CAVE CREEK, AZ - (NewMediaWire) - December 21, 2015 - High Performance Beverage Co. (OTC PINK: TBEV) (the "Company") is pleased to announce they have met all necessary provisions for its $5 million dollar funding commitment.
As previously announced, the $5 million dollar funding commitment is being made available through an equity line provided by California based, Private Equity Group, GHS Investments LLC. The Company is now in the process of filing a registration statement with the U.S. Securities & Exchange Commission ("SEC") in order to register shares for the aforementioned investment.
Additionally, in an 8K filed on September 23, 2015, the Company entered into a Settlement Agreement with a Hedge Fund on September 17, 2015. The Settlement Agreement allowed for three separate convertible notes to be consolidated into one $240,500 convertible note. The Company has paid this note in full and it is now retired.
High Performance Beverage will be working on completing its consolidation phase of their remaining debt. The Company expects the consolidation of debt to help create a better market environment as they begin to implement a strategic marketing campaign for their High Performance Sports Drink going into 2016.
Michael Holley, High Performance Beverage President, stated, "We are very pleased to announce that we have met all the provisions necessary for us to move forward with our $5 million funding commitment. This equity line will now afford us the ability to control our destiny by raising capital at our discretion without taking on additional debt once our registration statement goes effective. Additionally, the way this credit line is structured, the Funder will receive shares after our request for funds, giving them a fixed cost basis. This fixed cost basis essentially acts as a floor since the Funder can only make a profit by selling above his cost basis. This is a stark contrast to taking on debt with convertible note holders who make money by beating down the price of a stock in order to get more shares on conversions they control. We plan on using a portion of this equity line to eventually eliminate all of our convertible debt in order to create greater shareholder value." He also stated, "We are equally pleased to announce the retirement of a $240,500 convertible note which would have been highly toxic to the Company. We will now be focusing our efforts with strategic marketing in order to build brand awareness of our sports drink in order to initiate the expansion of our product on to retail shelves in 2016."
For more information go to:
High Performance Beverage's corporate website
About High Performance Beverage Company
High Performance Beverage Company has created a new beverage segment under the trade name High Performance Beverages which manufactures and distributes a line of sport performance drinks. High Performance Beverage Company's sport performance drinks are carefully formulated to support mental focus and help increase blood flow, thereby giving the body the necessary fuel to power through a specific event or throughout the day. Our unique blends are designed to bridge the gap between supplements, energy and hydration drinks, ultimately broadening our appeal and providing access to an expanding target market. High Performance beverages are sugar free and extremely low in calories and caffeine. This positioning makes High Performance Beverage Co. sport drinks first to market with a sustainable competitive advantage.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of High Performance Beverage Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond High Performance Beverage Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in High Performance Beverage Company's filings with the Securities and Exchange Commission.