Business
ALKM - Alkame Secures $1 Million Operating Credit Line
ALKM - Alkame Secures $1 Million Operating Credit Line.
About this update from Alkame Holdings, Inc.
[{"type":"text","content":"\n\n\n\nALKM - Alkame Secures $1 Million Operating Credit Line\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nALKM - Alkame Secures $1 Million Operating Credit Line\nPR Newswire\nLAS VEGAS, Oct. 21, 2021\n\n\n\nLAS 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.\nTo date the company has drawn down $57,500 of the facility.\n\"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.\"\nAbout Alkame Holdings, Inc.\nAlkame 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 manufac...