The Alkaline Water Company (NASDAQ: WTER) (CSE: WTER), the country’s largest independent alkaline water company and the Clean Beverage(R) company, today announced that its board of directors approved a 15-for-1 reverse stock split of the company’s authorized and issued and outstanding shares of common stock, which will be effective under Nevada law on April 5, 2023. According to the update, the company’s common stock will continue to trade on the Nasdaq Capital Market under the current trading symbol, WTER, and will be open for trading on a split-adjusted basis on April 5, 2023. As a result of the reverse stock split, the company’s authorized common stock will decrease from 200,000,000 shares, with a par value of US$0.001 per share, to 13,333,333 shares of common stock, with a par value of US$0.001 per share. The number of its issued and outstanding shares of common stock is expected to decrease from approximately 152,080,692 to approximately 10,138,713. The Alkaline Water Company’s authorized preferred stock will not be affected by the reverse stock split. In association with the reverse stock split, the company’s CUSIP number will change to 01643A306 as of April 5, 2023. The company is effectuating the reverse stock split to increase the per share trading price of its common stock in order to satisfy the US$1.00 minimum bid price requirement for continued listing on the Nasdaq Capital Market.
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About The Alkaline Water Company
The Alkaline Water Company is the Clean Beverage(R) company making a difference in the water you drink and the world we share. Founded in 2012, The Alkaline Water Company is headquartered in Scottsdale, Arizona. Its flagship product, Alkaline88(R), 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 its trademarked label: Clean Beverage. In 2021, The Alkaline Water Company was pleased to welcome Shaquille O’Neal to its board of advisors and to serve as the celebrity brand ambassador for Alkaline88. To purchase The Alkaline Water Company’s products online, visit www.Alkaline88.com. To learn more about the company, visit www.TheAlkalineWaterCo.com.
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