True Drinks Secures $2.0 Million in Debt Financing
IRVINE, CA -- (Marketwired) -- 12/05/13 -- True Drinks, Inc.
(OTCQB: TRUU), a healthy beverage provider with major entertainment
and media company licensing agreements for use of their characters on
its proprietary, patented bottles, today announced the completion of
a $2.0 million term loan from Avidbank.
Dan Kerker, Chief Financial Officer of True Drinks, commented, "The
funding of this loan with Avidbank comes as the result of True Drinks
being in a much more secure financial position following our equity
raise last week. This note enables us to clean up our balance sheet
by paying off convertible notes. Avidbank understands our business
and will be a valuable partner for us as we continue to grow."
"I am pleased we were able to put this facility in place for True
Drinks," stated Avidbank Corporate Finance Executive Vice President,
Mike Hansen. "They have assembled a high quality team with deep
experience in this field. We look forward to a strong and mutually
About True Drinks, Inc.
True Drinks, Inc. is a beverage company with licensing agreements
with major entertainment and media companies for use of their
characters on its proprietary, patented bottles. AquaBallâ„¢ Naturally
Flavored Water, the Company's vitamin-enhanced water that was created
as a 0 calorie, sugar-free alternative to juice and soda for kids, is
currently being sold into mass-market retailers throughout the United
States. For more information, please visit www.theaquaball.com and
Avidbank Holdings, Inc. (OTCQB: AVBH) is headquartered in Palo Alto,
California. Our goal at Avidbank is to advance our clients' success
by offering innovative financial solutions and service. Our
experienced people provide a unique and individualized banking
experience based on mutual effort, ingenuity and trust, creating
long-term banking relationships. Avidbank specializes in the
following markets: commercial and industrial, corporate finance,
technology and asset-based lending, real estate construction,
commercial real estate lending and real estate bridge financing.
Please visit www.avidbank.com.
Any statements contained in this document that are not historical
facts are forward-looking statements as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Words such as "anticipate,"
"believe," "estimate," "expect," "forecast," "intend," "may," "plan,"
"project," "predict," "if," "should" and "will" and similar
expressions as they relate to True Drinks, Inc. are intended to
identify such forward-looking statements. True Drinks, Inc. may from
time to time update these publicly announced projections, but it is
not obligated to do so. Any projections of future results of
operations or the anticipated benefits of the merger and other
aspects of the proposed merger should not be construed in any manner
as a guarantee that such results or other events will in fact occur.
These projections are subject to change and could differ materially
from final reported results. For a discussion of such risks and
uncertainties, see "Risk Factors" in True Drink's report on Form 10-K
filed with the Securities and Exchange Commission and its other
filings under the Securities Exchange Act of 1934, as amended.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the dates on which
they are made.
Investor Relations Contact:
True Drinks, Inc.
18552 MacArthur Blvd., Ste. 325
Irvine, CA 92612
Alliance Advisors, LLC
(914) 669-0222 x201
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