CSUH, Carl DeSantis Increases Investment to $15.3 Million in Celsius
DELRAY BEACH, FL -- (Marketwire) -- 08/24/09 -- Celsius Holdings, Inc. (OTCBB: CSUH stock news),
owner of the brand CelsiusŪ, the original calorie burning beverage,
announced that CDS Ventures of South Florida, LLC ("CDS") entered into a
commitment to extend a three-year $6.5 million loan facility to the
company, with interest of LIBOR plus 300 basis points. The facility can be
drawn in full over a three and a half month period. The loan amount is
convertible into Celsius Holdings, Inc. common stock at the lower of $0.40
or market price at the time of conversion. Pursuant to the term sheet, the
company will enter into a registration rights agreement under which the
company agreed to file a registration statement for the common stock
issuable upon conversion of loan amount. This brings the total investment
and commitments in the company by Carl DeSantis' affiliated companies to
$15.3 million, including equity investments, promissory note and loan
facilities.
DeSantis was formerly Chairman of the Board of Directors of Rexall Sundown,
Inc., a company he founded in 1976 and built into the world's leading
nutritional supplement supplier before he sold it for $1.8 billion in 2000.
Carl DeSantis said, "Celsius has entered into a new exciting phase and we
are seeing success stories everywhere." He continued, "A strong foundation
is in place, and with the launch of a major marketing plan the company will
increase its momentum."
According to Celsius CEO Steve Haley, "The company is blessed with having
such a great investor and partner. We have said it before, the advice and
guidance that Carl and his team provide us is as valuable as the growth
capital."
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (OTCBB: CSUH) markets CelsiusŪ, the original, great
tasting calorie burner that is backed by science, through its wholly-owned
operating subsidiary, Celsius, Inc. Celsius, Inc. is dedicated to providing
healthier, everyday refreshment through science and innovation.
Information about Celsius
Holdings, Inc. is available at our
website. More information about Celsius, the original, great tasting
calorie burner, is available at http://www.celsius.com.
Forward-Looking Statements
This press release may contain statements that are not historical facts and
are considered forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements contain
projections of Celsius Holdings' future results of operations and/or
financial position, or state other forward-looking information. In some
cases you can identify these statements by forward-looking words such as
"anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"should," "will," "would," or similar words. You should not rely on
forward-looking statements since Celsius Holdings' actual results may
differ materially from those indicated by forward-looking statements as a
result of a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business strategy
for expanding our presence in our industry; anticipated trends in our
financial condition and results of operation; the impact of competition and
technology change; existing and future regulations affecting our business;
and other risks and uncertainties discussed in the reports Celsius Holdings
files from time to time with the Securities and Exchange Commission.
Celsius Holdings does not intend to and undertakes no duty to update the
information contained in this press release.
