Business
CALCOL INC.(CLCL) COMPLETES US$1.5 MILLION FINANCING; MALIBU-COLA BEVERAGE CO LTD. CHINA SUB REGISTERED CAPITAL US$10 MILLION PAID IN FULL
CALCOL INC.(CLCL) COMPLETES US$1.5 MILLION FINANCING; MALIBU-COLA BEVERAGE CO LTD. CHINA SUB REGISTERED CAPITAL US$10 MILLION PAID IN FULL.
About this update from Calcol Inc
[{"type":"text","content":"FOR IMMEDIATE RELEASE(PINKSHEETS NEWS SERVICE): April 26, 2006: (Beijing, China and Cleveland, Ohio) -- CALCOL INC. (CLCL-OTC) (Delaware) announced today it has completed a private placement with an institutional investor in the United Kingdom of US$1.5 million of 1.5 million shares of Class C 8% Convertible Preferred Stock. Each share of Class C Preferred Stock is convertible to five shares of Calcol common stock, has the same voting rights and dividend rights as five shares of Calcol common stock, and has a cumulative dividend of 8% in cash or in stock at US$0.20 (Twenty Cents) per share.This current financing completes the investment requirement of US$10 million of registered capital investment into CALCOL's Beijing wholly-foreign owned enterprise 100% subsidiary China registered company, MALIBU-COLA BEVERAGE COMPANY LTD. (\"MALIBU-COLA\") of Beijing. The company will use the financing to substantially expand its manufacturing and marketing efforts to increase nationwide distribution of its products throughout China in more retail outlets with a greater variety of products, flavors, and package sizes.\r\n \r\nCALCOL manufactures, markets and distributes through MALIBU-COLA a full range of carbonated soft drink products in 500 ml, 1.25 L, 2.0 L, and 2.5 L PET bottles and 355 ml aluminum cans, with national marketing and distribution contracts in China with TESCO, CARREFOUR and WAL-MART hypermarket stores and various Chinese supermarkets and distributors. MALIBU-COLA is produced in China under exclusive license from CALCOL INC. of Cleveland, Ohio USA.MALIBU-COLA's products include MALIBU-COLA, MALIBU SUNRISE ORANGE, MALIBU SURF'S UP LEMON LIME, MALIBU VERRY CHERRY COLA, MALIBU LEMON SQUEEZE (carbonated lemonade). MALIBU-COLA will launch several new flavors and additional diet products in May including MALIBU DIET COLA. MALIBU-COLA products typically retail at a 20-25% discount to the other major American cola brands at Tesco and Carrefour and other major international and Chinese hypermarkets and supermarkets in the Beijing and Tianjin areas in China.\r\n \r\nCALCOL INC.(Delaware) common stock (par value $.001) trades over the counter in the United States under the symbol \"CLCL\", involves a high degree of risk, and is a suitable investment only for accredited (high net worth) individuals, institutional investors, and overseas...