KOLOA, Hawaii – KonaRed Corporation, manufacturers of Antioxidant Juices from the exclusive Hawaiian CoffeeBerry, coffee fruit from Kona, Hawaii, has completed a drawdown of $500,000 of the $12 million Equity Line in place with Lincoln Park Capital Fund LLC.
“Our Form S-1 was declared “Effective” by the U.S. Securities & Exchange Commission, which therefore allows us to utilize the Equity Line. We’ve attempted to choose wisely on our sale of stock.
With Lincoln Park, we are dealing with a firm with an excellent reputation and our Equity Line allows us to launch our strategic plans in a very orderly trajectory,” said CEO and Founder Shaun Roberts.
“It is important for our investors to realize that this money will be used to manufacture product to supply expected increased demand and other capital needs. The Equity Line provides a low cost of capital and is an efficient method of managing growth,” Mr. Roberts said.
Mr. Roberts continued, giving investors a snapshot of KonaRed today:
- We have an exciting, healthy line of unique products which are fully tested and currently in production using proven manufacturing methods.
- Our partnership with VDF FutureCeuticals, Inc. provides us access to high quality scientific research to ensure the quality of our wellness products.
- We’ve expanded our senior management and Board with talented, experienced and successful individuals.
- Our customer base continues to grow as evidenced by our products being sold on the Mainland by major customers such as Walmart and Vitamin Shoppe.
- Splash Beverages Group, with an historical track record of success, is now aggressively developing new distribution channels to increase our sales.
- We became publicly traded to provide methods to raise capital and the Equity Line now provides us rapid access to investment capital from a reliable source
“I’m pleased with our progress over the last eight months and our team continues to be dedicated to making KonaRed a major success; a revolution in the wellness beverage sector. We’ve only just begun and are pushing hard to fulfill our plans going forward,” Mr. Roberts concluded.
Source: press release
