LAS VEGAS, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Alkame Holdings, Inc. (OTC PINK: ALKM), a publicly traded health and wellness holding company, today reported that the Company has received notice from the Small Business Administration ("SBA") that a loan it received through its subsidiary Bell Food and Beverage, Inc. from a lending institute in April 2020 under the Paycheck Protection Program ("PPP") of the CARES Act, approximately $101,440.00 together with all accrued interest, has been 100% forgiven in full.
Robert Eakle, CEO of Alkame Holdings, Inc. commented, “The pandemic negatively impacted our business and revenues, and the PPP Loan enabled us to preserve our workforce and ride out the adverse financial impact created by the pandemic. These funds were crucial in the retention of a major portion of our workforce. The Company will account for this forgiveness of loan principal and interest as it continues to gain momentum on debt extinguishment.”
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded diversified holding company. The Company's wholly owned subsidiaries include proprietary water technology with several unique properties, food and beverage manufacturing and co-packing, CBD /Hemp food and beverage manufacturing, and utilizes their enhanced water technology whenever applicable, along with several company owned developed and acquired consumer brands. 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, and many other various water-based treatment solutions to both new and existing business platforms.
For more information, visit www.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.