$HISP Hispanica International Delights of America, Inc. Announces Registration Statement on Form S-1 has been Declared Effective
Financing Enables Company to Execute on its Expansion and Growth Plans
New York, New York April 5, 2017-- Hispanica International Delights of America, Inc. (OTCQB: HISP "Hispanica" or the "Company"), a diversified food and beverage company in the Hispanic and ethnic food industry, has today announced that the Securities and Exchange Commission ("SEC") has declared effective the Company's registration statement on Form S-1 on March 30, 2017. The Form S-1 relates to the resale of up to 6,033,131 shares of the Company's common stock (the "Common Shares") in an Offering that is officially closed, held by, or that may be acquired through the conversion of Convertible Notes with a fixed price and exercise of Warrants, by certain security holders of the Company named in the registration statement.
The Common Shares were sold by Hispanica in October 2016, through a private placement resulting in gross proceeds of approximately $750,000 to the Company. The registration statement, while effective, allows the selling security holders named in the registration statement to publicly resell the Common Shares.
Commenting on the announcement, the Company’s Chief Executive Officer Fernando Oswaldo Leonzo stated, "We are delighted to announce the closing of this offering and the support we received from the investment community.”
“With this Company financing, we can now focus on reinvigorating our brands with tremendous margin expansion potential and strong cash flow. We plan to use the proceeds from this offering to expand our proprietary line of beverages and snacks, increase production rates, reduce debt and continue to seek out potential acquisition candidates. We find the dynamics of growth through acquisition in our industry very compelling, and believe we are well positioned to create long-term value for our shareholders.”
Mr. Oswaldo Leonzo concluded: “We plan to issue a more detailed investor update outlining our progress to date, and plans for the remainder of 2017 with our next quarterly earnings announcement scheduled for mid-April 2017.”
A registration statement relating to these securities has been filed with, and declared effective on March 30, 2017, by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Hispanica International Delights of America, Inc.
