SBI to Market Canadian Firm’s Iceberg Water

Glendale-based SBI Communications Inc. said it signed an agreement with Iceberg Industries Corp. to market the Canadian company’s bottled water, which comes from melted icebergs. The deal is limited to the United States. St. John’s, Newfoundland-based Iceberg Industries uses tugboats to tow 100,000-year-old icebergs to shore, where they are crushed, melted and the water tested. The water is also used in a line of vodka and a line of beer under the brand Borealis. Under terms of the deal, SBI will get $9 million in revenue per annum. Shares of the media, marketing and entertainment company rose 22 cents to close at 69 cents in over-the-counter trading. Separately, the company said it is considering a reverse stock split among other options in response to shareholder concerns about share price. SBI has 6 million shares outstanding.