Breaking News

Germany Defeats Argentina for Fourth World Cup Title
Tweet TWEET

BOLDFACE Group, Inc. Closes a $2 Million Financing

 SANTA MONICA, Calif., Dec. 27, 2012 /CNW/ - BOLDFACE Group, Inc. (BLBK), a  Santa Monica, California based celebrity beauty licensing company founded by  beauty industry veterans focused on top tier entertainment and designer  opportunities in the market, including the "Khroma Beauty by Kourtney, Kim and  Khloe Kardashian" brand (the "Company"), today announced that on December 21,  2012 the Company completed a private placement with a group of accredited  investors of 12% secured convertible notes in the aggregate principal amount  of $2,000,000 (the "Notes") and 5-year warrants (the "Warrants") to purchase  8,000,000 shares of the Company's common stock, 50% of which are exercisable  at $0.50 per share and 50% of which are exercisable at $1.00 per share.  "The closing of this private placement is the next major milestone for  Boldface after a strong holiday season and our brand introduction to 4,500  doors. This additional capital assures a solid launch into market in the first  quarter of 2013 with the core items in its "Khroma Beauty by Kourtney, Kim and  Khloe Kardashian" brand," said Nicole Ostoya, the Chief Executive Officer and  President of the Company.  The Notes are convertible into shares of common stock at any time prior to  maturity at $0.25 per share, subject to a one-time reset. The Notes will  mature on August 21, 2013 and contain customary affirmative and negative  covenants of the Company. The conversion price of the Notes and the exercise  price of the Warrants are subject to "weighted average" and other customary  anti-dilution protections. The Company is obligated to register the shares of  common stock underlying the Notes and Warrants within a pre-defined period.  Net proceeds from the offering are expected to be used for general corporate  purposes.  For more detailed information on this financing, see the Company's Current  Report on Form 8-K which will be filed with the United States Securities and  Exchange Commission on or about December 28, 2012.  This press release does not constitute an offer to sell or the solicitation of  an offer to buy any security and shall not constitute an offer, solicitation  or sale in any jurisdiction in which such offer, solicitation or sale would be  unlawful.  About BOLDFACE  BOLDFACE is a Santa Monica, California based celebrity beauty licensing  company founded by Nicole Ostoya and Robin Coe-Hutshing, beauty industry  veterans. Please visit www.boldfacegroup.com for further information.  Safe Harbor Statement  Any statements contained in this press release that do not describe historical  facts may constitute forward-looking statements as that term is defined in the  Private Securities Litigation Reform Act of 1995. Any forward-looking  statements contained herein are based on current expectations, but are subject  to a number of risks and uncertainties. The factors that could cause actual  future results to differ materially from current expectations include, but are  not limited to, risks and uncertainties relating to the availability of  additional funding; and the Company's business, product development, marketing  and distribution plans and strategies. These and other factors are identified  and described in more detail in the Company's filings with the United States  Securities and Exchange Commission, including, the Company's Current Reports  on Form 8-K. The Company does not undertake to update these forward-looking  statements.  Website: http://www.boldfacegroup.com  Jodi Hassan of Alison Brod Public Relations, +1-212-230-1800,  Jodi@alisonbrodpr.com  http://www.boldfacegroup.com  SOURCE: BOLDFACE Group, Inc.  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/December2012/27/c3504.html  CO: BOLDFACE Group, Inc. ST: California NI: HOU LOAN MNA