Thursday, 18 February 2016 08:00 AM
Company Update
Recent Financing and Share Split Positions Company for Value Creation; Jala Greek Yogurt Products Gain Traction with Safeway Supermarkets and C&S Wholesale Grocers
NEW YORK, NY / ACCESSWIRE / February 18, 2016 / Be Active Holdings, Inc. (OTC: JALA), a manufacturer and marketer of Greek frozen yogurt under the Jala brand, today announced several key business updates that highlight the Company's continued financial and operational repositioning towards success.
On December 28, 2015, The Company completed its 1 for 1,000 reverse stock split, reducing the number of shares of common stock issued and outstanding from 486,256,112 to 486,257 shares. In addition, on December 31, 2015, the Company closed on a $500,000 financing of secured convertible promissory notes with a maturity date of December 30, 2016. The holders have the right to convert the outstanding principal and accrued annual interest of 10% at $0.30 per share. These two transactions served to enhance Be Active's liquidity and simplify its capital structure.
On the operations front, the Company received distribution approval for five of its SKUs from Safeway, the second largest supermarket chain in North America. Be Active intends on working with Safeway to increase product distribution in the Northeast, through Safeway's 135 stores in Virginia and Maryland. Furthermore, Be Active expanded its distribution agreement with C&S Wholesale Grocers, the largest US wholesale grocery distributor by revenue. C&S Customers include Stop & Shop, Winn Dixie, Key Food, Foodtown, Piggly Wiggly and Giant stores. Be Active was able to achieve "crossroads" vendor status with C&S, which allows for unlimited access into C&S warehouses with no slotting fees.
Joseph Rienzi, President of Be Active Holdings, stated, "The last few months have been a busy time for the Company. Our entire team has worked hard to deliver the appropriate financing and capital structure needed to set the stage for growing shareholder value. In addition, our recent progress with Safeway and enhanced partnership with C&S Wholesale Grocers mark an important milestone for our Company. Jala products will now have the potential to reach a strong and growing number of customers through the large footprint of these strong national retail and distribution partners."
The Jala brand is a low fat, low calorie, all natural probiotic enriched Greek frozen yogurt designed to appeal to both the health conscious and weight conscious consumers.
For more information, please check out http://jalabars.com and follow Jala on Twitter and Instagram @jalabars.
About Be Active Holdings, Inc.
Be Active Holdings, Inc. is a manufacturer and marketer of Greek frozen yogurt under the Jala brand. The Company manufactures and sells low fat, low calorie, all natural probiotic enriched Greek frozen yogurt under the trade name Jala. Its Greek frozen yogurt is packaged as low fat bars and pints, which are designed to appeal both the health conscious and weight conscious consumer. The Company produces high quality, low fat, low calorie, all natural novelty frozen yogurt and ice cream products. Its proprietary Greek frozen yogurt is all fat-free and is a result of its proprietary recipe and the quality of the ingredients in the mix. For more information, check out: http://jalabars.com.
Forward-Looking Statements
Forward-Looking Statements. This press release contains "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 (the "Exchange Act") (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Statements preceded by, followed by or that otherwise include the words "believe," "anticipate," "estimate," "expect," "intend," "plan," "project," "prospects," "outlook," and similar words or expressions, or future or conditional verbs such as "will," "should," "would," "may," and "could" are generally forward-looking in nature and not historical facts. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any anticipated results, performance or achievements. The Company disclaims any intention to, and undertakes no obligation to, revise any forward-looking statements, whether as a result of new information, a future event, or otherwise. For additional risks and uncertainties that could impact the Company's forward-looking statements, please see the Company's Annual Report on Form 10-K for the year ended December 31, 2014, including but not limited to the discussion under "Risk Factors" therein, which the Company has filed with the SEC and which may be viewed at http://www.sec.gov.
Contact Information
Hayden IR
[email protected]
917-658-7878
SOURCE: Be Active Holdings, Inc.