Alkame Restructures Financial Obligation with Largest Debtholder
ACCESSWIRE - 16 mins ago
LAS VEGAS, NV / ACCESSWIRE / September 1, 2021 / Alkame Holdings, Inc. (OTC PINK:ALKM), is pleased to announce that the company has executed a debt restructuring agreement with Blue Citi LLC to restructure a $100,000 in Promissory notes.
Blue Citi LLC has agreed to restructure its $100,000, 12% interest Promissory notes through an immediate conversion of the balance into Alkame Holdings common shares at a fixed price $0.01 per share. This restructure is the first step in strengthening Alkame's balance sheet as the Company negotiates to secure a revolving line of credit to support the company's expected co-packing growth through the end of this year and well into 2022.
"While the first half of the year was challenging as we worked to complete our move to a new production facility during the pandemic, we are already seeing a large uptick in demand and by extension, production needs. Our new facility allows us to move forward as a Company that can respond to customer demand and handle the complexity of the many aspects of our co-packing business. We look forward to adding additional production capacity at our facility to speed up our processes as we ramp up production capacity for an exciting 2022" stated Robert Eakle, CEO of Alkame, "as we indicated, our restructuring efforts are aimed at strengthening both our production capability and our financial capabilities going forward."
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded health and wellness technology holding company, with a focus on patentable, innovative, and eco-friendly consumer products. The Company's wholly owned subsidiaries manufacture products with enhanced water utilizing a proprietary technology to create products with several unique properties. The organization is diligently building a strong foundation through the launch and acquisition of appropriate business assets, and by pursuing multiple applications by placement into several emerging business sectors, such as consumer bottled water and RTD products, household pet products, horticulture and agriculture applications, hand sanitizers, and many other various water-based treatment solutions to both new and existing business platforms.
For more information, visit www.alkameholdingsinc.com .
