Transaction establishes operational manufacturing presence in Western Canada and expands WTER's scalable private label production capabilities across North America

GLENDALE, AZ / ACCESS Newswire / June 2, 2026 / The Alkaline Water Company, Inc. (OTC:WTER) today announced the execution of a Letter of Intent ("LOI") to acquire 100% of the equity of Eureka Beverages Inc., an Edmonton, Alberta-based bottling and canning company focused on private label beverage manufacturing and co-packing services.

The proposed acquisition is expected to expand WTER's North American manufacturing footprint, strengthen its Canadian private label capabilities, and provide additional operational infrastructure to support future growth initiatives across multiple beverage categories.

Strategic Highlights

Established Operational Infrastructure

Eureka operates a Health Canada-compliant beverage production facility in Edmonton, Alberta equipped with multiple operational production lines supporting bottled and canned beverage manufacturing. The facility includes bottle blowing equipment, dock and grade loading capabilities, and infrastructure designed to support scalable production growth.

Expanded Canadian Commercial Presence

The transaction is expected to provide WTER with an established operational presence in Western Canada and customer relationships across grocery, convenience, foodservice, and private label beverage channels.

Scalable Private Label Platform

Eureka currently supports a variety of beverage categories including purified water, spring water, distilled water, and flavored carbonated beverages, with future expansion opportunities into additional beverage segments.

Capital Efficient Expansion Strategy

The proposed transaction structure is designed to preserve liquidity while expanding operational capacity and accelerating WTER's manufacturing and private label growth strategy.

Proposed Transaction Terms

Under the terms of the LOI, the proposed purchase price consists of:

• USD $1,000,000 in cash

• CAD $6,000,000 in restricted WTER common stock

The cash consideration is expected to be paid in installments, including:

• USD $250,000 within 60 days following execution of a Definitive Agreement

• Remaining balance payable in equal monthly installments beginning August 2026 over a nine-month period

Restricted equity consideration is expected to be issued upon satisfaction of the cash consideration obligations. Eureka is expected to retain operational and financial control of the business until completion of payment obligations and closing conditions.

Management Commentary

"This transaction represents an important step in strengthening WTER's operational infrastructure and expanding our North American manufacturing capabilities," said David Guarino, CFO of The Alkaline Water Company. "We believe Eureka provides an established operational platform with meaningful production capabilities and customer relationships that align with our long-term growth strategy."

"We've spent years building operational infrastructure, production capabilities, and customer relationships throughout Western Canada," said Badre Tijini, President of Eureka Beverages Inc. "We believe partnering with WTER creates an opportunity to further scale the platform and support long-term growth across the private label beverage sector."

About The Alkaline Water Company, Inc.

The Alkaline Water Company, Inc. (OTC:WTER) produces premium alkaline water and functional beverages distributed through retail, convenience, and foodservice channels across the United States and Canada.

About Eureka Beverages Inc.

Eureka Beverages Inc. is an Edmonton, Alberta-based beverage bottling and canning company serving private label and co-packing customers throughout Western Canada from its Health Canada-compliant production facility.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws, including statements regarding the proposed acquisition, expected operational benefits, future growth opportunities, production capabilities, financing plans, and anticipated business performance. Actual results may differ materially from those expressed or implied due to various risks and uncertainties, including but not limited to the negotiation and execution of a Definitive Agreement, completion of due diligence, financing availability, integration risks, market conditions, operational execution, and other factors beyond the Company's control. The Company undertakes no obligation to update forward-looking statements except as required by law.

Investor Relations
ir@thealkalinewaterco.com
www.thealkalinewaterco.com

SOURCE: ALKALINE WATER Co INC