CAVE CREEK, AZ - (NewMediaWire) - October 09, 2015 - High Performance Beverage Co. (OTC PINK: TBEV) (the "Company") is pleased to announce that it has entered into a binding term sheet and definitive agreements to obtain up to $5 million dollars in additional financing in the form of an equity line that also includes $450,000 in immediate bridge capital in the form of a unsecured promissory note (the "Note") that is to be issued to GHS Capital LLC.
As currently anticipated, Private Equity Group, GHS Capital LLC ("GHS") based in California is to provide the $5 million in financing over a 24 month period. In addition to certain other obligations set forth in the definitive agreements between the Company and GHS, the Company is obligated to file a registration statement with the U.S. Securities & Exchange Commission ("SEC") registering the shares to be issued to GHS and the obligation of GHS to provide the financing is subject to the registration statement becoming effective. In the interim, the Company is to issue the Note to GHS for the $450,000 bridge loan.
The Company is also pleased to report that it has retired four convertible notes in the last 60 days and, if circumstances and market conditions allow, the Company seeks to consolidate certain other outstanding debt. If the Company is successful in consolidating some or all of its outstanding debt, the Company believes that it may allow the Company to better implement its financial and operating strategies.
Toby McBride, High Performance Beverage CEO, stated, "True to our word, we have not taken a penny in capital from convertible notes in 2015 and have now found what we consider to be a long term financial partner through private equity group, GHS Capital LLC, who have committed to a $5 million dollar equity line financing. We are confident that this equity line should allow us to create better investor sentiment as we seek better and stronger alternatives to raising capital. If circumstances and market conditions allow, the proposed financing that we receive from GHS may allow us to reduce our overall debt levels, allow us to introduce more flavors of our High Performance Sports Drink, build our beverage inventory levels and develop a nationwide distribution channel for retail sales, which we seek to implement at the beginning of 2016."
Michael Holley, High Performance Beverage President, stated, "We are ecstatic with the response we have received from our initial sales launch where we became Amazon.com's #1 Best Seller in the nutrition category within the first 48 hours of the introduction of our product. The success of our sales launch is a testament to the commitment we have in creating the best sports drink out in the market. We have taken steps to beef up our inventory levels at Amazon and now have a good grasp of their protocol procedures, which will enable us to keep our product in their inventory base."
MATTER OF FORWARD-LOOKING STATEMENTS
THE FOREGOING CONTAINS "FORWARD-LOOKING STATEMENTS" THAT CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING WORDS SUCH AS "BELIEVES," "EXPECTS," "MAY," "WILL," "SHOULD," OR "ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE WORDS OR COMPARABLE WORDS, OR BY DISCUSSIONS OF PLANS OR STRATEGY THAT INVOLVE RISKS AND UNCERTAINTIES. MANAGEMENT WISHES TO CAUTION THE READER THAT THESE FORWARD-LOOKING STATEMENTS, INCLUDING, BUT NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY'S FINANCING PLANS, GOALS, COMPETITIVE AND OTHER MATTERS THAT ARE NOT HISTORICAL FACTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT OR THAT THE ANTICIPATED FUTURE RESULTS WILL BE ACHIEVED. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS OR AS A RESULT OF OTHER RISKS FACING THE COMPANY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND IMPORTANT FACTORS DESCRIBED IN THE COMPANY'S FILINGS WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION. THE RISKS INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH AN EARLY-STAGE COMPANY THAT HAS ONLY A LIMITED HISTORY OF OPERATIONS, THE COMPARATIVELY LIMITED FINANCIAL RESOURCES OF THE COMPANY, THE INTENSE COMPETITION THE COMPANY FACES FROM OTHER ESTABLISHED COMPETITORS, TECHNOLOGICAL CHANGES THAT MAY LIMIT THE ABILITY OF THE COMPANY TO MARKET AND SELL ITS PRODUCTS OR ADVERSELY IMPACT THE PRICING OF THESE PRODUCTS. ANY ONE OR MORE OF THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED, EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THE FOREGOING OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.
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," "should," "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.