ALKM – Alkame Holdings Restructures Even More Debt Further Reducing Number Of Shares That Could Be Issued To Service Debt
LAS VEGAS, NV, Sept. 07, 2021 (GLOBE NEWSWIRE) -- Alkame Holdings, Inc. (OTC PINK: ALKM), is pleased to announce that management continues the strengthening of its balance sheet with the execution of a debt restructuring agreement with Blue Citi LLC.
The Company's strategic debt restructuring with Blue Citi LLC, has resulted in an agreement to restructure four convertible notes held by Blue Citi. The notes, totaling $988,000 in principle also carried accrued interest of approximately $350,000.00. Blue Citi has agreed to a restructuring of the loans and the nullification of all accrued interest, and elimination of further interest accruals going forward.
"This major debt restructuring coupled with last week's conversion of $100k in debt at $.01 has substantially reduced the dilutive effect on the Company's capital structure. Most importantly, the elimination of future interest accruing on these notes eliminates approximately $1.0 million in debt and sets Alkame on a path to secure new credit facilities supporting the Company's expected growth in the coming months. This restructure is the next step in strengthening Alkame's balance sheet as we look forward to gear up for an exciting end of the year and a strong 2022 and beyond," stated Robert Eakle CEO.
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.
Alkame Holdings, Inc. Investor Relations
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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