High Performance Beverage Co. (OTC PINK: TBEV) (PINKSHEETS; TBEV) (the "Company") is pleased to announce that it has completed its mutually agreed terms of settlement pertaining to the dissolution of the Licensing Agreement between the Company and Dethrone. This included a one-time cash payment of $55,000 from the Company to Dethrone.
As previously reported in October 2013, the Company had been approached by Throwdown Industries, a diversified world class action sports company, in need of a high performance drink that would complement their brand. Because of Throwdown’s well-established footprint in the MMA and action sports industry, their previous extensive experience in the beverage industry and their personal commitment to help with establishing a market for the Company’s sports beverage, High Performance opted to back out of their previous agreement with Dethrone in order to take advantage and move ahead with Throwdown Industries.
This settlement with Dethrone and its completion, represent an important and intricate part in the Company’s ability to bring the Throwdown High Performance Sports Drink to market. The Company now intends to focus its efforts in bringing the product to market over the next several weeks with a projected official production run sometime in October 2014.
The Company is also pleased to announce that it has retired two notes from Asher Enterprises. As of the most recent SEC 13-G filing, Asher no longer holds any positions of common stock in the company, nor, does the Company have any outstanding debt with Asher. These two notes represent 100% of all transactions between the Company and Asher Enterprises. The Company does not anticipate any additional transactions from this funding group in the foreseeable future.
About High Performance Beverage Company
High Performance Beverage Company has created a new beverage segment, under the trade name, Throwdown Performance Beverages, which manufactures and distributes a line of sport performance beverages. High Performance Beverage Company's sport performance drinks are carefully formulated to support mental focus and help increase blood flow, thereby giving the body the necessary fuel to power through a specific event or throughout the day. Our unique blends are designed to bridge the gap between supplements, energy and hydration drinks, ultimately broadening our appeal and providing access to an expanding target market. High Performance beverages are sugar free and extremely low in both calories and caffeine. This positioning makes High Performance Beverage Co. beverages first to market with a sustainable competitive advantage.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of High Performance Beverage Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond High Performance Beverage Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in High Performance Beverage Company's filings with the Securities and Exchange Commission.
High Performance Beverage Co.
Public Relations and Shareholder Information
Joseph M. Vazquez III
Phone: (800) 767-9396
SOURCE: High Performance Beverage Co.