Blue Water Announces $5 Million Financing Agreement With Dutchess Capital
07 Oktober 2013 - 2:00PM
Blue Water Global Group, Inc. (OTCBB:BLUUD) announces that it has
entered into an Investment Agreement with Dutchess Opportunity
Fund, II, LP, a Delaware limited partnership
("
Dutchess"). Under the terms of this Investment
Agreement, Dutchess has committed to purchase up to $5 million of
Blue Water's common stock at a fixed 5% discount to market over a
period of 36 months upon the effectiveness of a Registration
Statement on Form S-1, which is being filed today.
Key elements of the Investment Agreement include:
- The sales price of any shares sold to Dutchess will be based on
the prevailing market prices so Blue Water can maximize the price
per share for financing received;
- Only Blue Water may initiate and control the timing and amount
of stock sold to Dutchess;
- Blue Water is under no obligation to use the entire $5
million;
- There are no special covenants, restrictions, rights of first
refusal, participation rights, penalties or other limitations to
Blue Water receiving financing from other sources, potentially on
terms more favorable; and
- Blue Water may terminate the Investment Agreement at its sole
discretion without penalty.
Blue Water will use the proceeds of this financing to:
- Repay outstanding bridge financing;
- Complete the development of the St. Maarten based Blue Water
Bar & Grill™; and
- Open the planned Blue Water Bar & Grill™ restaurants in
Aruba, Grand Cayman, Cozumel, Barbados and Bahamas.
Blue Water's President and CEO, J. Scott Sitra, stated, "We are
very excited about this financing agreement. This financing will
allow us to strategically finance our planned near and long-term
capital expenditures without disrupting ongoing business operations
or hindering market trading conditions. Not only does this
financing strictly limit our exposure to 'discount to market'
financing, but it also minimizes overall dilution while benefiting
our core business development efforts and boosting overall
stockholder equity."
About Dutchess Capital
Dutchess Capital was founded in 2000. Since then Dutchess
has been a market leader and innovator in providing unique
financing structures for publicly traded companies. Dutchess
has transacted over $2 billion in Equity Line Facilities
("ELF") worldwide and maintains offices in Boston,
New York, London, Beijing and São Paulo.
Blue Water Global Group, Inc. is a publicly held developer of
casual dining restaurant properties. Blue Water is currently
developing a chain of casual dining restaurants in popular tourist
destinations throughout the Caribbean under the Blue Water Bar
& Grill™ brand. Additionally, Blue Water is also engaged
in making strategic equity investments in promising businesses that
are in the early stages of obtaining their own listing on the
OTCBB.
Certain statements in this release, other than statements of
historical fact, may include forward-looking information that
involves various risks and uncertainties. There can be no
assurance that such forward-looking statements will prove to be
accurate. Actual result and future events could differ
materially from those anticipated in such statements. These and all
subsequent written and oral forward-looking statements are based on
the estimates and opinions of management on the dates they are made
and expressly qualified in their entirety by this notice. Blue
Water Global Group, Inc. ("Blue Water") assumes no obligation to
update forward-looking statements should circumstances or
management's estimates or opinions change, other than as required
pursuant to applicable securities laws. For a description of
additional risks and uncertainties, please refer to Blue Water's
filings with the Securities and Exchange Commission, including
"Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Blue Water Global Group, Inc.
P: 949.264.1475
F: 949.607.4052
www.bluewaterglobalgroup.com
info@bluewaterglobalgroup.com
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