Great Neck, NY (PRWEB) May 02, 2013
Be Active Holdings, Inc. (OTCBB: JALA) (OTCQB: JALA) (the "Company" or "Be Active") (http://www.beactivebrands.com) a manufacturer and distributor of frozen desserts under the trade name “Jala,” announced that on April 25, 2013, the Company entered into a securities purchase agreements (the "Purchase Agreements") with certain accredited investors, pursuant to which it sold an aggregate of 28,333,334 Units, with each Unit consisting of one share of the Company's common stock, par value, $0.0001 per share ("Common Stock") and a warrant to purchase an additional share of Common Stock at an exercise price of $0.05 per share, at a per Unit purchase price of $0.03, for aggregate proceeds of $850,000 (the "Offering"). Be Active intends to use the net proceeds of the Offering for working capital and general corporate purposes, including without limitation, debt reduction purposes.
Saverio Pugliese, President of Be Active, said, "The proceeds from this Offering will, among other uses, provide us capital to expand our position in the healthy segment of the frozen yogurt desserts market. We welcome our new shareholders and appreciate their support."
The securities sold by Be Active in the Offering were not registered under the Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state and were sold in reliance upon exemptions from the registration requirements of the Securities Act and applicable state securities laws. Therefore, such securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. This press release does not constitute an offer to sell any securities or a solicitation of an offer to purchase any securities.
Palladium Capital Advisors LLC served as the Company's placement agent (the "Placement Agent") for the transaction. For more details, please see the current report on Form 8-K filed by Be Active on May 1, 2013.
About Be Active Holdings, Inc.
The Company manufactures and sells low fat, low calorie, all natural probiotic enriched frozen yogurt and ice cream under the trade name "Jala". Its frozen yogurt is packaged as low fat sandwiches, bars and pints, which are designed to appeal to the health conscious or weight conscious consumer.
For additional information, please visit the Company's corporate website: http://www.beactivebrands.com.
Forward Looking Statements:
Under The Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties are described in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the results of any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectation.