Alkame Secures $1 Million Adjustable Line of Credit

Rhea-AI Summary

Alkame Holdings, Inc. (OTC Pink: ALKM) has announced a $1.0 Million Revolving Line of Credit, secured with its private equity lender. This agreement allows Alkame to draw funds based on approved purchase orders and use them for essential expenditures, such as equipment and raw materials, without issuing new shares or convertible debt. So far, $57,500 has been drawn. The CEO stated this credit facility will accelerate growth and enable the company to fulfill large customer orders, overcoming challenges posed by the Covid pandemic.

Positive

• Secured a $1.0 Million Revolving Line of Credit, enhancing financial flexibility.
• Allows for funding of inventories and essential equipment without share issuance or convertible debt.
• $57,500 has already been drawn, indicating initial utilization of funds.
• CEO expresses confidence in scaling operations to meet large customer demands.

Negative

• None.

Alkame Holdings, Inc. (OTC Pink: ALKM) announced today it has secured a $1.0 Million Revolving Line of Credit.

LAS VEGAS, NV / ACCESSWIRE / October 21, 2021 / Alkame holding, Inc. 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.

Alkame Holdings, Inc. Investor Relations

Website: www.alkameholdingsinc.com

Email: info@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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https://www.accesswire.com/669056/Alkame-Secures-1-Million-Adjustable-Line-of-Credit

FAQ

What is the significance of Alkame Holdings' $1.0 Million Line of Credit?

The $1.0 Million Line of Credit enhances Alkame's financial flexibility, allowing it to fund inventories and equipment without issuing new shares.

How much has Alkame drawn from its new credit facility?

Alkame has drawn down $57,500 from the $1.0 Million credit facility.

Will Alkame Holdings issue new shares or convertible debt for this financing?

No, the credit facility does not involve the issuance of new shares or convertible debt.

What is the purpose of the new Line of Credit for Alkame Holdings?

The Line of Credit is intended to fulfill large customer orders and invest in necessary equipment for production.

Who is the lender for Alkame's Line of Credit?

The lender is Alkame's private equity lender and largest shareholder.