FOR
IMMEDIATE RELEASE
| CONTACT: |
Christopher
Reed, Founder and CEO
|
310.217.9400
ext. 10
John
Mills, Integrated Corporate Relations
310.954.1105,
jmills@icrinc.com
Neil
B.
Michaelsen, Managing Director
512.314.4549,
nmichaelsen@aps-financial.com
REED’S,
INC. ANNOUNCES COMPLETION OF $9.0 MILLION CAPITAL
RAISE
—RECENTLY
COMPLETED FOLLOW-ON CAPITAL RAISE OF $4.7 MILLION BRINGS TOTAL AMOUNT RAISED
TO
$9.0 MILLION IN JUNE OF 2007—
Los
Angeles, CA ―June 19,
2007 ― Reed’s,
Inc. (OTC BB: REED) today
announced that it has closed on approximately $4.3 million of additional
subscriptions from accredited investors in connection with the completion
of a $9.0 million private placement of its restricted securities. The
Company closed on subscriptions for approximately $4.7 million of its
restricted securities in June 2007, bringing the total amount raised to $9.0
million in the private placement. Proceeds from the private placement will
be
used to fund growth initiatives, as well as for general corporate and working
capital purposes. APS Financial Corporation, an Austin, Texas based securities
and investment banking firm, served as the lead placement agent in connection
with the financing.
Christopher
Reed, Founder and CEO of Reed's, Inc., stated, "We are thrilled by the level
of
interest the capital markets have demonstrated in Reed’s. We believe the
interest is indicative of the strong growth prospects for the Reed’s brand as we
continue to generate increased brand awareness through marketing programs and
additional points of distribution. The additional financing will allow us to
further accelerate our future growth plans which include expanding and enhancing
our product portfolio, launching additional product categories and expanding
points of distribution beyond natural food accounts to the mainstream
marketplace.”
About
Reed’s, Inc.
Reed's,
Inc. develops, manufactures, markets and sells innovative, all natural,
non-alcoholic beverages, candies and ice creams. Its non-alcoholic Ginger Brews
are unique in the beverage industry being brewed from fresh ginger, spices
and
fruits. Award-winning gourmet product lines include: Reed's Ginger Brews, Reed's
Ginger Juice Brews, Reed's Ginger Candies and Reed's Ginger Ice Creams.
Additionally, the Company has acquired Virgil's Root Beer and China Cola product
lines. Reed’s products are sold through specialty gourmet and natural food
stores, supermarket chains, retail stores and restaurants nationwide and in
Canada. For more information about Reed’s, please visit the company’s website
at: www.reedsgingerbrew.com
or call
(800) 99-REEDS.
SAFE
HARBOR STATEMENT
Some
portions of this press release, particularly those describing Reed's goals
and
strategies, contain 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. 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, including difficulties in marketing its products and services,
need for capital, competition from other companies 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-KSB
and Form 10-QSB, 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.