Publicly traded health and wellness technology holding company, Alkame Holdings Inc (OTCMKTS:ALKM) on September 20, 2021, announced the execution of a debt restructuring agreement with Blue Citi LLC for restructuring of $100,000 in Promissory notes.
Blue Citi LLC will restructure $100,000 at a 12% interest Promissory notes through instant conversion of the balance into Alkame Holdings common shares at a fixed price of $0.01 per share. This would help in strengthening Alkame’s balance sheet as the firm negotiates for securing a line of credit to support it well into 2022.
Robert Eakle, CEO of Alkame, said that though the first half of the year had some challenges, the company has finished the move towards a new production facility during the pandemic. Eakle added that it is witnessing an uptick in demand and hence the new facility can respond to customer demand besides handling the many aspects of a co-packing business.
Eakle is optimistic about speeding up processes for ramping up production capacity as the restructuring efforts can bolster production capability as well as financial capabilities going forward.
The company also announced that its wholly-owned subsidiary, Bell Food & Beverage Inc. received a purchase order from Kona Gold LLC., a wholly-owned subsidiary of Kona Gold Beverage Inc for producing and bottling the firm’s HighDrate CBD infused energy water.
This order calls for the production of 6flavors of premium CBD-infused energy-water utilizing Alkame’s exclusive proprietary technology.
