Reed's, Inc. to Raise $750,000 in Private Placement Transaction
28 Gennaio 2011 - 3:22PM
Marketwired
Reed's, Inc. (NASDAQ: REED) (OTCBB: REEDP), maker of the
top-selling sodas in natural food stores nationwide, announced
today that it has entered into a securities purchase agreement with
institutional investors to purchase $750,000 of securities in a
private placement transaction. Under the terms of the transaction,
Reed's has agreed to sell an aggregate of 304,880 shares of its
common stock at $2.46 per share and warrants to purchase up to
121,952 additional shares of its common stock. The warrants to
purchase additional shares will be exercisable at an exercise price
of $2.77 per share and will expire five years from the closing
date.
The completion of the offering is subject to the satisfaction of
customary closing conditions and is expected to close on or before
February 7, 2011.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities. The securities offered
and sold in the private placement have not been registered under
the Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States absent
registration, or an applicable exemption from registration under
the Securities Act and applicable state securities laws.
Source Capital Group, Inc. acted as the exclusive placement
agent for the transaction.
About Reed's, Inc.
Reed's, Inc. makes the top selling natural sodas in the natural
foods industry, sold in over 10,500 natural food markets and
supermarkets nationwide. In 2009, Reed's started producing Private
Label natural beverages for select national chains. Its six
award-winning, non-alcoholic Ginger Brews are unique in the
beverage industry. Ginger Brews are made using fresh ginger, spices
and fruits with a brewing process that predates commercial soft
drinks. Reed's, Inc. owns Virgil's Root Beer, the top-selling cola
line in natural foods, as well as China Cola, the top-selling
natural foods cola. Recently, Reed's introduced its Reed's All
Natural Ginger Nausea Relief product for the drug store and grocery
retail channels. Reed's also acquired the Sonoma Sparkler brand at
the end of 2009, an all natural sparkling juice celebration drink
with an established customer base. Other product lines include
Reed's Ginger Candies and Reed's Ginger Ice Creams.
Reed's products are sold through specialty gourmet and natural
food stores, mainstream supermarket chains, and restaurants
nationwide. Reed's products are also sold in Canada and Mexico,
along with a small presence in Europe, the Middle East, South
Africa, Japan and Singapore. For more information about Reed's,
please visit the company's website at: http://www.reedsinc.com or
call 800-99-REEDS.
Follow Reed's on Twitter at
http://twitter.com/reedsgingerbrew
Reed's Facebook Fan Page at:
http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf
Subscribe to Reed's RSS feed at:
http://www.irthcommunications.com/REED_rss.xml
More information can be found at:
http://www.irthcommunications.com/clients_REED.php
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those
describing Reed's goals and strategies, contain "forward-looking
statements." These forward-looking statements can generally be
identified as such because the context of the statement will
include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements
that describe future plans, objectives or goals are also
forward-looking statements. While Reed's is working to achieve
those goals and strategies, actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. These risks and
uncertainties include difficulty in marketing its products and
services, maintaining and protecting brand recognition, the need
for significant capital, dependence on third party distributors,
dependence on third party brewers, increasing costs of fuel and
freight, protection of intellectual property, competition and other
factors, any of which could have an adverse effect on the business
plans of Reed's, its reputation in the industry or its expected
financial return from operations and results of operations. In
light of significant risks and uncertainties inherent in
forward-looking statements included herein, the inclusion of such
statements should not be regarded as a representation by Reed's
that they will achieve such forward-looking statements. For further
details and a discussion of these and other risks and
uncertainties, please see our most recent reports on Form 10-K and
Form 10-Q, as filed with the Securities and Exchange Commission, as
they may be amended from time to time. Reed's undertakes no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future events, or
otherwise.
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Investor Relations Contact: Mr. Andrew Haag Managing
Partner IRTH Communications, LLC Tel: +1-888-825-6456 E-mail: Email
Contact Website: www.irthcommunications.com
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