LAS VEGAS, NV--(Marketwired - Jan 8, 2014) - Pinacle Enterprise, Inc. (OTCBB: PINS) (OTCQB: PINS) (OTCBB: PINSD) (OTCQB: PINSD), a health and technology holding company with a focus on patentable, innovative, and eco-friendly consumer products, announced today that the board of directors and shareholders of the Company have approved a 3-to-1 reverse split of its Common Stock, as well as a name change to Alkame Holdings, Inc.
The name change to Alkame Holdings, Inc. and 3-to-1 reverse stock split will be effective immediately at the start of trading on January 8, 2014 when the Company's Common Stock will being trading under the temporary symbol "PINSD" for a period of twenty (20) trading days. The Company expects that following the twenty (20) trading days, estimated to be February 4, 2014, our Common Stock will begin trading under the new permanent symbol "ALKM". In connection with the name change and reverse split, the Company has been assigned a new CUSIP number, 01643J 109.
"Completing this name change to Alkame Holdings Inc. is a significant step towards achieving the goal of expanding and leveraging our brand name with shareholders, investors, and the media," stated Robert Eakle, CEO of Alkame Holdings, Inc. "We also strongly believe that reducing the total number of Common shares outstanding will broaden our appeal to potential new investors and the investment community as a whole."
The Company anticipates that shareholders holding Common shares in book form with registered brokerage firms and investment advisors will have the name change and reverse split processed automatically to their accounts without further action required on their part. Physical certificate holders may contact the Company's transfer agent, Island Stock Transfer Inc., at (727) 289-0010 or firstname.lastname@example.org to facilitate the exchange of their old certificates should they wish to. No fractional shares shall be issued in conjunction with the reverse split.
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded health and technology holding company with a focus on patentable, innovative, and eco-friendly consumer products. The Company's wholly-owned subsidiary, Alkame Water, Inc., markets and distributes micro-clustered, alkaline, antioxidant and oxygenated bottled water utilizing an exclusive patented formula and technology. Alkame's patented technology creates water with several unique properties which allow the body to absorb and utilize it more efficiently and help to achieve an optimal pH balance. The patented Alkame technology also increases the available oxygen content and absorbability, which equates to more fuel for improved metabolic efficiency, boosted immune system, and improved cardio respiratory function. Not all waters are created equal™. For more information, visit www.alkamewater.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 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.