High Performance Beverages Comp. (TBEV)

[Zitroja Group]

09/26/2016...11:21AM.....GO TBEV

License agreement is official, 8K out today.

On August 1, 2016 the Company entered into a license Agreement (the “License Agreement”) with SC Company/ProProm Mexico (“Licensee”) . Pursuant to the License Agreement the Company granted Licensee the exclusive, non-sublicenseable and non-assignable right within Mexico, Central America and South America and any other areas granted in the future to use the Trademarks and Other IP solely in connection with the development, manufacture, distribution, marketing and sale of one or more “Sports Performance Drinks.

The initial term of the License Agreement is three years and provided Licensee is not in default under the Agreement the term of the Agreement shall be automatically extended for one additional three period upon mutually agreeable terms, unless either party notifies the other party in writing at least ninety (90) days prior to the then-scheduled expiration of the Term that such party elects not to extend the Term.

The term the Licensee shall pay the Company royalties in the amount of $10 a case by all sales and other transfers of licensed products and payments of $18,750 per quarter.

The foregoing descriptions of the License Agreement referred to above do not purport to be complete and are qualified in its entirety by reference to the Note, a copy of which are attached to this Current Report on Form 8-K and incorporated into this Item by reference.