SEATTLE, Dec. 6, 2011 /PRNewswire/ -- AquaLiv
Technologies, Inc. (OTCBB: AQLV) subsidiary, AquaLiv, Inc.,
announces it has received a Conditional Commitment Letter from an
undisclosed investment group intending to provide the company with
$50 million USD in working
capital.
According to the company, all of the terms and fees of the
financing have been agreed upon. The group may provide the majority
of the round as debt, but may elect to take a yet unknown portion
as a direct equity contribution. The company expects to receive the
first tranche of funding after the first of the year. AquaLiv has
been discussing its future plans with the investment group since
June, during which time the group was performing their due
diligence.
"Due diligence takes time. There is no scientific precedent for
our technological capability and without a fair amount of education
by us, even most scientists won't understand it," stated AquaLiv,
Inc. CEO Craig Hoffman. "Outside of
a simple scientific validation performed by a University of Washington scientist last year, our
strategy was to allow the marketplace to validate our technology.
And, we've gone to great lengths to seed various industries with
our products, even though we've really had insufficient capital and
manpower to do so - up until now that is."
"We can put any serious investment group in touch with numerous
persons outside of our company who are delighted to be working with
us and our technology, including: an organic rice farm that has
increased its yield by 30%, HIV/AIDS patients with vastly improved
quality of life, a commercial bakery in Tokyo that is able to reduce the amount of
yeast required to raise dough resulting in a sweeter tasting
product with a longer shelf life, a prominent health club that is
able to reduce the amount of chlorine required to eliminate
bacteria in their pool and spa, and the list goes on. We've
eliminated the risk of whether or not we can bring products to
market. We've demonstrated success. Now it's time to
scale."
"It isn't easy raising capital in this economy and a lot of
strong companies are competing for what capital is available,"
stated Bill Wright, CEO of AquaLiv
Technologies, Inc. "The simple fact that this group has worked
closely with AquaLiv for five months and intends to provide
$50 million in funding is a glowing
testament. AquaLiv clearly demonstrated the capabilities of their
technology and the viability of their business plan."
"We have signed a non-disclosure agreement, so we are unable to
name the group just yet," stated Mr. Hoffman. "However, we have
been working with this group for months and are excited to finally
make this announcement."
Mr. Wright continued, "Based on the selection of two product
lines alone, the AquaLiv business plan represents over $1 billion in projected sales over the first six
years. As we have stated before, this is not a sprint, but a
marathon. With the technology and the endless applications of the
science before us, AquaLiv plans on being a household name for
generations to come."
"Standby for fireworks," added Mr. Hoffman. "We're moving the
rocket to the launchpad."
The company released its first agriculture product, AgSmart™
Rice, earlier this year, and is close to releasing their potato
solution. AgSmart™ products increase crop yields without chemicals
or genetic engineering and are organic standards compliant. The
company is also preparing for an upcoming clinical trial with their
NatuRx™ HIV/AIDS treatment.
For more information about AquaLiv, visit their
website:http://www.aqualiv.net
For more information about AquaLiv Technologies, Inc., visit
their website:http://www.aqualivtech.com
About AquaLiv Technologies, Inc.:
AquaLiv Technologies, Inc., through its subsidiary, AquaLiv,
Inc., offers unique solutions and for a variety of industries.
AquaLiv, Inc. is a life sciences research and development
company creating novel products for numerous industries. The
company's patented technology alters the behavior of organisms,
including plants and humans, without chemical interaction. From
increased crop yields to drug-free medicine, AquaLiv is providing
innovative, ingredient-free solutions to the world's largest
problems. To learn more about AquaLiv, please
visit:www.aqualiv.net.
Safe Harbor: Statements contained in this news release, other
than those identifying historical facts, constitute
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934 and the Safe Harbor provisions
as contained in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements relating to the Company's
future expectations, including but not limited to revenues and
earnings, technology efficacy, strategies and plans, are subject to
safe harbors protection. Actual Company results and performance may
be materially different from any future results, performance,
strategies, plans, or achievements that may be expressed or implied
by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.
Contact:
AquaLiv Technologies, Inc.
360-536-4220
SOURCE AquaLiv Technologies, Inc.