|By Marketwired .||
|June 17, 2014 05:08 PM EDT||
IRVINE, CA -- (Marketwired) -- 06/17/14 -- Sport Stix Inc., (the "Company") has entered into a USD $5 million subscription agreement with an option up to USD $10 million, with a leading private equity investment firm, Lambert Private Equity LLC (the "Investor"). The company plans to list initially on the OTCBB or equivalent exchange.
Sport Stix Inc. is a manufacturer and distributor of Sport Stix Electrolyte Drink Mix; a concentrated powder containing four essential electrolytes with a custom blend of a variety of fruit based flavors. Sport Stix is mixed into water which translates as a light and refreshing drink mix designed to taste incredibly delicious that most importantly has no sugar, carbohydrates or calories. Sport Stix is specially packaged as individual stix that come in a 7 or 20 stix zip lock travel pouch.
Sport Stix has been developed by the Company's founder, President and Director, Charles Todd, who over the last 10 years specially formulated the drink mix for his daughter training to be professional athlete, who couldn't drink the leading sports drinks on the market, to maximize her training and to also maintain proper amounts of fluids to avoid dehydration. Mr. Todd brings over 25 years of success in business, R&D in product formulation, and start up support strategy and philanthropy for leaders of non-profit organizations.
Mr. Todd, states, "Lambert Private Equity's partnership will aid in developing our company's extensive business plan to develop and distribute Sport Stix which is greatly needed in the sports, medical and beverage industries to help athletes at all sports levels, people with medical conditions and those who have a need for a superior electrolyte drink product that has no sugar, carbs or calories to stay hydrated."
The company may draw on the Facility from time to time, as and when it determines appropriate in accordance with the terms and conditions of the Investment Agreement. The maximum amount that the company is entitled to put to the investors is no more than $1,000,000 per draw down notice. In addition as per the agreement, the company agreed to issue 200,000 shares of common stock to the investor.
Bob Cashman, Secretary and Director of Sport Stix Inc. added, "This funding agreement with Lambert Private Equity LLC has put us on the playing field giving us additional growth opportunities as well as positioning us for acquisitions."
Sport Stix, Inc. is now aggressively pursuing additional strategic acquisitions to enhance shareholder value and seeking companies in the Beverage, Sports, Nutrition and Medical sectors with the following criteria:
- Minimum EBITDA of USD $1 Million
- Fully audited financials or able to be audited quickly
About Joseph Lambert: Lambert Private Equity LLC: http://www.lambertfunds.com
Lambert Private Equity LLC invests, through its unique equity and equity-linked structures, in publicly traded companies around the globe.
Lambert Private Equity LLC generally looks to invest amounts from $10 million up to $500 million directly into listed companies for a variety of activities including working capital, accretive EBITDA acquisitions and other growth opportunities.
Lambert focuses on equity investments in public companies as well as private companies that will be listed on a securities exchange within six months of a funding commitment.
Lambert Private Equity LLC has no outside investors and is considered a private group run by its principals, similar to a merchant bank that invests its own capital and as such is seeking capital appreciation through the identification and funding of growth companies.
Lambert Private Equity LLC is not an underwriter and the funding it provides is based on specific terms and conditions, including the price and volume of the company's shares once the company is publicly listed. Lambert Private Equity LLC does not provide volume, liquidity, investor relations or public relations services.
Forward Looking Statements: The information in this press release contains "forward-looking statements" and are inherently susceptible to uncertainty and changes in circumstances. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "intends," "objective," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance. The Company's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company's actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and other associated factors.
For further information please visit www.SportStixUSA.com or contact:
Sport Stix, Inc.
18101 Von Karman Ave. ste 140-121
Irvine, CA 92618