New York City, April 05, 2017 (GLOBE NEWSWIRE) --
Hispanica International Delights of America, Inc. Announces Registration Statement on Form S-1 has been Declared Effective
Financing Enables Company to Execute on its Expansion and Growth Plans
New York, New York April 5, 2017-- Hispanica International Delights of America, Inc. (OTCQB: HISP "Hispanica" or the "Company"), a diversified food and beverage company in the Hispanic and ethnic food industry, has today announced that the Securities and Exchange Commission ("SEC") has declared effective the Company's registration statement on Form S-1 on March 30, 2017. The Form S-1 relates to the resale of up to 6,033,131 shares of the Company's common stock (the "Common Shares") in an Offering that is officially closed, held by, or that may be acquired through the conversion of Convertible Notes with a fixed price and exercise of Warrants, by certain security holders of the Company named in the registration statement.
The Common Shares were sold by Hispanica in October 2016, through a private placement resulting in gross proceeds of approximately $750,000 to the Company. The registration statement, while effective, allows the selling security holders named in the registration statement to publicly resell the Common Shares.
Commenting on the announcement, the Company’s Chief Executive Officer Fernando Oswaldo Leonzo stated, "We are delighted to announce the closing of this offering and the support we received from the investment community.”
“With this Company financing, we can now focus on reinvigorating our brands with tremendous margin expansion potential and strong cash flow. We plan to use the proceeds from this offering to expand our proprietary line of beverages and snacks, increase production rates, reduce debt and continue to seek out potential acquisition candidates. We find the dynamics of growth through acquisition in our industry very compelling, and believe we are well positioned to create long-term value for our shareholders.”
Mr. Oswaldo Leonzo concluded: “We plan to issue a more detailed investor update outlining our progress to date, and plans for the remainder of 2017 with our next quarterly earnings announcement scheduled for mid-April 2017.”
A registration statement relating to these securities has been filed with, and declared effective on March 30, 2017, by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (HISP) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third party Hispanic and Ethnic food and beverages throughout the United States. HISP has already begun to distribute fruit juices, nectars, and milk based products and will begin to distribute teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are done so on a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions, which have been known for generations among the Hispanic and other ethnic groups, and are now becoming part of the American mainstream diet. HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices.
HISP is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Northern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: 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 Hispanica International Delights of America, Inc. 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,” “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 including those relating to the Company’s financing being adequate for the Company to launch its growth and expansion plans among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.’s ability to control, and 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 Hispanica International Delights of America, Inc.’s filings with the Securities and Exchange Commission.
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