KALAHEO, HI, US – KonaRed Corporation (formerly TeamUpsport Inc.) (“KonaRed” or the “Company”), the developers of KonaRed nutritional products made from Hawaiian sourced Kona Coffee Fruit, is pleased to announce the completion of a going public transaction on October 4, 2013.
Pursuant to this transaction TeamUpsport acquired all of the assets and liabilities of Sandwich Isles Trading Co. Inc. dba KonaRed. The acquisition was effected pursuant to the terms and conditions of an asset purchase agreement dated October 4, 2013.
In connection with the acquisition, KonaRed’s stock commenced trading on the OTC Bulletin Board under the symbol “KRED.”
As a result of the acquisition, we have commenced operations pursuing the business plan of our new business, the KonaRed Corporation. We manufacture, develop, market and distribute KonaRed Hawaiian wellness beverages and nutritional supplements for wholesale and retail sale. The products are made exclusively from sustainably harvested coffee fruit from the world famous Kona coffee region on the Big Island of Hawaii.
In connection with the acquisition, the Company appointed Shaun Roberts, Steven M. Schorr, Dana Roberts and Gonzalo Camet as members of the Company’s Board of Directors.
In addition, Mr. Roberts was appointed as President and CEO of the Company, Mr. Schorr as CSO and Mrs. Roberts as CFO. Mr. Ian Lev, who had served as director and officer until the closing, has resigned from his positions and the Company thanks him for his service in bringing the KonaRed business to our Company.
Company President and industry pioneer, Shaun Roberts commented, “We are witnessing a dramatic surge of growth in the health and wellness segment of consumer products. Consumer awareness of the healthful benefits of KonaRed’s exclusive Hawaiian Coffee Fruit has increased tenfold over the past few years.
I’m pleased to help bring forth a new Hawaiian wellness product that is both of the highest quality and the most cost effective. We feel certain this endeavor will be beneficial to consumers and shareholders alike.”
The Company filed a Current Report on Form 8-K with the SEC on October 10, 2013 providing information about the Company’s post-acquisition business, plan of operations, financial condition and management team.
That Current Report on Form 8-K and the other reports we file with the SEC are available at the SEC’s website at www.sec.gov.
