DENVER, April 11, 2017 (GLOBE NEWSWIRE) -- The Pulse Beverage Corporation ("Pulse") (OTCQB:PLSB) announced today that it has secured additional capital to meet increasing demand for its products including; Natural Cabana® Coconut Water in both Natural and Pineapple flavors, and Natural Cabana® Lemonades/Limeades in its newly introduced 16.9oz European designed bottles.
As part of the Company’s reorganization and streamlining plan, the Company was able to obtain addition capital to meet increasing product orders through June. These orders will allow the Company to produce self generating cash to continue fueling the Company’s resurgence. The capital was sourced through Old Main Capital who has agreed to provide the Company with net funds received of $250,000 during the month of April. These funds are part of a 9-month convertible note agreement that has a face value of $294,000 with a nominal interest rate of 10% per annum and if not paid in 9 months is convertible into the Company’s common stock, at Old Main’s option, at a 35% discount to market. (For more details see the 8-K filed as of April 6, 2017)
Robert Yates, CEO of Pulse, said, “We are very pleased with the funding we received from Old Main. We appreciate their confidence in us. This funding will allow us to concentrate on expanding our footprint to more stores that carry our brands which with the new 16.9 ounce European designed glass bottles have been exceptionally well received. As a result, I believe that we should be able to make some major customer announcements in the near future!”
The Company continues to retire expensive debt to TCA Global Master Credit Fund, LP and over the past few weeks has reduced the debt to TCA by over $163,000 and will continue to reduce that obligation as quickly as practical. The reductions so far may save the Company up to $30,000 per year in annual interest expenses to TCA.
About Pulse Beverage Corporation
Pulse Beverage Corporation ("Pulse") is an emerging beverage company that offers Natural Cabana® Lemonade/Limeade in 7 great tasting, low-calorie flavors and Natural Cabana® Coconut Water in pineapple and natural flavors. With Pulse's revamped business model, utilizing warehouse direct and key accounts, Pulse directly teams up with major retailers like Walmart, Albertsons/Safeway, Kroger, Stater Bros, Food Max, Houchens, Kmart, 7-Eleven, United C-stores, Weis Markets, King Kullen, Dierbergs Markets, Hy-Vee Supermarket, WinCo Foods, Price Less Markets, Gristede's Foods, Toot n Totem and Travel America. Consumers easily find Pulse's prominently displayed products thereby increasing revenue and earnings for shareholders of Pulse.
For more information, please visit: www.pulsebeverage.com or email info@pulsebeverage.com.
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Forward-Looking Statements
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