Cuba Beverage reports plans for $1 million private placement of stock

Proceeds will be used to initiate production run of product offering

By Devika Patel

Knoxville, Tenn., May 8 - Cuba Beverage Co. said it plans a $1 million private placement of equity. It said it has already begun to receive executed subscriptions.

Settlement is expected May 31.

Proceeds will allow the company to initiate the latest production run of its current product offering and resume distribution through its established network of beverage sales channels.

Cuba Beverage is a San Diego-based herbal energy juice producer.

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