Mojo Organics, Inc announced that it expects to receive $0.76 million in funding.
January 11, 2013 at 11:00 pm
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Mojo Organics, Inc (OTCPK:MOJO) announced a private placement of 250,000 series A convertible preferred shares at a price of $4 per share for gross proceeds of $1,000,000 on January 12, 2013. The company will issue share to accredited investors pursuant to Regulation D in multiple tranches. The transaction will see participation from board of directors, Jeffrey A. Devlin and Richard X. See and Glenn Simpson, Chief Executive Officer for shares worth $50,000 in the final tranche of the transaction. Securities issued in the transaction will be subject to a hold period of 12 months from the date of issuance. The transaction is expected to close on or before March 31, 2013. The transaction will include conversion of $237,500. Graubard Miller will serve as legal advisor to the company for the transaction and OmniView Capital, LLC will serve as placement agent to the company for the transaction. The company shall pay all transfer agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any securities to the purchasers. The company shall pay legal fees in the amount of $15,000 to G&P from the proceeds received on the initial closing date.
On January 31, 2013, the company raised $372,500, including $237,500 from the conversion of the promissory notes. The tranche saw participation from eight placees.
EQUATOR Beverage Company is a beverage company. The Company specializes in developing, producing, distributing, and marketing beverage products. The Company's flagship product is MOJO Coconut Water. In addition to Coconut Water, the Company produces Coconut Water + Pineapple Juice, Organic Coconut Water, Sparkling Coconut Water Citrus, Sparkling Coconut Water Blood Orange, Sparkling Coconut Water Pink Grapefruit, Energy Sparkling Citrus, Energy Sparkling Blood Orange, Energy Sparkling Pink Grapefruit, Cubano Blue Agave Tequila Organic Sparkling Coconut Water Citrus and Cubano Blue Agave Tequila Organic Sparkling Coconut Water Blood Orange. The Company's beverages are Non-GMO Project Verified, and USDA Organic. It produces both non-alcoholic and ready to drink alcoholic beverages. It also has a line of sparkling energy beverages that are focused on the female consumer. The Companyâs beverages are available in North America, the Caribbean and Bermuda.
EQUATOR BEVERAGE COMPANY 
