USA: Aqua Vie Receives Commitment For Up To $6 Million
Thomas Gillespie, president and chief executive officer of Aqua Vie Beverage Corporation (OTC Bulletin Board: AVBC), announced today that the company has received a commitment for up to $6 million in funding to be used in bottling production and as working capital. Proceeds, which will be made available to the company in two payments over the next 90 days from two institutional investment groups, will be used in conjunction with Aqua Vie's North American and international marketing and distribution.According to the terms of the agreement, $3 million in funding is to be issued in favor of the company on or before June 10, 2000, with an additional $3 million to be made available on or before September 10, 2000, based upon fulfillment of certain performance goals. Additional details were not disclosed."This funding will help us optimize this summer's marketing and distribution expansion, both domestically and abroad," said Gillespie.Aqua Vie Beverage Corporation develops and markets all-natural, lightly flavored, still (non-carbonated) bottled spring water. The company's low-calorie alternative beverages are bacteria-free and contain no preservatives. Aqua Vie produces and markets the Hydrator(TM) line of beverages in the United States and Europe. This beverage line, comprised of seven low-calorie, all-natural beverages that are lightly flavored and packaged in half-liter bottles, is designed to increase one's personal consumption of water, naturally. The underlying technology also serves as the new delivery system for Aqua Vie's nutritionally fortified E Line(TM) -- Elixir(TM), Empower(TM), and Ecstasy(TM); its nutritionally specific line of Aquaceuticals(TM); and Aqua Vie's nonalcoholic wine and champagne beverages made from spring water. For further information about Aqua Vie Beverage Corporation, visit the company's web site at
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