Calorie Burning Celsius Announces Strategic Partnership with Former Rexall Sundown Chairman Carl DeSantis | Celsius issue of $2 million in preferred shares brings DeSantis back to consumer market where he excels
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Calorie Burning Celsius Announces Strategic Partnership with Former Rexall Sundown Chairman Carl DeSantis
Celsius issue of $2 million in preferred shares brings DeSantis back to consumer market where he
Celsius Holdings, Inc. (OTC Bulletin Board: CSUH.OB) announced it has achieved a strategic partnership agreement with company builder Carl DeSantis, majority owner of CDS Ventures of South Florida, LLC ("CDS"), for CDS to invest into Celsius Holdings, Inc.
DeSantis, formerly Chairman of the Board of Directors of Rexall Sundown, Inc., a company he founded and built into the world's leading nutritional supplement supplier before he sold it for $1.8 billion, called Celsius "a very exciting investment for me personally.
"It will give me the opportunity to get back into the consumer market again and assist a great company get to the next level.
Founded in 1976 by DeSantis, the Boca Raton, Florida-based Rexall Sundown was sold to Royal Numico in 2000.
In June 2008, CD Financial, LLC
, an affiliate of CDS, converted notes for $750,000 and received 11.1 million shares of common stock.
On August 8, 2008 Celsius Holdings, Inc.
entered into a securities purchase agreement ("SPA") with CDS
Pursuant to the SPA, the Company issued 2,000 Series A preferred shares ("Preferred Shares"), as well as a warrant to purchase an additional 1,000 Preferred Shares, for a cash payment of $1.5 million and the cancellation of two notes in aggregate amount of $500,000 issued to CD Financial, LLC.
This brings the total investment in Celsius by Carl DeSantis affiliated companies to $2.75 million.
During the due diligence period, Carl
and the whole CDS team have been very helpful.
Because of their strong experience and background in the consumer packaged goods arena, their guidance is helping us with everything from enhanced shelf presence to introduction to significant retailers."
The strategic partnership has already given us clear benefits for the introduction of our new Green Teas beverage that will be launched in September," he