Alkame Holdings, Inc. (OTCBB:PINS) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On May 1, 2017, Alkame Holdings, Inc. (the “Company”) entered a series of agreements under which we have acquired through an operating lease, the operating assets of Bell Foods International, Inc. (“Bell”) and simultaneously entered a property lease for the manufacturing facilities of Bell.
Bell Foods International, Inc., based in Oregon, is a marketer, importer, manufacturer and customized co-packer of all natural, organic and gourmet specialty food products. Known for high quality and both large and small production capacities, Bell is a recognized and respected member of the food and beverage manufacturing community.
The deal is structured as an assumption of the operations of Bell via an initial 5-year lease of the manufacturing facility at market rates, and a 5-year lease of the manufacturing equipment for $1.00 per year with an option to purchase at the end of the lease. In addition, Alkame will simultaneously acquire certain trademarks and brands from Bell, the customer list, accounts receivable, supplier list, production methods, and inventory of Bell.
This assumption of operations will add approximately $1.5 million in annual revenue to Alkame. In addition to the added revenue, all customers’ accounts, accounts payable and receivables, inventory, internet properties, and an extensive library of product formulations, along with the continuation to offer private label programs and customized co-packing solutions for a selected variety of specialty gourmet items. Along with the acquisition brings the ownership and title to the product expansion product offerings of the brands: Everyday Gourmet Fine Foods, Everyday Organic Fine Foods, Mr. Jalapeno, and NutraBell Gourmet Fine Foods
The “Everyday Gourmet” brand is Bell Foods product line since 2003. Under “Everyday Gourmet”, Bell Foods sells various products ranging from drink mixes, to all types of sauces and condiments, as well as jams, jellies and even pickled Green Beans, among many others.
Everyday Organic is Bell Foods organic certified label used for their certified organic products. Currently Bell Foods organic products include a drink mix called Agave Nectar.
Mr. Jalapeno – Bell Foods hot sauce brand and Jalapenos peppers. Current products include a green mild sauce called “Salsa Verde” which is an award-winning product.
Section 2 – Financial Information
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Reference is made to the disclosures set forth under Item 1.01 of this Current Report, with disclosures incorporated herein by reference.
Section 8 – Other Events
Item 8.01 Other Events.
(a) Financial statements of businesses acquired.
Financial statements required by this item are not included in this report and will be filed by amendment not later than 71 calendar days after the date of this report on Form 8-K.
About Alkame Holdings, Inc. (OTCBB:PINS)
Alkame Holdings, Inc. is a health and wellness technology holding company. The Company is in the business of distributing bottled/canned alkaline, antioxidant and oxygenated water. The Company is acquiring and seeking to acquire companies, rights and technologies. It is also pursuing in the aquaculture sector. It is focused on introducing, promoting, marketing and establishing channels of distribution to sell its product to a range of consumers in the United States, Canada and Mexico, and globally. The Company is re-exploring other uses of its water to diversify its portfolio of products to include other specialty uses outside of the bottled water and health water markets. Its subsidiaries, Alkame Water, Inc. and Xtreme Technologies Inc. market and distribute enhanced waters utilizing a formula and technology to create water with various properties. Alkame Water, Inc. is pursuing the human consumable industries. Xtreme Technologies Inc. is pursuing the household pet industries. Alkame Holdings, Inc. (OTCBB:PINS) Recent Trading Information
Alkame Holdings, Inc. (OTCBB:PINS) closed its last trading session at 0.480 with shares trading hands.