The Alkaline Water Company Inc. announced a non-brokered private placement of 1,100,000 series E convertible preferred shares at a price of $1 per share for proceeds of $1,100,000 on November 23, 2022. The transaction included participation from David Rauch, a director of the Company for 100,000 shares. The shares are entitles to receive dividends for 6% per annum, payable on each anniversary date of the original issue date of shares of Series E Preferred Stock held by applicable Holders in a number of shares of the common stock per share of the Series E Preferred Stock equal to the quotient obtained by dividing the dollar amount of such dividend payment by applicable market price.

The shares are convertible into units at an conversion price of $0.25 and convertible at any time after the date that is twelve months from the original issue date. Each unit consists of one common share and one-half of one common stock purchase warrant with each whole common stock purchase warrant entitling the holder thereof to acquire one additional share of the Company's common stock at an exercise price equal of 125% of the Conversion Price for a period of three years following the conversion date. The shares of the Series E Preferred Stock cannot be redeemed.

The company received the funding pursuant to exemption provided under Regulation D.