The Alkaline Water Company Receives Nasdaq Notice on Late Filing of Its Form 10-Q

The Alkaline Water Company Inc. (NASDAQ: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage company, today announced that it received a deficiency letter (the "Letter") on August 23, 2023 from the Listing Qualifications Department of The Nasdaq Stock Market (the "Nasdaq"). The Letter notified the Company that since the Company had not yet filed its Form 10-Q for the period ended June 30, 2023 (the “Form 10-Q”), and because the Company did not timely file its Form 10-K for the fiscal year ended March 31, 2023 (the “Initial Delinquent Filing”), the Company does not comply with the Nasdaq’s Listing Rule 5250(c)(1) (the “Rule”) relating to the Company’s obligation to file periodic financial reports for continued listing. The Letter further stated that the Company has until September 18, 2023 to submit a plan (the “Plan”) to regain compliance with respect to the delinquent reports. The Letter also stated that any staff exemption to allow the Company to regain compliance, if granted, will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or January 10, 2024.

If the Nasdaq does not accept the Plan, the Company will have the opportunity to appeal that decision to the Nasdaq Hearings Panel.

The Company is working to satisfy the Nasdaq's requirements in a timely manner. The Company filed its Form 10-K on EDGAR on August 17, 2023. Filing the delinquent Form 10-Q would satisfy this obligation; however, there can be no assurance that the Company will regain compliance with the Rule or maintain the listing of its common stock on the Nasdaq. The Company wishes to reassure its stakeholders that it remains committed to fulfilling all requirements set forth by the Nasdaq and will leverage all available resources within its means to maintain its listing. If the Company’s common stock ceases to be listed for trading on The Nasdaq Capital Market, the Company would expect that its common stock would be traded on one of the three tiered marketplaces of the OTC Markets Group.

About The Alkaline Water Company:

The Alkaline Water Company is the Clean Beverage company making a difference in the water you drink and the world we share.

Founded in 2012, The Alkaline Water Company (NASDAQ: WTER) is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88, is a leading premier alkaline water brand available in bulk and single-serve sizes along with eco-friendly aluminum packaging options. With its innovative, state-of-the-art proprietary electrolysis process, Alkaline88 delivers perfect 8.8 pH alkaline drinking water with trace minerals and electrolytes and boasts our trademarked “Clean Beverage” label.