Youngevity International, Inc., a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, announced that its wholly owned subsidiary, CLR Roasters, has completed its previously announced $4.35 million Secured Convertible Notes (the “Notes”) and Warrants (the “Warrants”) financing for a total aggregate principal amount of $4.75 million. TriPoint Global Equities, LLC acted as sole placement agent in the transaction.
The Company has begun investing the net proceeds of the Offering in its wholly owned subsidiary, CLR Roasters, LLC, to fund the purchase of K-Cup manufacturing capabilities, and intends to execute its option to acquire a second coffee plantation that will, when acquired, double the Company’s coffee bean growing area in Matagalpa, Nicaragua, to fund capital improvements on its Nicaragua coffee plantations and processing plant and for the purchase of green coffee to continue to accelerate the growth on its newly formed green coffee division.
“We are pleased to be partnering with TriPoint Global Equities and we intend to use the proceeds from this financing transaction to aid in accelerating CLR Roasters’ growth,” said Steve Wallach CEO of Youngevity. “In the event that any of the Notes are