Alkame Holdings, Inc. announced that it expects to receive $0.5 million in funding
April 16, 2017
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Alkame Holdings, Inc. (OTCPK:ALKM) announced that it has entered into purchase agreement of 8% convertible debentures for gross proceeds of $500,000 on April 17, 2017. The debentures carry interest rate of 8% per annum and will mature one year from date of issuance. The company will issue securities at 10% discount for principal value of $550,000. Each debenture is convertible into common share of the company at the lower of 70% of the lowest trading price of the share as reported on the exchange which the company's shares are traded or any market upon which the share may be traded in the future, during the twenty trading days immediately preceding the closing date or 70% of the lowest trading price of the share as reported on the exchange which the company's shares are traded or any market upon which the common stock may be traded in the future, during the twenty 20 trading days immediately preceding the receipt of a notice of conversion. The company will raise funding in four tranches. The first tranche will be in the amount of $200,000, with each of the three successive tranches in the amount of $100,000.
Alkame Holdings, Inc. is a holding company, with an emphasis on health and wellness products. The Company, through its subsidiaries, develops, markets and distributes consumer-based products to maximize and capitalize on the development of various and multiple applications utilizing a proprietary water technology to create enhanced water with several properties. The intellectual property (IP) assets are utilized in several emerging business sectors, such as the hemp niche industry, the manufacture of specialty food and beverage products, the pet and aquaculture space, as well as many other business opportunities and various water treatment solutions to both new and existing business platforms. The Company utilizes its proprietary technology to produce specialty bottled water products for complete hydration, food and beverage related sauces, condiments, non-alcoholic mixes and fruits, hand sanitizer, and cannabidiol (CBD) water products. Its products are distributed nation-wide.