Flow Beverage’s shares rose strongly Monday after striking a deal to become the official water sponsor of entertainment company Live Nation Canada, which will make its alkaline spring water available at nearly 1,000 concerts across the country.
In morning trading, the shares were 8.5% higher at C$0.45. The stock has more than doubled so far this year, though it’s down 14% over the last 12 months.
Flow said the partnership with Live Nation will help drive food service segment growth and provide opportunities for sampling and brand partnerships, and will build on its efforts to eliminate single-use plastics, reduce greenhouse gas emissions by 50% and contribute zero waste to landfill by 2030.