FLC inc. cancelled the acquisition of Water Direct Corporation in a reverse merger transaction.
April 14, 2017
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FLC inc. agreed to acquire Water Direct Corporation (TSE:2588) in a reverse merger transaction on April 15, 2016. Under the terms of the transaction, 13.66 million shares of Water Direct will be issued. 1 share of FLC will be exchanged for 530 shares of Water Direct and 1 preferred stock of FLC will be exchanged for 0.5 5th series corporation bonds of Water Direct. Post acquisition, Water Direct's name will change to Premium Water Holdings, Inc. The transaction is expected to close on July 1, 2016.
FLC inc. cancelled the acquisition of Water Direct Corporation (TSE:2588) in a reverse merger transaction on April 15, 2017.
Premium Water Holdings Inc is a Japan-based company mainly engaged in the manufacture and sale of natural mineral water and home office delivery business which manufactures natural mineral water. The main product is 12L natural mineral water, which includes in-house production and original equipment manufacturer (OEM) production in Fujiyoshida City, Yamanashi Prefecture; Asago City, Hyogo Prefecture; Asago City, Hyogo Prefecture; Omachi City, Nagano Prefecture; Hamada City, Shimane Prefecture and Minamiaso Village, Aso County, Kumamoto Prefecture. The Company provides mineral water delivery services centered on the brand PREMIUM WATER mainly through the three sales methods of direct sales, distributors, original brand name (OEM) and through demonstration sales, WEB and telemarketing. The Company lends water servers to customers of direct sales, distributors and special agents, and wholesales water servers to customers of agents. The Company also conducts as a sales representative.
PREMIUM WATER HOLDINGS,INC. 
