Alkaline Water receives Nasdaq delisting notice for failing independent director rule

ALKALINE WATER Co INC

Letter from Nasdaq staff on June 21, 2022 cites non-compliance with Listing Rule 5605.1.
Cause: resignation of CEO/director Richard Wright and CEO appointment of Frank Lazaran reduced independent directors to two.
Cure period extends until earlier of next annual meeting or June 2, 2023 (or Nov 29, 2022 if annual meeting before then).
Company plans to regain compliance within the cure period and is actively seeking new independent directors.
Failure to cure may result in delisting; company may appeal to a hearings panel.

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