CELSIUS HOLDINGS, INC. (OTCMKTS:CELH) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On March 26, 2019, the Company issued a press release announcing the closing of the loan portion of the previously executed definitive agreement to establish a royalty license and repayment of investment arrangement with Qifeng Food Technology (Beijing) Co., Ltd. In addition to the royalty license fee, Qifeng Food will repay Celsius $12.25 million which the Company invested into the China market over a five-year loan term. The terms of previously disclosed royalty license fee remain the same.
A copy of the Company’s press release dated March 26, 2019 is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit No | Description |
|
99.1 |
Press Release dated March 26, 2019 |
Celsius Holdings, Inc. Exhibit
EX-99.1 2 s116977_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Investor Relations: Cameron Donahue (651) 653-1854 cameron@haydenir.com Celsius Holdings Announces Closing of Royalty License & Loan Agreement in China Celsius to Receive $12.25 Million Repayment of Investment Over Five-Year Term Note Boca Raton,…
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About CELSIUS HOLDINGS, INC. (OTCMKTS:CELH)
Celsius Holdings, Inc. is engaged in the development, marketing, sale and distribution of functional calorie-burning fitness beverages under the Celsius brand name. The Company’s product range includes Sparkling Grape Rush, Sparkling Watermelon, Sparkling Orange, Sparkling Wild Berry, Sparkling Cola, Raspberry Acai Green Tea, Peach Mango Green Tea, Flo Fusion Orange and Flo Fusion Berry. The Company’s products are sweetened with sucralose, which is suitable for consumers whose sugar intake is restricted. The Company’s Celsius brand uses ingredients and supplements, such as green tea (EGCG), ginger, calcium, chromium, B vitamins and vitamin C. The Company outsources the manufacturing process to third-party co-packers. It provides co-packers with flavors, ingredient blends, cans and other raw materials for its beverages purchased by it from various suppliers. It sells Celsius brand across retail segments, which include supermarkets and convenience stores.