Fundraising Fox

Flow Water

Ottawa, CA · 1 known investors

Flow produces naturally alkaline artesian spring water sourced from a single spring in Bruce County, Ontario, offered in original, flavored, and sparkling varieties with no added sugar or sweeteners. The water is rich in naturally occurring minerals and electrolytes and is marketed for hydration and wellness.

Also known as Flow Alkaline Spring Water · Flow Mineral Spring Water · Flow Water Inc.

Founders & leadership

NR
Nicholas ReichenbachNamed on SEC filing
MP
Maurizio PatarnelloNamed on SEC filing
TD
Tim DwyerNamed on SEC filing
JJ
Joe JackmanNamed on SEC filing
DM
David MockNamed on SEC filing
KM
Krissie MillanNamed on SEC filing
DP
Devan PennellNamed on SEC filing

Investors · 1

Reported raises · per SEC filings

Form D private placements

$158.9K disclosed across 1 of 2 rounds · 2021

$158.9KraisedMar 2021 · 1 investors · Other
Rule 506(b)
Officers, directors & promoters on the filing
  • Nicholas ReichenbachExecutive Officer, Director
  • Maurizio PatarnelloExecutive Officer
  • Tim DwyerExecutive Officer
  • Joe JackmanDirector
  • David MockExecutive Officer
  • Krissie MillanExecutive Officer
  • Devan PennellExecutive Officer
Offering amount
$255.3K
Amount sold
$158.9K
Sales commissions
$9.5K
Placement agents
STIFEL, NICOLAUS & COMPANY, INCORPORATED
First sale
Mar 2021
Incorporated
Corporation, Canada (federal Level)
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Flow Water is a beverage company that bottles naturally alkaline mineral spring water drawn from a single artesian spring in South Bruce County, Ontario, in the Great Lakes basin. The water rises from a pressurized underground aquifer through limestone, picking up minerals and electrolytes and emerging at a pH of approximately 8.1; the company states more than one million litres emerge from the spring each day and that the source has been a family spring for generations. Still water is packaged in Tetra Pak cartons made primarily from paperboard from responsibly managed forests, and the sparkling line is packaged in aluminum cans, positioned as lower-plastic alternatives to conventional bottled water [0][2][3].

The product range includes unflavored "Original Flow" in 330ml, 500ml and 1L formats, organic-flavored still waters with no sugar, calories or sweeteners (Cucumber + Mint, Peach + Blueberry, Strawberry + Rose, Blackberry + Hibiscus), and sparkling mineral spring water [0][1]. Earlier reporting also described collagen-infused and vitamin-infused variants [5]. The company was founded by Nicholas Reichenbach, launched its first Tetra Pak products in 2015, and was headquartered in Toronto [5].

In December 2025, Cizzle Brands Corporation completed the acquisition of all shares of Flow Water Inc. from RI Flow Sub LLC for approximately C$83.75 million. Immediately before closing, brand-related intellectual property and trademarks for the branded consumer packaged goods business were transferred out to a company owned by the vendor, which continues to operate the Flow brand, while the acquired entity focuses on beverage co-manufacturing and was renamed Cizzle Brands Manufacturing Inc., with its Aurora, Ontario facility rebranded the CWENCH Hydration Factory [6][7].

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Acquisition purchase priceDec 202583,750,000 CAD
Customers in North AmericaMar 202117,500,000 customers
E-commerce share of businessMar 2021almost 20%
Pro forma revenue contribution of Manufacturing Business, fiscal 2027Dec 2025$46.5M
Pro forma revenue contribution of Manufacturing Business, H2 fiscal 2026Dec 2025$21.5M
Retail doorsMar 202125,000 stores
RevenueJan 2020$25M
Revenue growth YoYJan 202044%
Total assetsMar 2021north of $100m
Water pH at sourceJan 20268.1 pH

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Timeline · 4

launches, deals, and filings
Dec 2025
Cizzle Brands acquires Flow Water Inc.'s co-manufacturing business

Cizzle Brands Corporation closed the acquisition of all issued and outstanding shares of Flow Water Inc. from RI Flow Sub LLC for approximately C$83.75 million, after the Flow brand-related IP and trademarks were spun out to a vendor-owned company. The acquired entity was renamed Cizzle Brands Manufacturing Inc.

source ↗

Mar 2021
Plans reverse merger and Toronto Stock Exchange listing

Flow announced a going-public transaction via reverse merger, with the stock expected to list on the Toronto Stock Exchange in the first half of 2021, alongside a raise of a minimum of CAD$65m (US$52m), of which CAD$30m was committed by existing shareholders.

source ↗

Mar 2021
Maurizio Patarnello appointed CEO

Former Nestle Waters head Maurizio Patarnello was brought out of retirement to join Flow as CEO; Tim Dwyer served as chief revenue officer.

source ↗

Jan 2015
First products launched in Tetra Pak cartons

Flow launched its first naturally alkaline spring water products, packaged in Tetra Pak cartons.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Flow Water do?
Flow Water sells naturally alkaline artesian spring water from Ontario in Tetra Pak cartons and aluminum cans.
Who are Flow Water's investors?
Flow Water's investors include East West Ventures EWV.
How much funding has Flow Water raised?
Flow Water has disclosed $158.9K raised across 1 of its 2 known rounds.
Where is Flow Water headquartered?
Flow Water is headquartered in Ottawa, CA.