DC Brands International Inc., which is traded on the over-the-counter Bulletin Board, has closed on $10 million in equity financing from Centurion Private Equity. The company will use the money for production and for general corporate purposes. DC Brands manufactures health products including energy drinks and nutritional supplements.
DC Brands International, Inc. (OTCBB: DCBR) today announced the signing of a $10,000,000 Equity Funding Facility with Centurion Private Equity, LLC (“Centurion”), an institutional investor managed by Roswell Capital Partners, LLC. DC Brands intends to use the funding facility to fund production needs and capacity improvements to aid in its execution of its business model to nationally distribute its HARD Nutrition functional water systems. The funding facility will also be used to support general corporate purposes.
Centurion has committed to purchase for cash consideration, subject to certain conditions and limitations described in the agreement, up to an aggregate of $10,000,000 of DC Brand’s common stock. Under the Equity Funding Facility, DC Brands may, at its discretion, periodically sell to Centurion shares of DC Brand’s common stock not to exceed $500,000 per put at a price based upon the market price (as defined in the agreement) of DC Brand’s common stock.
Additional details on the transaction are available in the Company’s 8-K filing with the Securities and Exchange Commission.
DC Brands International CEO and President, Richard Pearce, stated: “We are excited and pleased to be working with such an experienced and professional team like Roswell. We believe that securing this flexible funding facility will allow us to focus all our efforts on the growth of our Company, and help us expand our distribution channels. We are pleased to have in place the necessary means to ensure that we can meet our anticipated operational and growth requirements going forward.”
Paul Gorski, Senior Investment Officer at Roswell, added: “We are very excited to be working with DC Brands and look forward to providing them with capital and support to help them achieve their potential in the coming years.”
Roswell Capital Partners, LLC is a fund management company focused on private equity investments in small-cap publicly traded securities. Since 1994, its members have served in the Private Equity Markets as the Principal or Investment Banker for over 125 public companies.
About DC Brands International:
DC Brands International, a publicly traded company under the ticker symbol (OTCBB: DCBR), presently specializes in the manufacturing of health products. Established in 1998, DC Brands began producing a number of lines of energy drinks in 2005. DC Brands then purchased the assets of H.A.R.D. Nutrition and began its quest to produce a new health line of products. DC Brands has recently announced the release of its new H.A.R.D. Nutrition Functional Water Systems, which it expects will revolutionize the functional beverage category.
For more information on DC Brands International, visit its website at www.HardNutrition.com.
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the intended use of proceeds from the equity line and our ability to meet our anticipated future operational and growth requirements.
The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements include, among others, the trading volume of our common stock and its impact of the equity line, unanticipated future costs and expenses and our ability to expand our distribution channels, Company’s ability to produce desired results and other factors described in our Registration Statement on Form S-1. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.