This news from February 18th...
Be Active Holdings Announces Key Business Updates
Recent Financing and Share Split Positions Company for Value Creation; Jala Greek Yogurt Products Gain Traction with Safeway Supermarkets and C&S Wholesale Grocers
NEW YORK, NY / ACCESSWIRE / February 18, 2016 / Be Active Holdings, Inc. (OTC: JALA), a manufacturer and marketer of Greek frozen yogurt under the Jala brand, today announced several key business updates that highlight the Company's continued financial and operational repositioning towards success.
On December 28, 2015, The Company completed its 1 for 1,000 reverse stock split, reducing the number of shares of common stock issued and outstanding from 486,256,112 to 486,257 shares. In addition, on December 31, 2015, the Company closed on a $500,000 financing of secured convertible promissory notes with a maturity date of December 30, 2016. The holders have the right to convert the outstanding principal and accrued annual interest of 10% at $0.30 per share. These two transactions served to enhance Be Active's liquidity and simplify its capital structure.
On the operations front, the Company received distribution approval for five of its SKUs from Safeway, the second largest supermarket chain in North America. Be Active intends on working with Safeway to increase product distribution in the Northeast, through Safeway's 135 stores in Virginia and Maryland. Furthermore, Be Active expanded its distribution agreement with C&S Wholesale Grocers, the largest US wholesale grocery distributor by revenue. C&S Customers include Stop & Shop, Winn Dixie, Key Food, Foodtown, Piggly Wiggly and Giant stores. Be Active was able to achieve "crossroads" vendor status with C&S, which allows for unlimited access into C&S warehouses with no slotting fees.
Joseph Rienzi, President of Be Active Holdings, stated, "The last few months have been a busy time for the Company. Our entire team has worked hard to deliver the appropriate financing and capital structure needed to set the stage for growing shareholder value. In addition, our recent progress with Safeway and enhanced partnership with C&S Wholesale Grocers mark an important milestone for our Company. Jala products will now have the potential to reach a strong and growing number of customers through the large footprint of these strong national retail and distribution partners."
The Jala brand is a low fat, low calorie, all natural probiotic enriched Greek frozen yogurt designed to appeal to both the health conscious and weight conscious consumers.
For more information, please check out http://jalabars.com
and follow Jala on Twitter and Instagram @jalabars.