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

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 July 18, 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-K for the year ended March 31, 2023 (the “Form 10-K”), it no longer complies 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 60 calendar days to submit a plan (the “Plan”) to regain compliance and if the Nasdaq accepts the Plan, the Nasdaq can grant an exception of up to 180 calendar days from the Form 10-K’s due date, or until January 10, 2024, to regain compliance.

The Letter requested that the Company submit the Plan no later than September 18, 2023. 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. Filing the delinquent Form 10-K 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.