Avidbank Corporate Finance Provides a $2,000,000 Term Loan to True Drinks,
PALO ALTO, Calif. -- December 10, 2013
Avidbank Corporate Finance, a Division of Avidbank that specializes in
technology and asset-based funding, has provided True Drinks, Inc. a
$2,000,000 term loan. The facility will be used to help the company fund its
True Drinks, Inc., located in Irvine, CA, is a healthy beverage provider with
major entertainment and media company licensing agreements for use of their
characters on its proprietary, patented bottles.
“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 beneficial relationship.”
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.”
Avidbank Holdings, Inc. (OTCBB:AVBH), headquartered in Palo Alto, California,
offers innovative financial solutions and services. We specialize in the
following markets: commercial & industrial, corporate finance, asset-based
lending, real estate construction and commercial real estate lending, and real
estate bridge financing. Avidbank advances the success of our clients by
providing them with financial opportunities and serving them as we wish to be
served – with mutual effort, ingenuity and trust – creating long-term banking
About True Drinks, Inc.
True Drinks, Inc. (OTCBB:TRUU) is a beverage company with licensing agreements
with major entertainment and media companies for use of their characters on
its proprietary, patented bottles. AquaBall^TM 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 www.truedrinks.com.
Avidbank Corporate Finance
Steve Leen, 650-843-2204
Chief Financial Officer
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