News out at Yahoo Finance Gridiron BioNutrients(TM) Announces Closing of Strategic $1,000,000 Offering
SPOKANE, WA / ACCESSWIRE / August 14, 2018 / Gridiron BioNutrients, Inc. (OTC PINK: GMVP), a nutraceutical innovator specializing in Cannabidiol ("CBD") health and wellness products to the sports and fitness markets, announces the closing of a strategic private placement for total proceeds of over $1,000,000.
"We are pleased to close this strategic investment with Calvary Fund I LP. This is an important milestone for our Company that will accelerate our product roll-out into both domestic and international markets. With this additional funding, Gridiron is well positioned to execute the expansion of distribution channels with partners who are looking to provide innovative health and wellness products," commented, Tim Orr, President of Gridiron.
The Company also achieved multiple key milestones in 2018, including:
- Acquired a 33% stake in AGroSport, a leader in the hydration/training nutritional sports product market with products currently sold on Amazon.com and
- Developed and launched a line of daytime and nighttime gummies and capsules.
Net Proceeds from the financing were $1,006,000.00. The new capital was raised through a preferred equity, which is exercisable at a conversion price of $0.125. Full details of the financing transaction are available in the Company's 8-K filed with the Securities and Exchange Commission.
About Gridiron BioNutrients™
Gridiron is focused on the development and commercialization of high quality innovative CBD products within the health and wellness marketplace. Gridiron strives to formulate and design products that maximize the human body's potential enabling individuals to heal faster, train longer and recover quicker.
About AgroSport™
AgroSPort is a leader in the sports hydration market, providing athletes with safe, nutritional products while helping maximize their overall performance. The company is committed to supporting the intense, informed athlete with delicious, targeted sports nutrition products using cutting-edge, clinically studied ingredients during training and competition. AgroSport's products are formulated with natural ingredients.