Boca Raton, FL May 23, 2014 – Celsius Holdings, Inc., (OTC Pink: CELH) the creator and marketer of Celsius®, the world’s first and only negative calorie drink backed by clinical science, today reported the sixth amendment to the restated promissory note, third amendment to the restated convertible note, and third amendment to the amended 2006 incentive stock plan.
On May 23, Celsius Holdings, Inc. announced that the maturity date and principle amount of the senior promissory note under the Company’s Senior Credit Facility with CD Financial, LLC has been extended from July 12, 2015 to December 31, 2016 and the principle has been increased from $7.45 million to $9.0 million. In addition, the maturity date of the convertible note with CDS Ventures of South Florida, LLC for $1.5 million has been extended from September 8, 2015 to December 31, 2016; all other terms remain the same.
Celsius Holdings, Inc. also announced the third amendment to the amended 2006 incentive stock plan increasing the authorized shares of the Plan from an aggregate of 3,500,000 to 4,250,000 Common Shares. The amendment was undersigned by Carl DeSantis the majority shareholder of Celsius Holdings, Inc. and its subsidiaries and the unanimous consent from the board of directors, individually and collectively, in writing in lieu of a shareholder vote to adopt the amendment.
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (Other OTC: CELH.PK) markets Celsius®, which is backed by science. Celsius is dedicated to providing healthier, everyday refreshment through science and innovation. For more information, please visit www.celsius.com.
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings' future results of operations and/or financial position, or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would,” or similar words. You should not rely on forward-looking statements since Celsius Holdings' actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; and other risks and uncertainties discussed in the reports Celsius Holdings has filed previously with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release
John Fieldly, CFO, (866) 4-CELSIUS, (561) 276-2239, firstname.lastname@example.org
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