Stevia Corp., a farm management company focused on the economic development of alternative sweetener stevia, today announced it has entered into an Equity Purchase Agreement of up to $20 million of the company's registered common stock by institutional investor Southridge Partners II, LP. Stevia Corp. will allocate this funding to accelerate its commercial development of stevia and related markets.
Stevia Corp. president George Blankenbaker said the funding is a significant achievement that reflects Southridge's support of Stevia Corp.'s future plans and market opportunity.
"This is an important milestone for Stevia Corp. to have accomplished. We have attracted and won the confidence of a forward-thinking institutional investor which says a lot about their conviction regarding our vision, management approach, and overall market demand," Blankenbaker stated in the press release. "Having a flexible and low cost funding instrument in place allows us to efficiently accelerate our commercialization and acquisition strategies."
Per the agreement, Stevia Corp. may sell to Southridge up to $20 million of its common stock from time to time over a 36-month period.
The company is not obligated, but does have the right to sell stock to Southridge depending on certain conditions as set forth in the equity agreement.
For more information visit www.steviacorp.us
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