Pinacle Enterprise, a publicly traded health and technology holding company, has completed the due diligence associated with the previously announced agreement to acquire Xtreme Technologies, a developer and holder of worldwide rights and patents of Alkame Water Technologies.
Following the positive pre-transaction due diligence outcome, both the companies are willing to move forward with completion of Definitive Documents and completion of the proposed transaction.
Alkame CEO Robert Eakle said that the company has conducted the final stages of the due diligence process for the acquisition of Xtreme Technologies and the worldwide Alkame water rights and intellectual property, including the company's expansion strategy going forward.
"After working so closely with each other for an entire week at the Xtreme Technologies facility, we are even more confident and committed to combining our forces to build the Alkame brand on a global scale," added Eakle.
"We look forward to ramping up our new Alkame distribution and marketing initiatives over the next several weeks."
Under the previously proposed deal, Pinacle will own the complete assets and business of Xtreme Technologies including, patents, trademarks, trade names, all bottling equipment and other machinery, equipment and supplies, accounts receivable from clients like Wal-Mart and Petco, contracts, and other assets, subject to Xtreme Technologies' debts, obligations and liabilities, except for those debts to be retired at closing.
