Stevia Corp. Secures $20 Million in Financing
January 31 2012 - 09:00AM
Marketwired
Stevia Corp. (OTCBB: STEV) ("Stevia Corp." or
the "Company"), a farm management company focused on the economic
development of stevia, the fastest growing product in the
alternative sweetener sector, is pleased to announce it has entered
into an Equity Purchase Agreement of up to $20,000,000 of the
Company's registered common stock by Southridge Partners II, LP
("Southridge"), an institutional investor based in Ridgefield,
Connecticut. This funding will enable the Company to further
accelerate its commercial development of stevia and related
markets.
Pursuant to the Agreement, the Company has the right, at its
discretion, to sell to Southridge up to $20 million of its common
stock from time to time over a 36-month period. The Company will
have the right, but is not obligated, to sell stock to Southridge
depending on certain conditions as set forth in the Agreement. Both
parties have also entered into a Registration Rights Agreement
under which, the Company agreed to file a registration statement
with the Securities and Exchange Commission with respect to the
Shares.
Mr. George Blankenbaker, Stevia Corp. President, comments, "This
is an important milestone for Stevia Corp. to have accomplished. We
have attracted and won the confidence of a forward-thinking
institutional investor which says a lot about their conviction
regarding our vision, management approach, and overall market
demand. Having a flexible and low cost funding instrument in place
allows us to efficiently accelerate our commercialization and
acquisition strategies."
Further details of the Company's business, finances,
appointments and agreements can be found as part of the Company's
continuous public disclosure as a reporting issuer under the
Securities Exchange Act of 1934 filed with the Securities and
Exchange Commission's ("SEC") EDGAR database. For more information
visit: www.steviacorp.us.
About Stevia Corp. (OTCBB: STEV) Stevia
Corp. is a farm management company focused on best practice
agronomic competency in order to deliver high value stevia through
proprietary plant breeding, excellent agricultural methodologies
and innovative post-harvest techniques. To date, the Company has
acquired two grower supply contracts and three nursery fields in
Vietnam. For more information visit: www.steviacorp.us.
About Southridge Southridge is a
diversified financial holding company specializing in direct
investment and advisory services to small and middle market
companies and seeks investments in emerging growth areas,
domestically and in international markets. Southridge has
successfully participated in providing over $1.7 billion in capital
to companies in the United States, Asia, Canada, the United Kingdom
and Australia amongst other markets. For more information visit:
www.southridge.com.
About the Stevia Industry Sector Within
two years of the USA market opening, Nielsen-based retail
consumption data indicated almost $1 billion of retail sales for
the sector. Market research group, Mintel, has said it expects
sales of stevia sweetened products to top $2 billion in 2011. In
2010, stevia products were launched across thirty-five countries
and in 38 categories. Zenith International estimates worldwide
sales of stevia extract reached 3,500 tons in 2010 with an overall
market value of $285 million and forecasts the global market for
stevia will reach 11,000 tons by 2014 requiring the tripling of
stevia leaf production at the farm level to keep pace with consumer
demand. For more information visit: www.steviacorp.us.
Notice Regarding Forward-Looking
Statements This news release contains "forward-looking
statements" as that term is defined in Section 27A of the United
States Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements in this
press release which are not purely historical are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Such
forward-looking statements include, among other things, deployment
and adoption of proprietary farming systems, revenue derived from
farm management agreements, profitable harvests for farmers that
adopt the proprietary systems, future success of certain
technologies, benefits derived from research programs, potential
future acquisitions, implementation of effective farm systems,
commercial scaling, the development of new business opportunities,
entry into new markets, worldwide sales of stevia extract and
sweetened products, growth of stevia leaf production and growth of
the stevia global market. Actual results could differ from those
projected in any forward-looking statements due to numerous
factors. Such factors include, among others, the inherent
uncertainties associated with new projects and development stage
companies. These forward-looking statements are made as of the date
of this news release, and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that any beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that any such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
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Contact: Investor Relations Crescendo Communications, LLC
Email: stev@crescendo-ir.com Tel: +1-888-940-4050 Web:
www.steviacorp.us
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