POSTED: 07:44 a.m. HST, Feb 06, 2014
LAST UPDATED: 12:56 p.m. HST, Feb 06, 2014
Coffee-fruit drink maker KonaRed Corp. will receive up to $12 million in equity capital investments from Chicago-based Lincoln Park Capital Fund LLC.
The 30-month purchase agreement will boost Kalaheo-based KonaRed's marketing abilities, retail distribution and production as well as formula creation, said Shaun Roberts, KonaRed president and CEO.
The terms of the purchase agreement enable KonaRed to sell to Lincoln Park Capital, up to $12 million of its common stock. KonaRed is traded over the counter as KRED.