KonaRed Corporation has entered into a purchase agreement with Lincoln Park Capital Fund LLC.
February 4/Kalaheo, Hawaii/Marketwired -- KonaRed Corporation has entered into a purchase agreement with Lincoln Park Capital Fund LLC (LPC), a Chicago-based institutional investor, whereby LPC committed to invest, at the company’s sole option, up to $12 million of equity capital over the term of the purchase agreement.
“This access to capital from LPC increases our flexibility to increase product awareness with consumers via marketing and retail expansion, build inventory, pursue additional product development and formula creation, and continue to build the KonaRed brand,” stated Shaun Roberts, President and CEO of KonaRed.