ALKM - Alkame Secures $1 Million Operating Credit Line
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LAS VEGAS, Oct. 21, 2021 /PRNewswire/ -- Alkame holding, Inc. (OTC PINK: ALKM) has completed the revolving finance agreement with its private equity lender and largest shareholder. Under the agreement, the Company has ability to draw down on the line based on a percentage of purchase orders it has received from clients upon approval of the lender. In addition, upon lender approval, the Company can utilize the line for certain expenditures such as additional equipment required to meet special needs, ramp up production capabilities, and purchase raw materials required for production. The revolving facility does not involve a share issuances or convertible debt.
To date the company has drawn down $57,500 of the facility.
"The credit facility is the final step in providing inventories necessary to co-pack for several large customers and providing the ability to secure certain equipment necessary to meet their needs. We have never been more ready to take on new business as we are today, and we continue to add key pieces of equipment to be utilized for the business," stated Alkame CEO Robert Eakle "This is a very important milestone for Alkame," Eakle continued. "We are committed to increasing shareholder value and will continue to grow our company to the next level and achieve the growth and success that we know is attainable. Use of this line of credit allows us to get there quicker. The Covid pandemic may have made it tough on us but with this secured line of credit, we can accelerate our growth without the issuance of additional stock or convertible debt connected with this transaction as we further our growth."
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 treatments and solutions to both new and existing business platforms.
For more information, visit www.alkameholdingsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE Alkame Holdings, Inc.
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