Aether Global Innovations Corp. — Capital/Financing Update 2020

Apr 27, 2020

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THIS N EWS REL E ASE IS N O T FOR D I STRIBUTI O N TO U. S . NEWSWI R E SERVI C ES FOR DISS E MINATI O N IN THE UNITED S TATES

The Alkaline Water Company Announces Non-brokered Private Placement of Subscription Receipts

SCOTTSDALE, Arizona — April 26, 2020 — The Alka l ine Water C ompany In c . (NASDA Q and TSXV: W TER) (the “ Company ” ) today a n nounces, subject to r e gulatory a pproval, a nonbrokere d private pl a cement fin a ncing (the “ Financing ” ) of up to 4, 4 44,444 sub s cription re c eipts (each, a “ Subscription Receipt ” ) at a price of US$0.45 per Subscr i ption Recei p t for total gross proceed s of up to U S $2,000,000. Each Subs c ription Rec e ipt will entitle the hol d er to acqui r e, for no addit i onal consi d eration, on e unit (each , a “ Unit ”) c onsisting o f one common share (e a ch, a “ Share ” ) of the Co m pany and one transf e rable share purchase w arrant (ea c h, a “ Warrant ”) upon sh a reholder a p proval for the Financ i ng (the “ Release Condition ”). Ea c h Warrant shall entitle t h e holder th e reof to ac q uire one Share (each, a “ Warrant Share ”) for a period of three years fr o m the date of issuance thereof at a price of U S $0.55 per W arrant Sh a re, subject t o the subject t o accelerati o n if, follow i ng the issu a nce of the W arrants, the Shares ha v e a closing price on the T SX Venture Exchange ( the “ Exchange ”) or su c h other ex c hange on w hich the S h ares may be traded at s uch time) o f US$1.75 or greater per Share f or a perio d of twent y (20) consecutive trading days at any time from t he closing d ate of the F inancing, t h e Compan y may accelerate the expi r y date of the Warra n ts by giv i ng notice to the hol d ers thereo f (by dissemi n ating a ne w s release a d vising of t h e accelera t ion of the e xpiry date of the War r ants) and, in s u ch case, th e Warrants w ill expire on the thirtieth day after the date of s uch notice.

The Sub s cription R e ceipts will be convert e d into Uni t s on the d a te the Rel e ase Condit i on is satisfied . The proc e eds of the F inancing w ill be held in trust an d will not be released t o the Compan y until the Release C o ndition ha s been sati s fied. If t h e Release C ondition i s not satisfied on or befor e July 15, 20 2 0, the proc e eds of the F inancing w ill be retur n ed to subsc r ibers without i nterest or p enalty, and the Subscri p tion Recei p ts will be c a ncelled.

The pro c eeds of the Financing are expected to be used t o fund the Company’s general wo r king capital a n d expansion of produc t ion capacit y .

Finder’s fees may be payable in c onnection w ith the Fin a ncing in a c cordance w i th the policies of the Exch a nge.

None of the securities to be issued in connection with the Financing will be or have been registered under the United States Securities Act of 1933 , as amended (the “ 1933 Act ”), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities, in any state where such offer, solicitation or sale would be unlawful.

The Alkaline Water Company Inc.

Richard A. Wright President and CEO 800-923-1910

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.