agreement with Aquanor Inc. DWR has thereby acquired 100% interest in the St-Joseph de
Coleraine water source, a freshwater reserve representing an estimated 0.7% of Quebec’s total volume under permit. This unique 13 ppm silicon water quality is attractive for the specialty water
market, featuring numerous health and wellness benefits and a generous 71 million liters per year of permitted extraction volume. As part of the Acquisition, DWR has secured a 25-year water sale
contract with Aquanor to sell the specialized water in recyclable packaging, with initial distribution in the IGA Disraeli, Quebec location.
This acquisition complements DWR’s operations, as its primary business being a consolidator of the water industry by acquiring fresh spring water permits and developing operations across Quebec, with prospective plans to expand across North America. DWR currently controls more than 3 billion litres of spring water, acquired and currently under permit, alongside a diversified portfolio of 10 freshwater sources which includes the biggest well in Quebec with over 2 billion permitted litres of extraction per year and two deep seaport sources with considerable volume. DWR is strategically positioned to increase its holdings and become a dominant player in freshwater reserves, water technology and distribution, with a current 30.4% share of Quebec’s spring water sources secured through acquisitions and options. Given DWR’s current trajectory, the company is positioned to secure over 50% of Quebec’s current natural underground reserves of freshwater, representing over 7.5 billion litres of annual extraction volume and over 1000 acres of land, amounting to an astounding 1%-1.3% of the world’s freshwater reserves.
Among DWR’s specialty 13 ppm water source, the company aims to stand apart by its procured unique glacier water source which is one of only two permitted esker reserves in Quebec and the second largest source in authorized volume, containing 9.4% of the volume of Quebec permitted extraction. This strategically located esker reserve also exhibits exceptional water quality for specialty products resulting from a natural filtration process, adding a unique proposition to DWR’s important volume of spring water under management that stands today at 3.22 billion litres acquired and under option.
The global market for bottled water poised to reach US$307.6 billion by 2025, driven by the needs of a growing world population expected to reach 9.8 billion by 2050. With Canada’s retail sales of bottled water forecast to reach over US$4.4 billion by 2022, DWR is in a prime position to cater to this growing demand. Based on current esker and silicon spring water reserves with a combined annual permitted debit of over 1B liters, at a $0.005 per liter price point secured through the Aquanor water sale contract, DWR is in a position to achieve strong potential revenues within the next 12 months subject to securing additional distribution contracts.
About Dominion Water Reserves Corp.
DWR’s operations are based in Quebec, with its primary business being a consolidator of the water industry by acquiring fresh spring water permits and developing operations across Quebec with plans to expand across North America. DWR currently controls more than 30% of Quebec’s volume of fresh groundwater reserves currently under permit and is strategically positioned to increase its holding. DWR’s mission is to acquire, manage and develop spring water assets building a critical mass in terms of capacity and strategically securing a leadership role in North America’s fresh spring water. The corporation prioritizes sustainability and environmental consciousness. A strong governance structure is in place to ensure that the corporation carries out its business responsibly, applying the highest social and environmental standards.
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SOURCE: Dominion Water Reserves Corp.
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