JACKSONVILLE, FL--(Marketwire - May 1, 2012) - Stakool Inc. (
"We are extremely pleased to complete this stage of financing for the Company. The financing allows the Company to be alleviated of its note payable debt obligations due principally to the merger of Stakool and Anthus Life. Our investors can feel comfortable with the fact we no longer have to meet these obligations on a monthly basis," stated Peter Hellwig, President and CEO of Stakool, Inc. "Furthermore, we can now focus on building our business more effectively, concentrating on sales and marketing, harnessing the growth opportunities in the natural and organic, and health and wellness markets."
"A combination of the management team, the Shannon Miller endorsement and a very good-tasting product line, will allow Stakool and its subsidiary Anthus Life, to become a well positioned competitor in the natural and organic market segments," commented Richard Kreger, Managing Director of Ironridge Global. "With the impending Kosher certification, we believe that the Company can now better concentrate on increasing market penetration and improving shareholder value."
Terms of the Financing -
Ironridge Global acquired outstanding debt from Company creditors and Stakool issued unregistered shares of common stock to Ironridge in full and final settlement of the accounts payable acquired by Ironridge. The shares issued to Ironridge are subject to adjustment within a defined range. Consistent with its long-only investment mandate, Ironridge represented that it has never shorted the Company's stock, does not hold any short position, and will not engage in or affect, directly or indirectly, any short sale of the common stock.
Moody Capital Solutions, Inc. has acted as the financial advisor to the Company on this transaction.
Ironridge Global IV, Ltd. is a long-only institutional investor, making direct equity investments in small cap public companies. The firm entered into more than twenty equity financing transactions last year, ranging from a quarter million to $10 million each. Ironridge seeks to be a long-term financial partner, assisting public companies in financing operations and expansion by supplying innovative funding solutions and flexible capital. The firm seeks to unlock the full potential of cash-constrained businesses, propelling higher growth and more profitable enterprises. For more information on Ironridge, please visit www.IronridgeGlobal.com.
About Stakool Inc.:
Jacksonville, Florida-based Stakool Inc., through its wholly-owned subsidiary, Anthus Life Corp., is committed to being a leading North American supplier of natural and organic and health and wellness products. By fulfilling the highest standards for quality, consistency, sustainability, product assortments, value-added support services and integrity in business and personal relationships, Anthus Life brings to market complimentary products that are most suited to the consumer. Additionally, the Company's expanding product lines are complimented by an endorsement agreement with seven-time Olympic medalist Shannon Miller.
Safe Harbor Statement:
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.